Employment Law Questions? Ask an Employment Lawyer.
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Nothing in employment law would force an employer to have a lump sum payment option for a retirement. So, the only way the employer would have that option is if it is contractually established. You'd have to address this with your benefits coordinator. Certainly, some retirement systems do have a lump sum option, but it can't be compelled on them. They either offer it or not.
Other than that, you'd have to look to annuity purchasers. These are entities that buy from you, at a severely reduced rate, your rights to income based on the span of your life. They'd require a full physical to gauge your health and you'd have to assign your rights, forever, to the payments.
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