When you become eligible to receive payment of your account balance as outlined above, you may choose (with spousal consent if you are married) to have it paid to you in one of the following ways:
- A lump sum distribution, up to 100% of your account balance. You may request a partial distribution once during a 12-month period. By electing this option, your retirement funds stay invested until you need them. You may take a second distribution from your account during the same rolling 12-month period, provided the second distribution is for the full amount remaining in your account. You may elect to receive this payment in a:
- Direct rollover to another qualified retirement plan or an IRA;
- Check payable to you; or
- Combination of the above, provided the direct rollover portion is at least $500;
- A series of equal monthly, quarterly, semiannual, or annual installments over a certain period, but in no event longer than the joint and last-survivor expectancy of you and a beneficiary.
- A partial lump-sum distribution in conjunction with equal monthly, quarterly, semiannual or annual installments.
Certain installment payments are only available if your account balance exceeds $1,000. You may consider a change to your installment method, once a year, in a rolling 12-month period.