You may be retired, considering retirement or just curious about your access to your MNDCP assets. How and when might your account balance be paid out? What options are available to you? The answers to these questions and more can be found here.
Once you are eligible to take a withdrawal from your MNDCP account, you have several options to access your money in a way that best fits your retirement income needs.
"Stay Put" If you are not ready or don't need to take withdrawals from your MNDCP account, you can stay in the Plan and postpone account withdrawals.
You will continue to enjoy competitive fees that result from MNDCP's economies of scale. And better still, you may be able to bring other retirement assets into your Plan by consolidating your assets.
Lump Sum Withdrawal Withdraw the entire value of your MNDCP account and your account is closed.
Partial Withdrawals Withdraw a portion of your account balance whenever you wish.
Periodic Payments Establish a series of scheduled withdrawals (monthly, quarterly, semi-annually, or annually).
Rollover Move all or a portion of your MNDCP account to another retirement plan or IRA; however, if you're happy with the service and features you get with your MNDCP account, there's no need to roll over your account balance to another retirement account or IRA.
Combination Select a combination of withdrawal options (partial, periodic payments, rollover) that best meets your specific retirement income needs.
For more information about payout options, see pages 9-10 of the Retirement Guide.Carefully consider all your options before making any investment related decisions.