We offer two simple ways to connect, depending on where you are in the process:Introductory Call (15-30 minutes): A quick, no-pressure conversation to understand your situation, answer any initial questions, and see if it makes sense to go further. Schedule Here1-Hour Consultation (Phone, Zoom, or In-Person): A more in-depth discussion where we can start walking through your retirement picture and begin outlining potential strategies. Schedule Here
You will hear from our office to confirm your appointment. Then we'll have a brief, no-pressure conversation to understand your situation and answer your questions. If it makes sense to move forward, we'll outline next steps. If not, we'll point you in the right direction.
We specialize in helping current and former employees of Ford, General Motors, and Stellantis (formerly Chrysler) navigate retirement. Whether you're salaried or UAW hourly, we understand the unique benefits, pension structures, and decisions you face.
The Autoworker's Guide to Lump Sum Pensions is our free online book built specifically for Big Three employees. It covers the 5 crucial retirement decisions you'll face, including pension vs. lump sum, 401(k) rollovers, NUA strategies, annuities, and Social Security timing—all in one place so you can make informed decisions. Read it free at bigthreeretiree.com/autoworkers-guide
No. For those with $500k, our initial consultation and second consultation are provided at no cost. Our goal is to help you understand your options before you make any major decisions.
We follow a structured planning process designed specifically for Big Three retirees. It covers income, investments, taxes, healthcare, and legacy planning—so nothing important gets missed.
We primarily work with individuals and couples nearing or entering retirement who have built significant assets through their Big Three careers—typically those with $1M–$10M in investable assets and important decisions to make around pensions, taxes, and income planning.
Yes. Richard W. Paul & Associates is held to a fiduciary standard, meaning we are legally required to act in your best interest at all times.
No. We are an independent firm and are not employed by or affiliated with any of the Big Three automakers. This allows us to provide unbiased advice.
Yes. While we are based in Michigan, we work with clients across the country through virtual meetings, with in-person meetings available if preferred.
We charge a percentage of assets under management, billed monthly. There are no upfront planning fees—comprehensive planning is included as part of the relationship. Specific fees are discussed during your consultation.
Clients value having a dedicated team handling investments, tax strategy, healthcare planning, and retirement income decisions. Thoughtful planning and avoiding costly mistakes can often make a meaningful difference over time.
Yes. We manage investments as part of providing a fully integrated retirement plan.
Your assets are held with an independent third-party custodian (typically Fidelity) for safety and transparency.
No. You can end the relationship at any time. We want clients to stay because they see value—not because they feel locked in.
We take a team-based approach. You'll have access to multiple professionals across planning, investments, and strategy—not just a single advisor.
To protect client privacy, we don't provide direct references. However, you can review public feedback and explore our educational content to better understand our approach.
No.
There's no one-size-fits-all answer. It depends on your health, life expectancy, your spouse's needs, other assets, and your comfort with market risk. What we typically recommend is looking at both scenarios side by side—one with the pension and one with the lump sum—so you can clearly see how each decision impacts your income, taxes, and long-term plan. If you'd like help building that comparison out, you can reach out using the chat in the bottom right.
No. Once you make your election, it's permanent. That's why it's so important to get it right.
The companies use IRS "segment rates" (interest rates) to convert your future pension payments into a lump sum value today.
Potentially—but not always as much as expected. Lump sums are influenced more by long-term interest rates than short-term Fed changes.
In many cases, retirees who choose the lump sum option, opt to create a pension like income through the use of an annuity with a portion of the funds, and invest the remainder for long term growth and flexibility.
Yes. Traditional Big Three pensions (monthly defined benefit plans) are insured by the Pension Benefit Guaranty Corporation (PBGC), a federal agency that provides protection for private company pensions.
Not always. PBGC guarantees pension benefits up to certain limits, which vary based on your age and when you start receiving benefits. Higher-income pensions or early retirement benefits may be reduced if PBGC ever had to step in. You can view the current PBGC maximum benefit limits here: Schedule Here
It can be one of several factors. While PBGC provides a level of protection, it doesn't guarantee your full benefit in all situations. Understanding how your pension compares to the lump sum—and how much of it would be protected—is an important part of making an informed decision.
For salaried employees, lump sums are typically only available during certain windows or for terminated vested participants. UAW hourly retirees generally do not have a lump sum option.
The IPR (Incentive Program for Retirement) is a one-time incentive to retire. It is separate from your pension benefit.
You'll need a plan for healthcare coverage until Medicare begins. Some retirees have company coverage, while others must use COBRA or ACA plans.
Costs vary widely, but a common planning range is $15,000–$30,000 per year for a couple, depending on coverage and income.
Yes. With proper income planning, many retirees qualify for meaningful subsidies that reduce healthcare costs.
You become eligible for Medicare. Many retirees transition to a Medicare supplement or Advantage plan, often with employer support.
It depends on your situation. Claiming early reduces your benefit, while delaying can increase it significantly. We help determine the best timing.
For most Big Three retirees, no. These are private pensions, so common government offsets like WEP typically do not apply.
It depends on your mix of accounts. Strategies like Roth conversions and tax bracket management can significantly reduce lifetime taxes.
Not always. If you're retiring after 55 and before 59.5, you may be able to take from the 401(k) and avoid the 10% early withdrawal penalty. Others may benefit from more flexibility in an IRA. We help evaluate this.
You may qualify for a Net Unrealized Appreciation (NUA) strategy, which can provide favorable tax treatment if handled correctly.
Still Have Questions?
Schedule a free consultation or give us a call to discuss your specific situation.
(248) 305-9911