Following is a thread of emails on the Pension subject:

Subject: Singer Pension TIP
Date: Mon, 19 Feb 2001 09:24:29 EST
From: HusHearts@aol.com
To: lAL@grinet.com

Dear Life After Link-ers, I recently started withdrawing from the Singer Pension plan at 55. Although not a prerequisite for starting withdrawals having separated from Hughes in 1996, I am retired from BAE SYSTEMS effective 3/1/01. I found out something significant I want to share concerning our Singer pension.

As anyone who has asked for pension calculations knows, the Singer plan is pretty poor. I had asked for estimates along the way and they continually dropped as time went on, the last time due to having left the successor company of Link. In frustration I asked for plan info, and finally asked for the bridge to social security calculation. The sum of the monies I will collect from 55 to 62 is essentially the same as receiving my "normal" amount for 20 years, and who knows if I will be here that long. Considering the time value of money, and the opportunity to grow it if you invest, there really was no choice for me. Of course after 62 I get nothing (actually $6 per mo.). Thus my tip is to consider this type of withdrawal if you are 55 and no longer with a Link successor company (eg L3COM). 

Hope this helps some of you. John Hussar (Link-Binghamton from 1966 to 1996)

Subject: Early Link Retirement
Date: Mon, 19 Feb 2001 23:01:05 -0500
From: "Jim & Gail Zehner" <jgzehner@jhu.edu>

The message sent out earlier today by John Hussar is referring to the "Level Income Option" for taking your early retirement from the Link plan (Lockheed Martin) prior to age 62. I initiated my early retirement last year when I turned 55 using this option for the very reasons mentioned; i.e., bigger payout early. I also had taken my employee contributions two years earlier (available at any time before retirement and if rolled over into an IRA will not cause a taxable event).

I have discussed this at various times with numerous Link employees who are considering the same option. I have attached a description of the necessary steps and a sample letter in case you want to pursue this option.

If you have any questions, please contact me using my e-mail or call me at 800-296-2622.

As a Registered Representative and a licensed Life/Health Insurance Agent this is what I have been doing for the last 6+ years since Silver Spring closed. Please call me to help you with any investment or insurance choices you may consider.

Jim Zehner