Educate Yourself

PARTIAL LUMP-SUM OPTION PLAN (PLOP)

FAST FACTS

• The amount of lump-sum distribution you are eligible to receive is based on the monthly benefit amount you are eligible to receive under Plan A.

• The smallest lump-sum distribution available to you is the amount of one month of your Plan A benefit.  (Rounded up to the nearest $1000)

• The largest lump-sum distribution available to you is the sum of 36 months of your Plan A benefit. (Rounded down the nearest $1000)

• You cannot choose a lump-sum distribution amount that will reduce your monthly payment to less than 50% of your Plan A amount.

• All lump-sum distributions will be provided in $1,000 increments.

• Your monthly retirement benefit will be actuarially reduced due to the election of a PLOP distribution.

• All PLOP distributions are considered final once the money has either been deposited in a checking or savings account or the check cashed.