If you receive a lump sum payment from the Plan (including a Partial Lump Sum), you may roll over all or part of it to a traditional or Roth individual retirement account (IRA), or another eligible plan that
accepts these contributions. In addition, a non-spousal Beneficiary may elect a direct rollover into an inherited IRA.
If you do not choose to roll over this lump sum payment, federal law requires the Fund to withhold 20% of the total amount for federal tax purposes. There may be an additional 10% penalty if you are under age 59½ at the time of your lump sum distribution.
Federal law requires the Fund Office to provide you with a timely Special Tax Notice Regarding Plan Payments describing your rights and obligations regarding rollovers and withholding requirements. For more information, or a copy of this notice, please contact the Fund Office.