Manage episode 343641576 series 3404044
Pension lump sums will be much LOWER in 2023 than 2022. Listen to Kevin give a brief intro on what is going on and then cut into a replay of episode 62, recorded in December 2020 on the same topic.
Learn timing considerations on how to optimize your pension benefits by understanding the key variables -- interest rates and mortality -- that determine your lump sum. Company pension plans specifically discussed include Akron Children's Hospital, Bridgestone, FirstEnergy, Goodyear, Kaiser, Mercy Health, and Rockwell Automation.Need help with your specific lump sum option? If you are eligible for a lump sum, don't delay. To give proper advice, your pension decision must be made within the context of your overall financial life plan, and this takes some time to thoughtfully put together. Call 855-TWD-PLAN (855-893-7526) or visit https://www.truewealthdesign.com/contact to get expert help.
Whether you have a pension from your company or not, you'll benefit from this episode. Why? Anyone can invest money with an insurance company and receive a lifetime income in the form of annuity payments. So these considerations are universal in crafting your retirement income plan.
Want more information on pension claiming strategies? Listen to Episode 38 here: https://www.truewealthdesign.com/ep-38-pension-lump-sum-or-monthly-payment
Key topics on this episode:
0:38 - Why we're pulling this show from the archives
8:53 - What you need to know about lump sums
14:22 - Why this matters
15:58 - Segment Rates
21:43 - What To Expect In The Future
26:02 - Spreadsheet Story
30:28 - Closing Thoughts