sheldon cornped
Recycles dryer sheets
- Joined
- Mar 26, 2011
- Messages
- 221
I ran my Company's pension options below assuming I retire and begin receiving benefits at 62. I am 58 1/2 now, have 401k, IRA's and decent liquid assets. DW is 54, recently retired from teaching but plans to either do something part-time or possibly full, just not teaching. Megacorps pension plan is about 140% funded, making it one of the top plans in the country. I'm just not sure if I should go with the split benefit (lump sum plus monthly payment) or go with one of the annuity plans. I would be interested in anyone's comments given their personal circumstances if they had these options or just general opinions about pro's/cons of lump sum vs. annuity. Sorry, I know this is quite a menu and it didn't post neatly from my spreadsheet, but here it is:
Monthly Payments1
Form of Payment To You To Your Beneficiary
Single Life Annuity $4,774 $0
25% Joint and Survivor $4,587 $1,147
50% Joint and Survivor $4,420 $2,210
66 2/3% Joint and Survivor $4,310 $2,875
75% Joint and Survivor $4,263 $3,197
100% Joint and Survivor $4,115 $4,115
25% Pop-Up Joint & Survivor $4,573 $1,143
If your beneficiary dies before you, your amount will increase to $4,774.
50% Pop-Up Joint & Survivor $4,387 $2,193
If your beneficiary dies before you, your amount will increase to $4,774.
75% Pop-Up Joint & Survivor $4,215 $3,161
If your beneficiary dies before you, your amount will increase to $4,774.
100% Pop-Up Joint & Survivor $4,057 $4,057
If your beneficiary dies before you, your amount will increase to $4,774.
5 Year Certain and Continuous
Before 01-01-2021 $4,735 $4,735
Beginning 01-01-2021 $4,735 $0
10 Year Certain and Continuous
Before 01-01-2026 $4,626 $4,626
Beginning 01-01-2026 $4,626 $0
15 Year Certain and Continuous
Before 01-01-2031 $4,468 $4,468
Beginning 01-01-2031 $4,468 $0
20 Year Certain and Continuous
Before 01-01-2036 $4,296 $4,296
Beginning 01-01-2036 $4,296 $0
Annuity and Cash Balance2 $4,559 $0
Increasing Single Life Annuity $3,647 $0
SSNRA Level Income
Before 01-01-2020 $6,773 $0
Beginning 01-01-2020 $4,027 $0
Age 65 Level Income
Before 01-01-2019 $6,804 $0
Beginning 01-01-2019 $4,243 $0
Form of Payment One-Time Payment Monthly Payments1
To You To Your Beneficiary Single Life Annuity --
$0
Partial Lump Sum $508,059 -- --
25% Joint and Survivor -- $1,685 $421
Partial Lump Sum $508,059 -- --
50% Joint and Survivor -- $1,624 $812
Partial Lump Sum $508,059 -- --
66 2/3% Joint and Survivor -- $1,584 $1,056
Partial Lump Sum $508,059 -- --
75% Joint and Survivor -- $1,566 $1,175
Partial Lump Sum $508,059 -- --
100% Joint and Survivor -- $1,512 $1,512
Partial Lump Sum $508,059 -- --
25% Pop-Up Joint & Survivor -- $1,680 $420
If your beneficiary dies before you, your amount will increase to $1,754.
Partial Lump Sum $508,059 -- --
50% Pop-Up Joint & Survivor -- $1,612 $806
If your beneficiary dies before you, your amount will increase to $1,754.
Partial Lump Sum $508,059 -- --
75% Pop-Up Joint & Survivor -- $1,549 $1,161
If your beneficiary dies before you, your amount will increase to $1,754.
Partial Lump Sum $508,059 -- --
100% Pop-Up Joint & Survivor -- $1,491 $1,491
If your beneficiary dies before you, your amount will increase to $1,754.
Partial Lump Sum $508,059 -- --
5 Year Certain and Continuous
Before 01-01-2021 -- $1,740 $1,740
Beginning 01-01-2021 -- $1,740 $0
Partial Lump Sum $508,059 -- --
10 Year Certain and Continuous
Before 01-01-2026 -- $1,699 $1,699
Beginning 01-01-2026 -- $1,699 $0
Partial Lump Sum $508,059 -- --
15 Year Certain and Continuous
Before 01-01-2031 -- $1,642 $1,642
Beginning 01-01-2031 -- $1,642 $0
Partial Lump Sum $508,059 -- --
20 Year Certain and Continuous
Before 01-01-2036 -- $1,578 $1,578
Beginning 01-01-2036 -- $1,578 $0
Partial Lump Sum $508,059 -- --
Annuity and Cash Balance2 -- $1,675 $0
Partial Lump Sum $508,059 -- --
Increasing Single Life Annuity -- $1,340 $0
Partial Lump Sum $508,059 -- --
SSNRA Level Income
Before 01-01-2020 -- $3,753 $0
Beginning 01-01-2020 -- $1,007 $0
Partial Lump Sum $508,059 -- --
Age 65 Level Income
Before 01-01-2019 -- $3,785 $0
Beginning 01-01-2019 -- $1,224 $0
Partial Lump Sum $508,059 -- --
Monthly Payments1
Form of Payment To You To Your Beneficiary
Single Life Annuity $4,774 $0
25% Joint and Survivor $4,587 $1,147
50% Joint and Survivor $4,420 $2,210
66 2/3% Joint and Survivor $4,310 $2,875
75% Joint and Survivor $4,263 $3,197
100% Joint and Survivor $4,115 $4,115
25% Pop-Up Joint & Survivor $4,573 $1,143
If your beneficiary dies before you, your amount will increase to $4,774.
50% Pop-Up Joint & Survivor $4,387 $2,193
If your beneficiary dies before you, your amount will increase to $4,774.
75% Pop-Up Joint & Survivor $4,215 $3,161
If your beneficiary dies before you, your amount will increase to $4,774.
100% Pop-Up Joint & Survivor $4,057 $4,057
If your beneficiary dies before you, your amount will increase to $4,774.
5 Year Certain and Continuous
Before 01-01-2021 $4,735 $4,735
Beginning 01-01-2021 $4,735 $0
10 Year Certain and Continuous
Before 01-01-2026 $4,626 $4,626
Beginning 01-01-2026 $4,626 $0
15 Year Certain and Continuous
Before 01-01-2031 $4,468 $4,468
Beginning 01-01-2031 $4,468 $0
20 Year Certain and Continuous
Before 01-01-2036 $4,296 $4,296
Beginning 01-01-2036 $4,296 $0
Annuity and Cash Balance2 $4,559 $0
Increasing Single Life Annuity $3,647 $0
SSNRA Level Income
Before 01-01-2020 $6,773 $0
Beginning 01-01-2020 $4,027 $0
Age 65 Level Income
Before 01-01-2019 $6,804 $0
Beginning 01-01-2019 $4,243 $0
Form of Payment One-Time Payment Monthly Payments1
To You To Your Beneficiary Single Life Annuity --
$0
Partial Lump Sum $508,059 -- --
25% Joint and Survivor -- $1,685 $421
Partial Lump Sum $508,059 -- --
50% Joint and Survivor -- $1,624 $812
Partial Lump Sum $508,059 -- --
66 2/3% Joint and Survivor -- $1,584 $1,056
Partial Lump Sum $508,059 -- --
75% Joint and Survivor -- $1,566 $1,175
Partial Lump Sum $508,059 -- --
100% Joint and Survivor -- $1,512 $1,512
Partial Lump Sum $508,059 -- --
25% Pop-Up Joint & Survivor -- $1,680 $420
If your beneficiary dies before you, your amount will increase to $1,754.
Partial Lump Sum $508,059 -- --
50% Pop-Up Joint & Survivor -- $1,612 $806
If your beneficiary dies before you, your amount will increase to $1,754.
Partial Lump Sum $508,059 -- --
75% Pop-Up Joint & Survivor -- $1,549 $1,161
If your beneficiary dies before you, your amount will increase to $1,754.
Partial Lump Sum $508,059 -- --
100% Pop-Up Joint & Survivor -- $1,491 $1,491
If your beneficiary dies before you, your amount will increase to $1,754.
Partial Lump Sum $508,059 -- --
5 Year Certain and Continuous
Before 01-01-2021 -- $1,740 $1,740
Beginning 01-01-2021 -- $1,740 $0
Partial Lump Sum $508,059 -- --
10 Year Certain and Continuous
Before 01-01-2026 -- $1,699 $1,699
Beginning 01-01-2026 -- $1,699 $0
Partial Lump Sum $508,059 -- --
15 Year Certain and Continuous
Before 01-01-2031 -- $1,642 $1,642
Beginning 01-01-2031 -- $1,642 $0
Partial Lump Sum $508,059 -- --
20 Year Certain and Continuous
Before 01-01-2036 -- $1,578 $1,578
Beginning 01-01-2036 -- $1,578 $0
Partial Lump Sum $508,059 -- --
Annuity and Cash Balance2 -- $1,675 $0
Partial Lump Sum $508,059 -- --
Increasing Single Life Annuity -- $1,340 $0
Partial Lump Sum $508,059 -- --
SSNRA Level Income
Before 01-01-2020 -- $3,753 $0
Beginning 01-01-2020 -- $1,007 $0
Partial Lump Sum $508,059 -- --
Age 65 Level Income
Before 01-01-2019 -- $3,785 $0
Beginning 01-01-2019 -- $1,224 $0
Partial Lump Sum $508,059 -- --