Pension Lump Sum Buyout Programs
Many companies within the automotive industry have provided pension lump sum payment programs that impact certain current salaried retirees or former employees. General Motors, Ford Motor Company, and Visteon, to name a few have offered these programs. Recently Fiat Chrysler Automobiles also made a pension lump sum payment offer to certain salaried retirees and former employees.
In some cases these companies are also providing a new option for current salaried employees to receive a lump sum pension benefit upon retirement. This is now a trend among a number of companies outside the automotive industry as well. NCR, Sears, The New York Times, Equifax, TRW, Lockheed Martin, J.C. Penney, and Archer Daniels Midland are among a few of the companies that have come forward with a pension lump sum offer for certain retirees and former employees.
With these announcements many retirees and employees are left wondering what they need to do differently for their retirement income savings, planning, and investing. Below you will find several resources for retirees and employees looking to better understand this new pension lump sum option.
Please feel free to contact Mainstay Capital Management toll-free at 1‑866‑444‑6246 for questions or further assistance with your personal situation.
Articles of Interest: