Why Choose PLSO?
We have heard from many PEERS members who have voiced concerns that financial advisors, private insurance companies and retirement planners are pressuring them to elect PLSO when they retire. They are encouraged to invest the funds elsewhere or use the lump-sum amount to purchase insurance policies that will provide protection in the form of an annuity for the member’s spouse or loved one.
PEERS does not take a position for or against a member choosing PLSO at retirement. Since your monthly benefit is actuarially reduced to offset the payment of the PLSO amount, you are actually “paying” for the right to receive part of your PEERS benefit up front in a lump sum. In addition, the decision to do so may include many personal reasons PEERS is unaware of (paying off medical bills, leaving an inheritance, building a nest egg, etc.). The list can be endless and only you can decide the importance of each factor.