Lump-sum Distribution
What is it? A single payment of all your retirement money from an account, usually given when you leave a company or when you retire. Prior to retirement, lump-sum distributions are usually rolled over into another retirement plan or into an IRA. There may be tax consequences when you take a lump-sum distribution. You should consult a financial professional to discuss the taxes that may apply to any action you take with a lump-sum distribution.Added By: Lucy
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