What are my distribution options from CRSP?
Upon termination or retirement, you may request a distribution from the CRSP as follows: • a lump-sum cash distribution; • rollover your money into an IRA; • rollover your money into the Concordia Retirement Plan (CRP) if you are age 55 or older and convert your CRSP account balance into a monthly annuity (if you are under age 55, you can leave your money in your CRSP account until you reach age 55, at which time you can rollover your CRSP account balance into the CRP and convert it to a monthly annuity); • a systematic monthly, quarterly, or annual periodic payment from your CRSP account, whichever of these may be offered by MetLife, the administrator; or • leave your money in your CRSP account; however, you will need to start receiving payout by age 70 1/2.
