If you have a pension that you’ll be able to draw upon during retirement, then there’s a good chance that you’re in a better financial position with respect to retirement than many others. The more sources you have to draw upon for retirement income; not just pensions, but also Social Security benefits, as well as your IRA and 401(k) accounts; the better.
But many pensions provide their beneficiaries with a choice on how to receive their benefits: either to receive monthly payments for the rest of their lives, or to receive a single lump sum as soon as they retire.
... Articles Tagged ‘pension’
Pension Decision #1 – Lump Sum or Monthly Payments?
If you have a pension that you’ll be able to draw upon during retirement, then there’s a good chance that you’re in a better financial position with respect to retirement than many others. The more sources you have to draw upon for retirement income; not just pensions, but also Social Security benefits, as well as your IRA and 401(k) accounts; the better.
But many pensions provide their beneficiaries with a choice on how to receive their benefits: either to receive monthly payments for the rest of their lives, or to receive a single lump sum as soon as they retire.
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Thursday, April 24th, 2014
If you have a pension that you’ll be able to draw upon during retirement, then there’s a good chance that you’re in a better financial position with respect to retirement than many others. The more sources you have to draw upon for retirement income; not just pensions, but also Social Security benefits, as well as your IRA and 401(k) accounts; the better.
But many pensions provide their beneficiaries with a choice on how to receive their benefits: either to receive monthly payments for the rest of their lives, or to receive a single lump sum as soon as they retire.
... Check if Your Company’s Pension Plan Is Safe
Once upon a time, workers who spent many years employed by one company could count on a nice pension once they retired. The longer they stayed at their jobs, the bigger their pension check would be. But these days, pension plans that guarantee a set amount per month upon retirement (known as defined benefit plans) are becoming quite rare, and the more common benefit is now the 401(k) plan. And many of the pension plans that still exist are on shaky ground.
Pension plans can go south in a couple of ways. Many companies have frozen their pension plans, which...
Tuesday, May 24th, 2011
Once upon a time, workers who spent many years employed by one company could count on a nice pension once they retired. The longer they stayed at their jobs, the bigger their pension check would be. But these days, pension plans that guarantee a set amount per month upon retirement (known as defined benefit plans) are becoming quite rare, and the more common benefit is now the 401(k) plan. And many of the pension plans that still exist are on shaky ground.
Pension plans can go south in a couple of ways. Many companies have frozen their pension plans, which... 
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