Changes

*Withdraw the balance, or part of it, either via rollover or cash out, or via monthly payments by purchasing an annuity or a specified amount (based on either an amount stipulated by the employee or using IRS life expectancy tables), but the amount can only be changed annually and the payments cannot be discontinued<ref>Current legislation has this changing to monthly, quarterly, or annual payments, and allowing the amount to be changed as frequently as desired including discontinuing them, but implementing regulations have not been established.</ref>

*Withdraw the balance, or part of it, either via rollover or cash out, or via monthly payments by purchasing an annuity or a specified amount (based on either an amount stipulated by the employee or using IRS life expectancy tables), but the amount can only be changed annually and the payments cannot be discontinued<ref>Current legislation has this changing to monthly, quarterly, or annual payments, and allowing the amount to be changed as frequently as desired including discontinuing them, but implementing regulations have not been established.</ref>

If a participant dies, then any unpaid balance is paid to the beneficiary(ies) designated.  If the participant did not designate any beneficiary(ies), then the "statutory order of precedence"<ref>The order of precedence is also used for payment of insurance benefits under the [[FEGLI]], unused portions of a [[Federal Employees Retirement System]] (FERS) annuity, and unpaid compensation.</ref> is used, as follows:

If a participant dies, then any unpaid balance is paid to the beneficiary(ies) designated.<ref>However, if the beneficiary(ies) caused the death of the account holder, they are not paid, but are treated as having predeceased the account holder.</ref> If the participant did not designate any beneficiary(ies), then the "statutory order of precedence"<ref>The order of precedence is also used for payment of insurance benefits under the [[FEGLI]], unused portions of a [[Federal Employees Retirement System]] (FERS) annuity, and unpaid compensation.</ref> is used, as follows:

*To the widow or widower,

*To the widow or widower,

*To any surviving children (in equal shares) or their descendants,

*To any surviving children (in equal shares) or their descendants,