Time to put to bed uneducated blatherings and fake news “strategies” before I go Nuts!
The Pension Benefits Guaranty Corporation (PBGC) is a government run agency, since 1974, and EVERY Pension based company pays into it....AT&T, Verizon, and the like....yes, you get the idea....and when a company declares bankruptcy then PBGC steps in using a “maximum guarantee table.” Like Social Security, it pays out monthly benefits based on age. If T were to go bankrupt then the PBGC would take over.
Younger pensioners will get less, but because they live longer, they collect longer and older pensioners get more money but usually collect over a shorter life span and to infer that the PBGC pays out “pennies on the dollar” is so misrepresenting of the truth, it staggers the mind!
“The PBGC maximum guarantee for participants in single-employer plans is determined using a formula prescribed by federal law that calls for periodic increases tied to a Social Security index.” The monthly amounts you could be entitled too will open your eyes wide.
Before choosing to take your Pension as a lump sum out of fear, not to mention bad advise, go to the PBGC website, read, learn and then put your questions together and call....be educated and make your decision based on facts.