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For plan sponsors, the ability to provide a retiree lump sum offer provides greater flexibility to manage their retirement plans, including the ability to better manage the size of the plan relative to ongoing operations, as well as the ability to more efficiently administer the plan on an ongoing basis," said Matt Herrmann, leader of the Retirement Risk Management group of Towers Watson.
Whilst I am ok at present, I have had some fairly serious health problems, which I am advised may shorten my life expectancy, so I think I might be better taking the lump sum and reduced pension.
If Ms Rowe cashed in the maximum 25 per cent of her former ACC pension, she could have banked a PS357,824 lump sum and a reduced annual pension payment of PS50,000.
They demanded of the government to take action against the private schools for demanding lump sum fee.
Liberal Democrat shadow work and pensions secretary Steve Webb said people should be able to draw tax-free lump sums from their pensions to help them clear mortgage arrears or make a large purchase, such as a car.
Researchers claim people who invest lump sums in the stock market typically get better returns over the long term than those who make regular contributions.
For a lump sum program to accomplish something other than giving veterans instant cash and have an effect other than increasing administrative burdens and costs, there must be government savings," Violante noted.
If he retires in July 2003 at age 55 and takes a lump sum of $540,000, he could draw $18,500 from it for 2003 (half of $37,000, since it covers just six months).
After receiving 5 payments, Macginnis sold his right to receive the remaining 15 payments to a third party for a $3,950,000 lump sum.
Council leader Dennis Harvey and the five other councillors who serve on the council's Cabinet are, in addition, being recommended for an extra pounds 300 lump sum per year for mobile phones, which are provided by the authority.
Advocates call it a smart way to secure a quick lump sum of cash, while others call it an expensive risk that is contrary to the settlement's intent of paying for anti-smoking efforts.
If Banks needs to withdraw lump sum of cash to finance a two-week Caribbean cruise, for example, she can liquidate shares of the fund.