What is a systematic withdrawal option (SWO)? How and when are benefits paid under SWO?
A Systematic Withdrawal Option, or SWO, is one of the forms of periodic payment options available for the distribution of your benefits under the Plan. Under SWO, you elect whether to receive your benefits in a specified amount or over a stated period of time, subject to certain requirements. Once your election is made, ING will pay your installment payments automatically in the method you select. You may choose to receive benefits monthly, quarterly, semi-annually or annually. While you are receiving your SWO payments, you are still able to direct the investment of amounts remaining in your Plan account. You may change the amount and timing of your SWO payments, as long as the minimum requirements are met and you continue to receive the minimum required distributions under the Plan.
