Financial Answer Center
Find the answers you need, just when you need them.
The payout option you elect is probably one of the most important decisions you'll ever make. That's because your decision is irrevocable. Understanding your distribution options is crucial to your planning.
Retirement Plan Distribution Options
With a defined-benefit plan, your employer may give you a choice of a fixed monthly payout known as an annuity, a lump-sum distribution, or a combination of both. With a defined-contribution plan, you may be able to exercise these options:
SUGGESTION: If you have both a defined benefit plan and a defined contribution plan and don't need all the income at once, consider taking an annuity payout from your defined benefit plan and letting your money grow tax-deferred in the defined contribution plan.
Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. United Wealth Management is a trade name of United Bank. Infinex and United Bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.