In recent weeks, you may have seen news articles about schemes that have preyed on retiree pension checks. This practice involves selling your future stream of monthly pension checks in exchange for a lump-sum payment now.
SDCERS has no knowledge of this happening to any of its members. However, before making an investment decision of this kind, SDCERS recommends that members proceed with great caution to fully understand the potential risks and costs involved.
Read the alert issued by the Financial Industry Regulatory Authority here.
For further information, read coverage by the New York Times here.