Many companies within the automotive industry have announced new pension lump sum payment programs that impact certain current salaried retirees or 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.
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.
Pension Lump Sum Special Report
MCM's Pension Payment AnalyzerTM
Pension Lump Sum Frequently Asked Questions
Pension Benefit Guaranty Corporation - F.A.Q.
Articles of Interest:
"White-collar GM retirees must decide on lump sum" - Detroit Free Press
"Time for salaried GM retirees to make buyout decisions" - Detroit News
"GM pension decision looms" - Detroit News
"GM lump-sum payouts leave retirees with questions" - Lansing State Journal
"Lump-sum pension questions, answers" - Detroit Free Press
"Lump-sum pension offer a tough call for General Motors, Ford retirees" - Detroit Free Press
"Taking Your Lumps—or Not" - Wall Street Journal
"Are GM-Like Pension Offers a Good Deal?" - FOX Business
"Take a GM pension or lump sum? Do the math" - Detroit Free Press
"Adviser: Look carefully at GM pension offer" - Flint Journal
"Stern Advice: Are GM-Like Pension Offers a Good Deal?" - Reuters
"Ford may buy out retiree pensions" - Detroit News
"Ford's lump-sum pension offer is tempting, but run the numbers first" - Detroit Free Press
"Ford Offers Retirees A Bag Of Cash To Go Away" - Forbes