If you're retired or nearing retirement age, you probably have some questions about your retirement pension. When you have a defined-benefit plan, you'll have to make some tough choices when you apply for benefits.
Selecting a pension option that guarantees benefits to a spouse after your death can bring peace of mind but also smaller monthly payments. A pension option that only pays through your lifetime can provide larger monthly benefits, but requires a lump-sum payout to protect the surviving spouse.
Our pension calculator can help you hash out the important details. To learn more about defined-benefit pension plans, take a look at our detailed FAQ below. If you like this calculator, please share it with your friends.