i am 35 and not close to retirement age of course but does anyone know if i chose to takke it lump sum that i would be eligible to do so or not. and will i get taxed on it ?
If you take a lump sum you will lose 25% to taxes and another 20% to penalties. Roll it over into an IRA and let it grow for your retirement.
Think about that - you will lose almost 50% of the money if you take it as a lump sum.
Roll it over to an IRA for god's sake.