Many executives and managers getting ready to retire from the nation's largest companies will soon make one of the most important financial decisions of their lives. Those lucky enough to receive a private pension will choose between a one-time lump-sum payout or a monthly payment for life. This irrevocable decision will affect their finances throughout their retirement years.
This choice is imminent for the large chunk of soon-to-be retirees who plan to call it quits on March 31. That's because most executives wait until they receive their 2015 bonus and stock grants; the bonuses are paid in February or March, which often matches the timing of stock grants vesting.