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Lewis left Bank of America with more than $135 million in retirement benefits, including a pension and $10 million in life insurance benefits, according to an analysis of corporate filings by James F. Reda & Associates, an independent consulting firm.
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina, with investment banking and auxiliary headquarters in Manhattan.
Pensions in the United States consist of the Social Security system, public employees retirement systems, as well as various private pension plans offered by employers, insurance companies, and unions.
Unfortunately, few pension plans offer the flexibility to combine lump sum and annuity payments, according to the Consumer Financial Protection Bureau.
What would Americans pay for an extra year of good health? $200,000, report suggests ... Everyday Wealth in America found people are split essentially 50-50 on the choice between health and money ...
Workers said they were looking for wage increases closer to the 40% that the union had proposed as well as annual bonuses and a restoration of pensions lost more than a decade ago.
Retirement plans in the United States Average balances of retirement accounts, for households having such accounts, exceed median net worth across all age groups. For those 65 and over, 11.6% of retirement accounts have balances of at least $1 million, more than twice that of the $407,581 average (shown). Those 65 and over have a median net worth of about $250,000 (shown), about a quarter of ...
The post Should I Take a $48,000 Lump Sum or $462 Monthly Payments for a Pension Annuity? appeared first on SmartReads by SmartAsset.