RetireeRobert
Thinks s/he gets paid by the post
Heard Ric Edelman on the radio mention because of the Pension Reform Act, starting 2008 some pensions will require retirees take monthly benefit, and the lump sum option would not longer be available.
Edelman then went on to say he generally advised people to take lump sums, so if someone was close he thought they should retire by Dec 2007.
What I did not hear was specifically what types or which pensions this requirement would apply to. Can't believe it just applies across the board to everything? Also could not believe Edelman was across the board in favor of lump sums?
Anyone else hear this?
Edelman then went on to say he generally advised people to take lump sums, so if someone was close he thought they should retire by Dec 2007.
What I did not hear was specifically what types or which pensions this requirement would apply to. Can't believe it just applies across the board to everything? Also could not believe Edelman was across the board in favor of lump sums?
Anyone else hear this?