Your account balance will stay in your account where you can continue to defer taxes on this money and control your investments by using the investment choices available under the Plan. You can leave all of your money in the Plan up to the Required Minimum Distribution age. Taxes will apply when your taxable account balance is eventually paid to you.

NOTE: This is what will happen if you don’t make a choice when you retire (the Plan default). IRS rules require that you begin to take money out of the Plan by April 1 of the year after you reach age 72 (70½ if you reached age 70½ before Jan. 1, 2020). The only exception to this is if you continue to work past age 72 (70½ if you reached age 70½ before Jan. 1, 2020).