What OJ Simpson Can Teach You About Retirement Security

Last week ESPN posted an article that “OJ Simpson may have made more than $600K while incarcerated.” Initially, I was amazed to think he was still receiving endorsement money. But when I clicked on the article, I discovered the money came from something very familiar to us at IAI: his pension. While the terms of the NFL’s pension plan are public information, the true amount OJ receives as retirement income depends on the date he elected to begin payments. I did not fact-check ESPN’s estimate (as a side note, CNN Money estimated his maximum payments at $566K), but their math and explanation are clear and reasonable. The biggest takeaway for our clients at IAI is how safe your money is in a retirement plan. Due to anti-cutback rules on accrued benefits, and anti-assignment rules protecting retirement income from creditors, a retirement plan is arguably the safest way to protect your money for the future. If you are interested in learning more about how a retirement plan can help you accumulate and protect your wealth, please contact IAI for more information.