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Reply to "Pension Benefit Guaranty Corp.?"
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[quote=Anonymous]Hi, all. A former employer (a struggling metropolitan daily newspaper) has offered me a lump sum pension payment. I'm 40. Fooling around some life expectancy calculators, I see I could live to 90. Ordinarily, I wouldn't even consider a lump sum. I'm not an investor, I'm risk averse and I like the idea of guaranteed monthly payments for life. BUT considering that the employer is a newspaper that is likely to start publishing only four days a week, I worry that the company won't exist in 25 years. I'm just learning about the Pension Benefit Guaranty Corp., which sounds like an FDIC for pension plans. I'm wondering, though, if the company shuts down in the next few years, would I still be able to get payments through the Pension Benefit Guaranty Corp.? What kind of documentation would I need? I worry that when the time comes, if the company doesn't exist anymore, I'll get zero. Thanks for any insight or advice.[/quote]
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