Retirement Savings Plan Summary Plan Description
6.6 Pension Enhancement
Instead of receiving a distribution directly from the Plan, you may elect a one-time transfer of a single sum amount from your account to the NCEW Pension Plan to enhance your monthly NCEW Pension Plan benefit. The rollover must be between $10,000 and $300,000, and must be elected during the 90-day period that precedes your actual pension start date. The form of benefit for the amount transferred will be the same as that which you selected under the NCEW Pension Plan, and all of the rules of the NCEW Pension Plan will apply to the transfer. This option is a commission-free alternative to purchasing an annuity from an insurance company. If you would like more information about the pension enhancement option, ask the Plan Office for the Pension Enhancement Option Frequently Asked Questions.