Tag: lump sum option
Retirement for workers in state, county and municipal government fits a certain picture: a regular monthly pension payment awaits them. But there are important exceptions, which a recent study has filled in. A small minority of public sector workers get some or all of their retirement benefits in the form of a one-time cash payment…
In the face of declining profits, GE recently announced three pension actions to help reduce the company’s debts. Freeze its pension plan for about 20,000 salaried employees and for about 700 employees in a supplementary plan. Offer lump-sums to about 100,000 former employees who have not started benefits. Pre-fund $4-5 billion of estimated required…
