Can my retirement be paid in one lump sum, rather than monthly?

This depends on the terms of the retirement plan. Many retirement plans require retirees to receive their benefits on a monthly basis, rather than in a lump sum. If the plan document does not provide for lump sum payments, there is no right to receive a lump sum payment.

Some employers have been known to make special limited time offers to allow persons retiring within a certain time window to take out all their money in a lump sum, and build in certain inducements – such as an attractive interest rate factor -- to encourage retirements. If you receive such an offer, it makes a great deal of sense to review the offer with a lawyer or financial planner to determine whether it is in your interest to accept or reject the offer.