Compare Mississippi’s Monthly Pension Payouts vs. Lump Sum IRA Rollovers
If you’re a public employee in Mississippi nearing retirement, you’re likely eligible for lifetime income through the Public Employees’ Retirement System of Mississippi (PERS). But before you lock in the pension annuity payout option, you should compare it to a personal annuity with a Guaranteed Lifetime Withdrawal Benefit (GLWB). Why? Because personal annuities can offer higher payouts, more flexibility, inflation protection, and a legacy for your family—none of which PERS guarantees.
As annuity brokers, we help you compare your Mississippi pension annuity with the top private annuity options to see which gives you the most income, control, and security.
Below will estimate how much annual income you’ll receive if you roll over the Mississippi State Pension to your own IRA annuity with a GLWB.
Calculator Purpose
The Mississippi State Pension Calculator helps pension owners estimate their monthly payout or assess the benefits of transferring or rolling over their lump sum into a new IRA fixed index annuity. This tool aids in income planning in retirement, allowing you to make informed decisions tailored to your financial goals.
Key Features
- Monthly Payout Option: Estimate the steady income from the state pension annuity.
- Lump Sum IRA Rollover: Compare the benefits of maintaining control over your retirement accounts by rolling over your lump sum into a fixed index annuity with a Guaranteed Lifetime Withdrawal Benefit.
Roll Over to a Personal Annuity With a GLWB
More income. More control. Death benefit protection.
When you retire, you may be given a choice: take your pension as monthly income or take a lump sum rollover. Instead of settling for PERS’s fixed monthly payout, you can roll over your pension lump sum into a personal annuity with a Guaranteed Lifetime Withdrawal Benefit (GLWB). This strategy offers:
Up to 8% income base growth before withdrawals
✔ Protects against market loss and outliving your money
✔ Payouts can start when you’re ready—not when the system says so
✔ Spousal continuation or death benefit options
✔ You stay in control of your money
✘ PERS annuity payments stop at death unless you choose a reduced survivor option
✘ No income growth or inflation protection in PERS payout
✘ You lose control once you lock into a PERS monthly payout
Who Needs This:
Retirees who want to maximize income, protect a spouse, leave a legacy, or retain control over their funds.
Who Doesn’t:
Employees with no lump sum option or those who need 100% predictable, guaranteed income and aren’t concerned with flexibility or legacy.
Keep or Replace the PERS Annuity?
✔ Predictable, guaranteed monthly check
✔ No personal management required
✔ May include limited survivor options
✘ No inflation adjustment
✘ Lower total payout over time in many cases
✘ No lump sum death benefit
✘ You give up control permanently
If you’re offered a reduced payout for spousal continuation or no protection for heirs at all, you’re not getting the full value of your savings. A personal annuity with a GLWB lets you design the income plan on your terms.
Pros and Cons
Monthly Payout from State Pension:
Pros:
- Guaranteed, predictable income for life.
- No need to manage investments.
Cons:
- Limited flexibility or control over the funds.
- Payments stop when you or your beneficiary passes away, depending on plan terms.
Lump Sum Rollover into Fixed Index Annuity:
Pros:
- Don’t give up control over your retirement accounts.
- Offers income planning in retirement with potential inflation protection.
- Funds can grow tax-deferred with market-linked interest.
- Beneficiaries can inherit the remaining funds as a lump sum.
Cons:
- Investment performance may vary depending on the annuity’s terms.
- Early withdrawals may result in penalties.
Other Mississippi Resources
- Explore Mississippi Retirement Planning Resources
- Estimate Mississippi Retirement Income Taxes
- Compare Mississippi Annuity And CD Rates
- Compare High-Yield Savings Accounts In Mississippi
- Compare Long-Term Care Insurance In Mississippi
- Compare Life Insurance Rates In Mississippi
- Contact Mississippi Insurance Department
- Contact Mississippi Securities Division
- Learn About Protection From Mississippi Life & Health Insurance Guaranty Association
Why Choose The Annuity Expert?
Our retirement planners specialize in finding the best solutions for your unique retirement. Whether you want to transfer or rollover your retirement accounts or fund with cash, we help you shop for the best options for your needs. Before you buy, use our calculator and book a no-obligation consultation.
Estimate Mississippi Pension Annuity Payments
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