Visteon has announced the Visteon Pension Accelerated Payment Program. This program will offer approximately 10,000 eligible retirees a voluntary lump sum pension benefit payment option. By taking advantage of the lump sum pension payment option, Visteon retirees may reduce many potential pension risks including longevity risk due to inflation, tax risk, and mortality risk. Most importantly it will completely eliminate "PBGC risk" - the risk that monthly pension payments are someday reduced by the Pension Benefit Guaranty Corporation.
Visteon retirees that are being presented with these new pension payment options will have only a short window in which to make their decision. if you are considering the pension lump sum offer, review Mainstay's “Pension Lump Sum Buyout Program” summary and visit our “In The News” section to review recent articles discussing pension lump sum payments. You can also contact Mainstay toll-free at 1-866-444-6246 to discuss your personal situation.