Sunset
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
One of the first choices I need to make is wether to take my pension as an annuity or lump sum.
Lump Sum = $229,865
Single Life = $19286 (8.39% return)
The 100% survivor option = $16819 (7.31%)
Given we have no other source of guaranteed income until I reach SS age in 5 years, I am very strongly leaning toward the 100% survivor option. There is no COLA provision.
What does everybody think?
Take the 100% survivor option. I'm assuming there is no time limit on it.
When I enter your money lumpsum for https://www.immediateannuities.com with suvivorship I get a low value of $10,968 / yr.
So your Pension is much better than you can buy with cash.