Installments paid over life expectancy

[BG5150]

I have a 401(k) plan that has as a distribution option installment payments figured over the life expectancy of the participant.

Say a person selects this method. But three years later, she wants/needs the money. Can she cease those payments and take a lump-sum distribution for the remaining amount?

[david rigby]

In most plans, this will already be determined by plan provisions.

[J Simmons]

If this former EE quit before reaching age 55, began taking the installments over his life expectancy, no more than 5 years has passed or is under age 59 1/2, then by taking the lump sum he might face the 10% early distribution penalty on amounts already taken.

[Mike Preston]

As David said, yes, assuming the plan document allows.