Corebridge Retirement Services offers many distribution options, allowing you to tailor your benefits to meet your individual needs. Depending on your employer’s plan provisions, your withdrawal options include:
- Transferring or rolling over your vested account balance to another tax-advantaged plan that accepts rollovers
- Receiving systematic withdrawals
- Taking a lump-sum distribution
- Choosing one of the many annuity options available from Corebridge
- Deferring distributions until a later date, allowing your account to continue to grow tax-deferred (Required Minimum Distributions apply)
Generally, income taxes must be paid on all amounts you withdraw from your plan. A 10% federal tax penalty for early withdrawal may apply to distributions taken prior to attainment of age 59½.
Qualified distributions from a Roth account are tax-free. Generally, a qualified Roth distribution is a distribution that:
- is made five years or more following the date the first Roth contribution was made to the plan
- is made after attainment of age 59½, death, or disability.