Retirement Planning:
Defined Contribution Plan

You can begin receiving your benefit as soon as you retire. The amount you receive depends on the value of your account balance. Your options include:

• Maintaining your savings in the plan until you decide to withdraw some or all of your funds
• Receiving a lump sum payment
• Receiving monthly,  quarterly, semi-annual, or annual installments
• Rolling over your account balance into another retirement plan, IRA, or Roth IRA

There are restrictions on withdrawals prior to retirement. If you believe that you have been denied a benefit that you are due under the Lay Defined Contribution Plan, you have the option to file an appeal.  For more information see the Employee Guide.