Posted in: Retirement Planning
Published: December 25, 2016
If your company offers a pension, when you retire, you’ll have to decide how you want to take that pension. There are three big decisions you’ll need to make, although not all company pensions offer all choices. These decisions are: Should you take your pension as a lump sum (you get cash up front that you can rollover to an IRA account) or as an annuity (you get monthly payments for life)? When should you start your pension? Now, or would you get a higher monthly payment if you wait and start at 62, or 65? What type of survivor option should you choose?