Auto Workers Decision Points Worksheet

1. Retirement Decision Points | Worksheet
Defined benefit lump sum vs. annuity
Date _______________________
My financial advisor and I have discussed the following key decision points related to a lump sum vs. an annuity payment from a defined benefit
(DB) pension plan.
Consideration Yes No N/A Comments/Next steps
Have you determined whether you currently have, or have had in the past,
a DB pension plan?
Have you determined whether you have a distribution triggering event that
would allow you to begin receiving benefit payments from your DB
pension plan (e.g., separation of service from sponsoring employer)?
Have you determined whether your DB pension plan allows your benefit
payment in the form of a lump sum in addition to an annuity option?
Have you discussed the pros and cons of receiving your benefit in the
form of an annuity related to the following areas?
Ability to roll to an IRA
Control of assets
Beneficiary options
Investment risk
Taxes and penalties
(1)

2. Guaranteed income
Potential for investment growth
Have you discussed the pros and cons of receiving your benefit in the
form of a lump sum related to the following areas?
Ability to roll to an IRA
Control of assets
Beneficiary options
Investment risk
Taxes and penalties
Guaranteed income
Potential for investment growth
Have you discussed with your tax advisor the potential tax and penalty
implications associated with taking a lump distribution or annuity from
your DB pension plan?
(2)

3. Based on our discussion, I have decided upon the following course of action:
___ No action at this time
___ Annuity payments
___ Lump sum distribution — No rollover
___ Lump sum distribution — With rollover
___ Other, explain: _______________________________________
___________________________________________________________________________
Financial Advisor Date
___________________________________________________________________________
Investor Date
This material is for educational purposes only. It cannot be used for the purposes of avoiding penalties and taxes.
Columbia Management does not provide tax or legal advice. Consumers should consult with their tax advisor or attorney
regarding their specific situation.
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