Companies that have transferred pensions to insurance companies
Below is a list of employers that have transferred their pension obligations for certain retirees and former employees to insurance companies by purchasing annuities. (Note: this is not a comprehensive list. These are only the changes that we are aware of, based on corporate press releases, news reports, and other sources.) This practice differs from […]
Companies that are offering lump-sum pension buyouts
Note: This list is updated on an ongoing basis. Below is a list of employers that have announced that they are offering lump-sum pension buyouts to certain groups of employees, former employees, or retirees. For specifics, click on the employer’s name to see the company’s press release, SEC filing, or news story announcing the change […]
Should you take your pension as a lump sum?
Updated: August 2015 Some companies have offered to cash out the pensions of certain retirees and former employees and instead give them a one-time lump-sum payment. While the idea of suddenly having a large sum of money is tempting, this is a decision that you will have to live with for the rest of your life. […]
Restrictions on Payment of Lump Sums and Accelerated Benefits
A plan is not allowed to pay lump sums if the plan is less than 60 percent funded. A plan subject to this restriction can only pay a monthly benefit equal to a lifetime monthly annuity. If the plan is more than 60 percent funded but less than 80 percent funded, a plan with a […]