Home < Retirement and Savings Plans < University of California Retirement Plan (UCRP) < Lump Sum Cashout
If you choose the lump sum cashout option, you receive a one-time payment of your projected lifetime basic retirement income.
In the cashout calculation, your basic retirement income is reduced by any offsets that apply and then multiplied by a lump sum cashout factor. This factor is based on your age and is derived from average life expectancy tables, projected cost-of-living increases, and the actuarial assumptions of the Plan.
The taxable portion of your lump sum cashout is eligible for direct rollover to a traditional IRA, a Roth IRA or to another employer plan that accepts rollovers, including UC's Retirement Savings Program Plans.
If you choose a lump sum cashout you forfeit all other retirement, survivor, and death benefits, as well as retiree insurance coverage.
To request a lump sum cashout, contact your local Benefits Office about three months before you wish to leave UC employment.
