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I have a pension plan at work. What distribution option should I choose?

Congratulations!  Pension plans – with a guaranteed retirement income stream – are a wonderful benefit.

A commonly used option for a married couple is Qualified Joint and Survivor. This might be a good option if your spouse has a pension or other sources of cash or if there’s a significant difference in your ages or health.

For a single person with heirs, Life with 10 Years Certain is the common method of receiving pension benefits. If you don’t have heirs, you might want to look at other options.2