AN Pension Information

American National Insurance is terminating its pension program, which means those affected will have decisions to make about their pension benefits. If you’ve received a notice, you may have options for how to manage those funds.

May 19, 2025 Update: 

 

You may have recently received a letter in the mail with the subject line: Notice of Plan Benefits and Supplemental Notice of Annuity Information – Eligible Schedule One Employee. If so, you should immediately review your participant data and respond no later than May 23, 2025 if any changes are needed or if additional information should be provided. If your information is correct, no immediate action is needed. 

 

Note: If you were previously married, a copy of your Divorce Decree and any Qualified Domestic Relations Order (QDRO) is requested. Not providing this documentation will delay the process for you. If you did not have a QDRO, be sure to provide a copy of your Divorce Decree and check the box No QDRO exists. 

 

While this letter does not provide your official offer, it does outline what your payout options will be. As I suspected, you will be given a lump sum option as well as several annuity options. It also provided a list of annuity companies that may be used but mentioned the company will not be selected until the plan termination is complete. 

 

It seems your official offer should be arriving in the coming weeks. In the meantime, if you have questions about the most recent letter you received or if you want to make sure you are prepared when your offer does arrive, please reach out. 

Schedule A Pension Consultation With Me

During your pension consultation, I will explain the following: 

  • The Anticipated Timeline of Events 

  • Your Rights and Options

  • The Pros and Cons of the Options You'll be Provided

  • Your Investment Options if Electing the Lump Sum Option

This could be a tremendous opportunity for you to make the most of your vested pension benefit. We encourage you to have your spouse or significant other join us.

*Please share this information with other co-workers or friends who may be impacted. 

You may schedule a free individual consultation here:

About Your Advisor

Stephanie Hohenshell, founder and owner of Hohenshell Financial, Inc., began her career at American National Insurance, where she spent 10 years as a home office employee. During this time, she gained firsthand knowledge of the company’s pension program and developed a deep understanding of its structure and benefits. This experience, combined with her financial expertise, allows her to provide clear guidance to employees navigating pension decisions.

Based in Springfield, MO, Stephanie is a Missouri State University School of Business graduate and a Retirement Income Certified Professional (RICP). She holds FINRA Series 7 and 66 licenses, along with several insurance licenses.

At Hohenshell Financial, we specialize in helping individuals create secure income streams in retirement, evaluate Social Security options, develop tax-efficient withdrawal strategies, and plan for healthcare costs. Our advisory services provide a structured, transparent approach to managing investments and building financial confidence throughout retirement.