What Pension Survivor Benefit Option Should I Select?

Описание: Jim Falcone
Fulcrum Wealth Advisors
(877) 400-0260

As part of our financial planning services we routinely work with client to assist them to determine the best survivor benefit for their unique situation.

So, what is a survivor benefit? It’s a benefit option that lets the surviving spouse receive monthly benefits for the rest of their life from the other spouse’s pension if they die first.

Upon retiring, you or your spouse will be asked to choose the type of benefit that you want. A defined-benefit pension can be paid in several different ways, but we’ll focus on two types:

A Single Life Benefit:  where the monthly payments stop when the pensioner dies, and a Joint and Survivor Benefit - with monthly payments based on both spouse’s lifetime, so that the surviving spouse continues to receive benefits for life from the deceased spouse’s pension.

Typically, the survivor will receive a percentage of their deceased spouses benefit. For our Boeing clients the survivor benefit percentage are: 100 percent, 75 percent 50 percent or zero percent.

There are also several other options for your consideration. Determining your optimal Pension benefit is a crucial part of a proper financial plan.

Remember: We at Fulcrum Wealth Advisors have done all retirement planning services for Boeing personnel with NO OBLIGATION for over 26 years.

If you would like to receive your complimentary pension analysis, feel free to contact us at the number below or through the website.

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