Each takes home 40 million
What the heck happened to the other 141 million???
Sounds like a real good deal Uncle Sugar has, huh?
Just wow.....
The 221 Million is if you take the yearly payments.
They have a cash option which is roughly 1/2.
Split between two people, then take
24% federal tax
whatever Indiana’s tax is
Local tax
From each.
Mike
Cash value reduces it by 40%, then all the Federal and State taxes (millionaire tax if in CA or NY), so yes, the Government wins, and another 300 lb. slug in the Social Services Dept. gets another fat pension check.
See how it works?
The non-producers have tilted the table to feed themselves by taxes, fees and licenses.
They produce nothing and get a bloated, lifetime cashflow from someone who rises early, stresses all day and then works late to make ends meet.
We are in the USSR, we just haven’t changes the name yet.
That’s what you get when you choose the “lump sum” option instead of spreading it out over 20 years in payments.
The state might be very broke before that 20 years is up, so I would also take the lump sum.
It’s 40 mil more than they had before they cashed it in.