Welcome to the CES-CREWS website. This area of the site is specifically for Bronze Craft pension plan participants.
You’ve been told you have the option of converting all of your pension plan to an immediate cash payment (a “lump sum”). What should you do? Just as important, how do you even think about this in a sensible way?
Bronze Craft is terminating its traditional pension plan, and you are being offered a one-time opportunity to take a lump sum in exchange for giving up any future benefits you otherwise would be entitled to.
You will have the choice to receive your benefits in a lump sum, which may be rolled over to an individual retirement account (IRA) or to an eligible retirement plan of your current employer. If the funds are rolled over, there will be no current tax consequences to you.
If the lump sum value of your pension benefits is more than $5,000, you will also have the choice to have your benefits provided through the purchase of an annuity from an insurance company.
There is more than one way to think about this decision. Taking the lump sum means you have an immediate financial windfall. What’s more exciting than that? And who doesn’t have a mental list of great things that could be done with a windfall?
Then again, if you take the lump sum, you may be cheating your own future, or that of people who depend on you. Maybe that money is going to mean a whole lot more to you later than it does now, not least of all because if left alone, it is likely to grow.
Of course, if the lump sum amount is small, none of this matters a great deal. But if it represents more than a few paychecks to you, then it’s worth putting some serious thought into.
And that’s what this guide is for.
Please click on the image of our detailed guide: "Should You Accept A Lump Sum From Your Pension Plan?" for more detail and information regarding lump sum elections...
Your benefits are guaranteed whether they're paid from your existing pension or from an insurance company. But the nature of the guarantees differs. If you want to read about this in detail, click here.
The Raymond James office in Nashua, NH is also available to provide general investment education to you on a one-on-one basis. Again, this option is offered at no charge to you. In-person sessions or phone sessions are available. Raymond James can:
The Raymond James office in Nashua is also available to provide general investment education to you on a one-on-one basis.
Schedule a zoom or phone meeting with Garry Clarke-Pounder to:
For more information, please call (603) 204-5000:
Garry Clarke-Pounder, CRPC
60 Main Street, Suite 215
Nashua, NH 03060
Of course, you can also contact your own personal financial advisor for information and advice concerning the election of a lump sum in lieu of the pension benefits.
Investment Advisory Services offered through Raymond James Financial Services Advisors, Inc.
Of course, you can always call Bronze Craft with any questions or concerns.
We look forward to helping you make the right decision regarding this important decision. Please let us know how we can help by calling:
Bev Coelho at (603) 883-7747
Lump Sum Analyzer
Would you like help deciding?
By spending a bit of time with our Lump Sum Analyzer (LSA) system you can see the impact of the pension vs. lump sum using your own personal financial and other information...
It might prove useful to do a bit of research into your retirement information before engaging the LSA so we have prepared a worksheet for you to look at before you begin. To review click here.
Otherwise, just dive in. You can use the system as much as you like during the election period.
For assistance email us at info@CESCrews.com.