Originally Posted by
Abouttime2fish
And I *think* you have to do something with it when you retire or it buys you an annuity. Just ‘making withdrawals’ is not an option.
The options for taking the MBCBP balance are:
1. a lump sum,
2. a rollover to a qualified retirement account (401(k) or IRA), or
3. an annuity
If you roll it into a qualified retirement account, you can decide when and how much you want to withdraw, thus allowing you to "just make withdrawals". Note: if a pilot does NOTHING, 90 days after retirement, the MBCBP will be annuitized per the plan
document (not the best option).