Welcome to the Jill on Money Show, it's Sunday, August 7th.

And we are here every day, seven days a week, answering financial questions, or maybe

just giving you another set of ears and eyes on your financial situation, or a particular

question, or something that's bugging you, anything like that.

All you need to do is go to JillOnMoney.com, click the contact us button, don't forget to

let us know if you want to come on the air, and mark does everything else.

Today, we are talking to Phil from Tennessee.

So I don't know, 15 years or so ago, my employer, like a lot of other employers, decided to

get rid of the traditional, defined benefit pension, and move everybody to a 401K, they

got their matching and all, which was nice, I didn't have to do that, I guess.

So one thing they did do was they created this thing, they called a personal pension account,

and it seems to act, or has acted like a savings account and grown very slowly, but it never

went down.

But anyway, I'm 58, and I'm looking to retire and start a new career, I've got this choice

to make of what to do with this account, basically saying I can take along some, they will purchase

an annuity for me, and there's like a hundred different flavors of the annuity between

me and my wife, and does it disappear when I die, does it disappear when she dies, does

it stay level, so the last one dies, all that kind of thing.

In the fine print, it does talk about that it subsidized for people that are returning

early in the employers, but does something get smaller and smaller.

The closer you get to 65, I found a calculator on the internet somewhere where I could compare

along some of the annuity and put all the interest rate to kind of see what might be the best

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