https://hrcpdocctr.conocophillips.com/Documents/HR-documents/InterestRates.pdf
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The smart Gen X-ers stayed on the old defined benefit pension plan. So the older ones are facing a dilemma. Quit now while rates are still relatively low or stay with COP and watch their lump sums shrink. The lump sums shrink by at least 10% for every 1% increase in interest rates. At some point, you're working for free. What a conundrum or is that a COPundrum?
Yes, interest rate change is brutal. Expect lots of boomers retiring before end of May. Lots of opportunities for Gen X-ers to advance!
They must retire by end of May to catch the Dec 31 discount rates for lump sum.