We know from experience that the utility industry has undergone dramatic changes in its pension options over time, which understandably can be confusing. Older legacy employees might have an option of a traditional defined benefit pension but may also have various lump sum pension options as an alternative. Some newer employees may have pension options but with reduced benefits compared with their predecessors. We make it a point to stay current on all changes, whether it’s with pensions, healthcare benefits or any issues impacting retirement.
We’re well-versed in issues such as Social Security supplements to pensions, actuarial differences in pension income, survivor benefits within company-defined benefit plans and joint survivor payout options. Our priority is to help our clients in the utility industry make their accumulated wealth the powerful tool it’s intended to be.