During each enrollment period, you must choose one of the following options for receiving your SRP benefit.
Upon your separation from service, you will be entitled to receive the vested amount of your account balance, and the remainder of your account will be forfeited.
During Annual Enrollment, you may elect to receive your payment the year following your separation from service or a future year thereafter.
Read the Summary Plan Description for more information about timing of payments.
Yes, you can. There are certain rules you need to follow. You will not be able to accelerate your payments. Read the Summary Plan Description for details.
No. Loans are not allowed. But you may be able to take a withdrawal with Plan Administrator approval due to an unforeseeable financial emergency.
Your beneficiary receives your vested account balance upon your death. Payment will be made according to your elected form and time of payment. Your beneficiary will be the most recent beneficiary you have listed in your account.