Church Pension Group | Distribution Options

Distribution Options

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How will you manage your savings withdrawals to make sure that you'll have funds when you need them and not outlive your savings?

The Episcopal Church Retirement Savings Plans (RSVP) and Lay DC Plan offer 5 options to access your money, so that  you can choose the option that is right for you.  

Lifetime Income
Selecting to receive a Lifetime Income for as long as you live provides you with income throughout your lifetime.  This option may be for you if:

  • You want a guarantee1 that you will never outlive your savings.  Your savings can be protected against inflation.

Income for a Set Time or Amount
Receiving Income for a Set Time or Amount allows you to choose the amounts of your monthly payments, or for how long you want to receive them.  This option may be for you if:

  • You anticipate long-term fixed costs, like a mortgage
  • Your expenses will be higher over a set period, such as paying college tuition for the first few years after you retire.

Systematic Withdrawal
Setting up a Systematic Withdrawal allows you to continue to grow your savings while receiving funds from your savings.  This option may be for you if:

  • You want to continue to grow your assets in the stock or bond market, but want access to your savings.

Lump Sum Payment
Taking a Lump Sum Payment allows you to access all your money at once.  This option may be for you if:

  • You'll need to pay off a large expense
  • You need to make a down payment

Combination of the Options
Choosing a Combination of the Options allows you to match your income to your anticipated needs.  It's a possible option for you if:

  • You need more flexibility
  • You want a lump sum or higher payments for a period of time, with an adjusted payment when your income requirements change.

All of these options have different impacts on your savings and taxes, as well as on funds that may be available for a surviving spouse.  And, we offer different investment options to help you manage your savings during retirement.

Find out more about your options and which plan may work best for you. Call a CPG financial education specialist to discuss the options and your retirement.

1Guarantees are subject to the claims-paying ability of the issuing company.