Looks like Congress recently changed some pension laws in a way that makes it extremely important for anyone who has the option to take a lump-sum from their pension to do it ASAP:
Are you now or have you ever been covered by a defined benefit pension, the kind that pays so many dollars per month? Would you prefer to take your benefits in a lump sum?
Then pay attention: The lump sum benefit you've already earned is likely to shrink over the next five years. In 2006, in response to complaints from corporations that the old method for calculating minimum lump sums was too generous, Congress created a new, less generous one. It's being phased in over five years, beginning in 2008. Younger workers take the biggest hit; by 2012 lump sums for today's 35-year-olds are projected to be 44% lower than they would have been under the old law. And since this was Congress' doing, the Internal Revenue Service has ruled that employers don't even need to warn employees about the change.
Not me, more than 11 million Americans will be affected by this change in law.