Check out what Gerald Celente has to say about pensions....
Yes...lump sum is a possibility (being weighed against the immediate annuity, which actually isn’t bad right now, either).....it’s more a decision of whether to hang on and work (only 58 years old) if possible, or not....inclining toward the NOT!
“If you have a choice...take a lump sum (the bird in the hand)...”
...that’s what I did when my Ohio based employer gave me forced early retirement 10 years ago...I’m glad it happened when it did....that company is in bad shape today and I probably wouldn’t get a lump sum...their stock is trading at $1.50 and has been de-listed from the NYSE