Originally Posted by ChicagoGal
Yes, today was my decision day. And my decision was to defer my decision
I am really still torn between the options. Every one of the points people brought up here resonate in some measure or another. I did confirm during my conversation with the retirement specialist that I can defer a decision up until my 65th birthday, so have plenty of time. Realistically, it will only continue to grow until my 62nd birthday, but that's still a few years away. I have funding options in the interim, so I realized there isn't a need to push me into a decision before I'm ready.
I really appreciate all of the input here. Only 8 more days of w*rk until retirement is a reality! I'm sure I'll have many more questions to tap into the collective wisdom here as this process keeps moving forward.
I FIREd from MegaCorp about 9 years ago and then "rehired" into a different career. I decided to leave my MegaCorp Cash Balance Plan sit there. Why? The annuity payout is more than I can buy through a private annuity, so there's that. Also, the CBP has a feature that pays interest at prime +1% until I decide...so there's that. I would choose a 50/50 J/S annuity so DW would have some coming in should I pass first.
At any point between now and age 65 (I'm 59), I can either take the lump sum, start the annuity (non-COLA'd), or defer. I just let it sit there for now. I'll re-evaluate as interest rates rise to see if publicly-available annuities will pay better...but I doubt they ever will. Along with SS, this will provide a foundation of "forever" money, even if it's not COLA'd.