If you get offered a buyout of your pension make sure you make the right decision for your situation.
Here is a great web site.
http://www.pensionrights.org/
Remember the company wouldn't do it if it didn't benefit them. Me myself I plan on living until at least past 100. lol.
PGC protects your pension. Not T or Fidelity.
https://www.pbgc.gov
I don't think T wants to pay Fidelity to manage all of these pensions anymore so the more people they can get to take their money out & manage it on their own, the less T has to pay for. I do believe that the monthly draw is the way to go because no matter how good of an investment you make, that lump sum won't last forever.
I decided the monthly payment was my best choice. A lump sum could be problematic to manage when I’m older. Even with a money manager you still have to monitor their decisions and I’m not sure I’d be able to do that effectively. My IRA and other investments may be converted to an annuity later in life.
I took the lump sum because I do not trust the company to protect my pension.
So many variables here. Many smart financial folks say when given the option you should ALWAYS take the lump and roll it into an IRA for the increased flexibility and control over your money that it offers. But you can find plenty of others that say to take the security of the monthly pension payment. The obvious factors to consider heavily are your age and your health when you need to make this decision. But it's certainly not a one size fits all thing.
OP, can't thank you enough for this link! Having this info a couple months ago would have spared me much angst. Now I feel assured the advice I was given to take my money as a monthly annuity is truly the best course of action for me.