Common use of Other Payment Options Clause in Contracts

Other Payment Options. Such other annuity and payment options offered by the Participant’s Investment Sponsor. The election of a payment option other than a lump sum must be made at least 30 days prior to the date distributions are scheduled to begin. Notwithstanding the foregoing, the Plan Administrator, in order to ensure the orderly administration of distributions, may establish a deadline after which an election of a payment option other than a lump sum shall not be permitted.