If you have a Massachusetts pension, you’re already in a strong position. For many people, that pension covers a large portion of their retirement income needs and sometimes most of it. That’s the good news. The problem is that too many people stop there. The pension is a solid start, but it’s just the foundation I like to explain it this way:

Choosing between Massachusetts Pension Options A, B, or C is one of the most important retirement decisions Massachusetts public employees make. Most people initially treat this choice as a math problem: That’s a reasonable place to start, but it’s rarely the best way to make the decision. In reality, most people want to protect their spouse and make sure household income continues if one person dies first. That’s why choosing a Massachusetts pension option is really about household goals

Learn how the Massachusetts SMART Plan sick and vacation payout works and whether deferring your lump-sum payout into the SMART Plan can help you manage taxes and strengthen your retirement strategy.