lump sum payment

GM Retirees Must Decide Today On Lump Sum Payout

Posted on 07/20/2012 by |Money and Work | Comments

Bulletin Today | WorkAfter presumably agonizing for weeks over whether to keep their lifetime pension benefit or take a one-time lump-sum payment, some 42,000 General Motors retirees are faced with making that critical decision today. And there is no turning back. No do-overs. GM set Friday as the deadline when it offered its former employees and surviving spouses the choice to retain their monthly pension, which will be switched to an annuity provided by Prudential Insurance, or receive the lump-sum equivalent in one …