With just 6 years to go, your DC investment strategy is probably shifting away from pure equities to a bond mix, lowering potential returns...you'd also pay tax on your cash over cap in Option 3 and be return limited in the Option 2 MBCBP. If your lifespan is 15 years beyond retirement, you'd need at least $375k in principal + growth to provide $25k/yr for that duration....if 20 years, at least $500k.

In your shoes, based solely on what you describe, Option 1 would be my choice.

This free financial advice provided by a pilot on the internet, invest accordingly