Pension Maximization: Optimizing Employer Retirement Benefit
By Department of Labor EBSA | 8 min read
Maximize pension benefits with Department of Labor guidance. Payout options and survivor benefit considerations.
Pension plans offer guaranteed retirement income but require careful decision-making. Pension vs lump sum: Consider life expectancy, investment knowledge, survivor needs, inflation protection. Pension maximization strategy: Take single life pension and buy life insurance for survivor protection. Joint and survivor options: Provide continuing income for surviving spouse at reduced monthly benefit. Consider federal pension systems (FERS, military) and state teacher retirement systems.\n\n**Related Resources**\n- [Financial Planning Tools](/tools)\n- [Budget Calculator](/budget-planner)\n- [Credit Guide](/category/Debt%20%26%20Credit)\n- [Money Saving Tips](/category/Save%20Money)