Retirement Fixed Annuity or Rollover?

Many private employers in Upstate New York (National Grid, Finch Pruyn
Paper, Kraft, Alcoa, to name a few) offer retirees two main retirement benefits options – a fixed
annuity or a lump sum rollover.  Fixed annuities are usually guaranteed payments for life, which
can also be structured for payouts to surviving spouses.  A rollover on the other hand involves a
retiree being presented with a sizeable check (as opposed to a fixed annuity), with the retiree
investing the monies through his or her private broker of his or her own choice.  Unfortunately,
many retirees who take the rollover option have seen their life savings quickly dissipated through bad
investment advice and other improper early retirement strategies known as a 72t rollover withdrawal
election. 

 We have represented many retirees who have been victimized by
financial advisors who have persuaded individuals approaching retirement to elect against a guaranteed
fixed annuity.  If you feel you have been victimized by your financial advisor, we offer a free
initial consultation to discuss your situation.

 

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