Lump-sum retirement payment


Q: I am 59 and retired from the post office since July 2009. I receive payments of $900 a month and would like to get a lump sum. Would I have to pay a penalty?

A: If you’re receiving level monthly payments, not based on your life expectancy, and not incurring the penalty on those, then your lump sum will not incur the penalty, either.


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to and view his blog at

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