General Motors has offered about 42,000 of its white collar employees a lump sum buyout from their pension plans. The employees were offered either to keep the monthly pension payment they were entitled to or a lump sum, with the lump sum being set at an actuarially fair level: present value of the stream of benefits, using a unisex life expectancy. The latter is required by law.
Just this week, GM reported that about 1/3 of the eligible folks opted for the lump sum. See this Chicago Tribune article for details.
Now, wouldn't it be neat to see the gender breakdown of those taking the lumpsum as compared to the gender mix in the eligible pool? Since women live longer than men on average, and the lumpsum had to be set using average life expectancy across men and women, women should take the pension stream and men should take the lump sum (ceteris paribus, of course).