Tag: Annuities|De-risking|Department of Labor|Future retirement security|Lump sum|PBGC|Pension Rights Center|Traditional (defined benefit) pensions
Gotbaum Tells Council Lump-Sum Cash-Outs Are Like Cigarettes: Legal but Bad for You
Joshua Gotbaum, director of the Pension Benefit Guaranty Corporation, told the ERISA Advisory Council Aug. 29 that pension plan lump-sum cashouts to retirees are like cigarettes: They are legal, many people like them and they are bad for you.
