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Companies that are offering lump-sum pension buyouts


One of the most recent developments in the defined benefit pension plan field is the move of employers to offer certain plan participants, especially former employees not yet receiving benefits, the opportunity to convert their future monthly annuity into a cash lump-sum payment. Through that approach, when pension plan participants take lump-sum benefits and are no longer covered by the plan, their former employers do not have to worry about how interest rate fluctuations and investment results could affect how much they will have to contribute to their pension plans to fund future annuity payments.

In addition, when participants take lump sums and move out of the pension plan, employers can reduce certain fixed costs, such as the payment of sharply rising premiums to the Pension Benefit Guaranty Corp.

The Pension Rights Center in Washington has published a new list of employers taking such action, with details on the transactions. See the complete list.