When you retire, you have a few ways to withdraw your money with MO Deferred Comp: take it all as a lump sum, take partial withdrawals as needed, or set up installment payments. We’re often asked, what exactly is an installment payment? It's a way to withdraw your savings through a series of scheduled payments over time, rather than all at once. You choose the amount and frequency: monthly, quarterly, semiannually, or annually. This can give you a steady stream of income, like a paycheck, while the rest of your money stays invested and has the potential to grow. Installment payments will continue until your money runs out or you can stop or change your payments anytime. If you need extra income, you can still take additional withdrawals without interrupting your regular schedule. Setting up pre-tax installment payments is easy through your online account. For Roth installment payments, you must complete and submit a paper form, which is available in your online account. If you have any questions or need assistance setting up an installment payment, please reach out to your local financial education professional.
