"Allow the pension plan to provide in-service distributions (i.e., pension income) to help offset reductions in pay. ... [C]onsider offering a lump sum window.... Another possibility is an early retirement window.... [C]onsideration should be given to the opportunity cost associated with lost future asset returns when lump sums are paid from the plan. However, the strategy may result in a net savings beyond the effects of a reduction in ongoing pay-related costs."  MORE >>