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Don’t Make Me Say I Told You So 11

Employers Are Cutting Defined-Benefit Pension Plans
Number of Defined Benefit Plans 1975 - 2017
180k
160k
140k

120k
100k
80k

60k
40k
20k

0k
1975 1980 1985 1990 1995 2000 2005 2010 2015
Source: Morningstar, 2020

The acceleration of pension freezes and closures raises anew

the question of whether the Baby Boom generation is financially
ready to retire. The pension plan is quickly disappearing as a

retirement vehicle. If you are one of the people who still has a
pension plan, there is a chance that it may be either terminated

or frozen in the future, leaving you with several things to
consider:

► Should you take a lump-sum distribution?

► If you take a lump-sum distribution, will you lose your
health insurance benefits?

Chapter 1: The New Retirement