Quote:
Originally Posted by ton80
In my case 22 years ago, the Defined Pension Benefit was a retirement pay equal to 1.6% times the years of accredited service times your best 3 years of your last 5 years salary as long as you reached retirement age of 55 yrs old at retirement. Earlier retirement had some severe penalties. There was no lump sum annuity set up for all retirees. The Company paid retirement from current income and profits. They also used these sources to fund most projects. Things have changed
They also offered similar options as in the original post. If the wife were not a beneficiary SHE must sign a document stating that she agreed with that.
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LOL. That is great if the wife knows what she is signing. My cousin was a military wife who signed the document, but didn't know that she wasn't a beneficiary until after her husband died.