Msg. 39175 of 65535 (This msg. is a reply to
39174 by
weco)
Jump:
Weco,
The letter states that this is a one-time-only offer and that I have to have all the paperwork back to them by April 1st. And besides, since I have no choice but to start to accept the regular pension payments on September 1st, that once you start with one option there will be no way to change it to something else. So I don't really have any choice, either opt out now for the $21,000 lump-sum or wait until September and start the originally promised payment of $140.63/month.
The letter also indicated that this is the first time they have ever offered a lump-sum payout (except that back in 1980, when I quit my job, I was told that if the value of my pension had been less than $5,000 I would have been forced to take it in cash) and that there would be no assurance that they would be doing so again. I suspect that there's some corporate tax issue which is about to expire or change soon and they are simply trying to take maximum advantage of it. Based on what I agreed to 32 years ago, I don't see how anything has changed with respect to what was promised to me, so if there has been a change somewhere it's something that was only going to have an effect on the company and not it's retirees or former employees.
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