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PBGC Director Discourages Employers From Offering Lump-Sum Buy-Out to Current Retirees
Detroit Free Press Link to more items from this source
Aug. 5, 2012
"Joshua Gotbaum, director of the PBGC, [said] many retirees could be making a bad move if they decide to take the cash. It is one thing, he said, for employers to offer a lump sum to workers who are leaving the company or just retiring. But he maintains that it's a tragedy when employers dump their retirement responsibilities by asking someone already in retirement to give up a pension check in exchange for a one-time payout. 'It's quite another thing to say when you're retired "Why don't you stop being a retiree and start becoming a professional investor?"'[.]"

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