Given that you want to give advice, I can only say that I had a friend who retired from Lawrence Livermore Lab with more than 30 years in. Took the lump sum. This was shortly before the market implosion.
He didn't share every detail with me, but the ashen look he wore as he described his portfolio as having "taken it in the shorts" said it all.
His wife also delayed her retirement by a couple of years as a result.
Just one data point.
P.S. as I recall there was something about his foregoing the lab healthcare program if he took the lump sum. Again, I don't remember the details but it might be worth checking into the fine print. Is it possible that other benefits / aspects are affected if the lump sum vs the pension is chosen?
He didn't share every detail with me, but the ashen look he wore as he described his portfolio as having "taken it in the shorts" said it all.
His wife also delayed her retirement by a couple of years as a result.
Just one data point.
P.S. as I recall there was something about his foregoing the lab healthcare program if he took the lump sum. Again, I don't remember the details but it might be worth checking into the fine print. Is it possible that other benefits / aspects are affected if the lump sum vs the pension is chosen?