No, you don't need to leave it in the Plan. But, some Plans allow you to leave your money in the Plan. This option may be appealing if you are happy with the investment choices the plan has to offer and you want to continue to manage and rebalance the assets in this account. Remember that, the investments you choose should correspond to your financial needs, goals, and risk tolerance. You may want to speak with a financial professional about other available distribution options that may be suited to your financial situation and retirement strategy.

Yes. If your money remains in the Plan, keep in mind that at age 70 ½ distributions must begin and federal and possibly state income tax withholding applies. Use the Required Minimum Distribution Calculator to determine the distribution amount you will be required to start taking at age 70 ½ from tax-deferred accounts including IRAs, 401(k), 403(b) and 457 plans and other tax-deferred plans. You may want to speak with a financial professional about other available distribution options that may be suited to your financial situation and retirement strategy. This information is written in connection with the promotion or marketing of the matter(s) addressed in this material. This information cannot be used or relied upon for the purpose of avoiding IRS penalties. These materials are not intended to provide tax, accounting or legal advice. As with all matters of a tax or legal nature, you should consult your own tax or legal counsel for advice.

Yes, you can take a lump-sum distribution. Some retirees choose to withdraw part or all of their retirement savings at once, then invest it themselves or spend it. Such a move triggers serious tax consequences: The government withholds 20% toward income taxes immediately – and, depending on your income tax bracket, you may have to pay more by April 15. And if you're under age 59 ½ when you take this distribution, you'll be charged a 10% early withdrawal penalty to boot. In one move you may have slashed the amount of money you've saved and possibly damaged your financial prospects for retirement. You may want to speak with a financial professional about other available distribution options that may be suited to your financial situation and retirement strategy. This information is written in connection with the promotion or marketing of the matter(s) addressed in this material. This information cannot be used or relied upon for the purpose of avoiding IRS penalties. These materials are not intended to provide tax, accounting or legal advice. As with all matters of a tax or legal nature, you should consult your own tax or legal counsel for advice.

Yes. You can rollover your account to an Individual Retirement Account (IRA). The advantage of an IRA is that you will have more investment options to choose from than those in your Plan. Use the Lump Sum vs. Rollover Analyzer to determine the impact of a lump sum distribution compared to an IRA Rollover. You may want to speak with a financial professional about other available distribution options that may be suited to your financial situation and retirement strategy. This information is written in connection with the promotion or marketing of the matter(s) addressed in this material. This information cannot be used or relied upon for the purpose of avoiding IRS penalties. These materials are not intended to provide tax, accounting or legal advice. As with all matters of a tax or legal nature, you should consult your own tax or legal counsel for advice.