Partial Lump Sum Payment Options

You may choose to receive a one-time payment for up to 36 months of the standard annuity payment at retirement. If you choose this option, you will receive your partial lump sum with your first annuity payment in the month following your retirement. Keep in mind:

• Choosing this option permanently reduces the amount of your month annuity.
• Only available once at retirement.
• Subject to federal withholding taxes (at least 20%) unless rolled over into an eligible qualified retirement plan (like an IRA).

Not available to:

• members retiring with a disability retirement;
• members retiring with a reduced monthly payment due to age; or
• members retiring under the Proportionate Retirement Program.