Is It Wise to Trade Your Pension for a Lump Sum?

Many pension plan participants have the option to take their money in a lump sum when they retire. And since 2012, an increasing number of large corporate pensions have been implementing “lump-sum windows” during which vested former employees have a limited amount of time (typically 30 to 90 days) to accept or decline buyout offers.3 (Lump-sum offers to retirees already receiving pension benefits are no longer allowed.)