Your traditional pension plan is designed to provide you with a steady stream of income once you retire. That’s why your pension benefits are normally paid in the form of lifetime monthly payments.
1. Will you be at risk of running out of money?
2. Are you taking your pension in a lump sum because you’re worried that you may not live long enough to get back what you’ve earned?
3. Will you have the necessary investment skills?
4. Is your money protected?
5. Should you take a lump sum in order to buy a private annuity?
6. Is a combination of payouts possible?
What if you have a 401(k) or similar individual retirement account?
CLICK HERE [3] For the complete PDF document on Pension lump-sum payouts and your retirement security
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Links
[1] https://texaslawhelp.org/directory/legal-resource/consumer-financial-protection-bureau
[2] http://www.pbgc.gov/
[3] https://pueblo.gpo.gov/CFPBPubs/CFPBPubs.php?PubID=13202