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Pension Planning

When you approach your retirement date, all of a sudden you are faced with a barrage of decisions to make about your pension plan. This process becomes quite complicated when survivorship benefits are factored into the formula. The problem lies with the decision to take a lower income at retirement in exchange for a survivorship benefit to your spouse. For example, you could take 100% for your lifetime with no survivorship benefits or approximately 60% with survivorship benefits paid to your spouse for their lifetime after you die. Most of the time the 60% option is taken and understandably so.

Pension Maximization is a concept which allows you to take 100% at retirement with a 100% guarantee of survivorship benefits to your spouse.

To help you make an informed decision for your pension plans, contact us.