re: Need advice on pension benefit

you could also look at it from an estate planning angle. what happens to annuity if you and wife pass before you reach 65 and thus before you start receiving annuity. does it disappear or does your estate get some benefits. self directed ira would go 100% to state. also, it is unusual for the spouse to get the same max benefit as employee. spouse would normally get less than EE amount unless EE elected a lower original payout that resulted in a constant income stream until both are deceased. remaining amounts in a self directed ira would survive both marriage partners.