Attention Aflac Employees & Retirees!
The Aflac Pension Plan has been Terminated.
What does this mean for you?
The Aflac Pension Plan has been terminated, freezing all benefit formulas for current and former employees, and those retirees who have not yet started receiving their monthly pension benefit.
Upcoming Deadlines
August 15th is the deadline to make your decision between a monthly pension payment and lump sum, AND submit your paperwork to Milliman.
Monthly Payments versus a Lump Sum
Now *for the first time* you have the option to take a lump sum or receive monthly payments. You should make your decision based on your financial needs and goals. Understanding your pension options is crucial for planning a secure and comfortable retirement.
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How Do I Decide between the Lump Sum and Monthly Payments?
To determine whether taking monthly payments or a lump sum is better, you should consider several factors:
Investment Risk
If you take the lump sum, it needs to be invested wisely to achieve the expected return. Consider market risks and your investment strategy.
Life Expectancy
If you live longer than expected, monthly payments may provide more financial security.
Inflation
Monthly payments might not keep up with inflation unless they are specifically inflation-adjusted.
Personal Financial Situation
Immediate financial needs, debt, and other financial goals can influence your decision.
Need more help?
Consult a Financial Advisor for Your Aflac Pension
Navigating your Aflac pension options can be complex. Consulting with a financial advisor can help you analyze your specific situation and make well-informed decisions tailored to your needs.
Knowing Which Way to Go with Your Aflac Pension
Deciding between monthly pension payments and a lump sum payout can be complex. Always consider consulting with a financial advisor to analyze your specific Aflac pension options and make the best-informed decision for your financial future.
Trustworthy Advisors to Guide You to Your Personal Goals
Momentum’s approach combines client-focused financial planning with the latest technology to simplify decisions and put you in control of your future. We work transparently with our clients, ensuring they understand the “why” behind every decision in their plans.