Looks like waves in retirements is coming in Q4 while pension is still intact.
I heard that the agencies handling 3M retirement accounts ( Empower and now Willis) are usually busy with huge volume of worried calls from 3Mers who are frantically trying to see if they can retire by year end.
Also it seems many are interested in taking lump sum rather than annuity. Rather unusual for 3Mers but might prove a very smart move in future !
Over the long haul, you can take the lump sum, invest it, and make more in investment gains versus the total you would get with the annuity.
80s hire here. Yep time to collect it now, lump sum if you can work it out. Usually lump sum is not as generous as the monthly annuity over the long haul, but given the reasonable chance of chap 11 bankruptcy you have to be safe.
I can also imagine people may wait to see if they get fired and take home another 26 weeks of bonanza. Then get the pension rolling.
I doubt Mike will take anything but a fat severance and lump sum pension when he gets canned around the time 3rd quarter earning are announced
Frantic ? Are there that many pensioners even left ?