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What is the Partial Lump Sum?

April 26, 2017lump partial

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What is the Partial Lump Sum?

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Partial Lump Sum allows you to receive a portion of your retirement benefit as a one-time payment in exchange for a permanently reduced monthly retirement allowance. The Partial Lump Sum payment you receive will reduce your account balance dollar for dollar, and, therefore, the refundable cash value of your account will also be reduced. Reducing your account balance will not affect the length of time your monthly benefit is payable.