Wednesday, September 11, 2013
If your lump sum pension is valued using the Pension Protection Act (PPA) rate, we're concerned that big reductions are on the horizon for your lump sum pension amounts. Most lump sum pensions are valued using complex calculations that have an interest rate component, such as the PPA, GATT, or PBGC rates. In general, the lower these rates go, the higher the lump sum values that are produced. Likewise, the higher the rates go, the lower the lump sum values. The recent move in interest rates, as applied to these pension calculations, has been significant. Look at this chart of the PPA rate. Significantly, August and November are very important months for many companies' pension plans. We think it's very important that anyone with a lump sum who is considering retiring in the next few years, speak with us about the potential impact of interest rate moves on their lump sum values. We have over a decade of experience in helping retirees evaluate their retirement options and are standing by to help you make sense of these recent interest rate moves. Call Harris Financial Group today at (800) 281-3980 for a free consultation. We work with retirees from across the country, so please don't hesitate to call regardless of your location!
Thursday, May 16, 2013
It's been awhile since we've reported news of a Verizon EISP Offer, but according to CWA 2201 and others, there is a surplus in the Mid-Atlantic, with an off-payroll date of June 30th. This is great news for anyone thinking about retiring, given that near record-low interest rates translate into near record-high lump sum pension amounts. Jamie Cox, Carl Beck and Steve Harrison are standing by and would love to help you evaluate your retirement options. We work with clients across Virginia, Maryland, Pennsylvania, Delaware and beyond. Call us today for a free consultation. (800) 281-3980. Offices in Richmond and Roanoke, and we will travel to whatever location in the Mid-Atlantic is convenient for you!