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Hmm. I thought that the PBGC honored the 100% survivor if you chose that at the time the pension started. I found I have another option: Take half the pension and the rest as a lump sum. That would put the pension well under the PBGC's maximum. That minimizes my risk and should optimize...

She handles our financial books, very detail oriented and sharp. I handle the investments and taxes because she lacks the patience for fuzzy decisions. But I think she would learn fast, and my kids would help out. :)

I'm guessing that COLA is cost of living adjustment, or similar? No, that is not included. The 2 downside risks on the pension are (1) my company defaults and (2) hyperinflation makes it worth the cost of a coke anyway. That said, I'm not sure what investment offers protection against...

Yes, both a 401K and Social Security. I could live without the pension, it just wouldn't be as much fun.

Hmm. Since the quoted pension includes my wife I seem to be doing a bit better than the site offers. Thanks for the link.

The pension number includes my wife at 100% survivor. My ancestors blessed me with great genes and my health is excellent. And I have a nice 401K that I figure I'll invest in a 'couch potato' IRA.

First post here, just joined... Be nice please! I am about to retire at age 62 and have the choice of a pension that pays about $70k/year or take a $1.2 Million lump sum. Based on a 4% draw down rate the pension seems to be the better option. My company is financially strong. The pension...