Q&A: Alternatives to LIRAs
Question: My wife and I have an option to receive the commuted
value of her pension and have begun an interview process to determine whether
to select a new advisor, confirm our current financial advisor, or to move the
money into a self-directed account.
Would you tell us if you are aware of any alternatives to LIRAs, into which
we might be able to transfer the funds? Preliminary calculations indicate that
our returns would be superior to leaving the money in the current employer’s
pension plan, but the idea of being even more ‘managed’ by government is somewhat
distasteful to both of us, as is the idea of being forced to buy an annuity
with remaining money when the age limit is reached. – M.S.