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Payment of Benefits

The ORP provides many different benefit payment options, allowing participants flexibility in crafting retirement benefits to meet their personal financial needs. In addition, certain life events also affect benefits.

The tax implications of drawing benefits and Social Security offsets should be considered and discussed with a qualified professional.

Participants who are ready to take a distribution from the ORP, should contact the Provider to review the available payment methods. Send the completed paperwork provided by the Provider, including tax withholding and direct deposit forms, to the Plan Administrator, for review and approval. Once approved, the Plan Administrator will sign the application and send it directly to the Provider.