Are you a Lockheed employee married or partnered to another Lockheed employee? Do you know how being dual Lockheed employees affects your decision on your pension survivor benefit?  If not, then keep reading because you’re about to find out.

The pension survivor benefit was designed to allow a Lockheed employee’s surviving spouse or partner the ability to continually receive the pension of the deceased Lockheed employee.  The survivor benefit amount can range from 0-100% of the employee’s pension based on the option selected upon the employee’s retirement.

But what happens when both persons of the couple are Lockheed employees?  The answer is simple: only one person in the couple should select the survivor benefit and the other should select no survivor benefit, otherwise known as single life only.  That’s because one person in the couple is going to die first, which means if they both selected a survivor benefit, then one of them is guaranteed to never receive it.

Which person in the couple should select the single life only survivor benefit?  Two primary variables to consider when making the decision are:

  1. Who has the longer life expectancy?
  2. Who is in better health?

If the answer to the above two questions is the same person, then typically, that person may be the best one to select the single life only. The other person with the shorter life expectancy would then select one of the survivor benefits.

To truly know the answer to this question for your specific situation, give us a call.  We specialize in these situations and know how to truly analyze and plan for this.

For more tips like these, click here to sign up for our weekly email blog newsletter. If you would like to get better educated on Lockheed retirement strategies, click here to download our Free Report titled Retire with Confidence: The Top 4 Things You Can Do Now to Maximize your Lockheed Retirement. And, if you want to have face time with a Lockheed Retirement Specialist², you can click here to schedule an appointmentclick here to sign up for our Lockheed Retirement Workshop or click here to just give us a call (817) 210-3444.

Be sure and check back next week for more incredibly valuable information. Cheers!


Financial Planning and Investment Advisory offered by SWMG, LLC a Registered Investment Advisor.

Lockheed Retirement Specialist is not an official title or professional designation nor is it conferred by Lockheed Martin on any individual or company.

Our Complementary consultation and free report are for informational purposes only and provided free without any obligation to utilize or retain our investment advisory services.

SMWG, LLC is not affiliated with or endorsed by Lockheed Martin Corporation. Our expertise comes from working with LMT employees for several years and helping them to retire with confidence.

Investing involves the risk of loss, including loss of principal. Past performance does not guarantee future results. Investment products are not FDIC insured, have no bank guarantee, and may gain or lose value. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable for a client’s investment portfolio.

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