BST & Co. CPAs, LLP to host free seminar for GE employees impacted by pension freeze
ALBANY, New York, October 23, 2019 – BST & Co. CPAs, LLP, one of the Capital Region’s leading financial and management consulting firms, will welcome GE employees affected by the recent pension freeze to learn about their options during a free seminar on Wednesday, November 6 from 9 to 10 a.m.
In early October, GE announced that it will freeze pension benefits for about 20,000 salaried pensioners and will offer approximately 100,000 former workers a limited-time option to take their pensions in a lump sum.
During the event, retirement services and wealth management professionals will help pensioners understand the pros and cons of electing a lump sum versus annuity payments, including the potential taxation of both choices; rollover options for those that elect the lump sum; and survivor benefits.
“GE retirees and former employees are facing a challenging quandary of whether to take a large one-time payout or continue with guaranteed monthly payments. We will break down the benefits and drawbacks associated with each option and help pensioners understand and evaluate the opportunities available to them,” said BST & Co. Managing Partner Ron Guzior. “We encourage those impacted by the pension freeze to learn more about this critical step in their retirement planning process by joining us during this free event.”
The seminar will be held at BST’s headquarters at 26 Computer Drive West in Albany. Seating is limited and registration is required. To register, visit https://conta.cc/31BJcmJ.