SMP FAQ - What are my options at retirement?

June 28, 2016 - 10:12
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Question: 

What are my options at retirement?

Category: 
Distribution Options/Health Insurance
Answer: 

Essentially you have three options at the time of termination/retirement. First you may leave your money in the SMP plan until age 70 1/2 when the required minimum distribution (RMD) is required in most circumstances. Secondly, you may take a lump-sum distribution. Finally, you may elect to take a lifetime annuity payout which you cannot outlive.

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