When and How Benefits are Paid The value of your Account will be paid to you in a single sum:    at your early or normal retirement;    if you should die (paid to your designated beneficiary); or    after you leave the employ of all Participating Employers for any other reason. You (or your beneficiary) may be subject to an automatic 20% withholding of federal income tax on the distribution. Also, if you retire or leave the employ of the Participating Employers before age 55, you may be required to pay a 10% penalty tax on any money received. More information on taxes may be found under the heading "Tax Treatment of Withdrawals." Specific information on the taxation of the distribution will also be provided before a distribution is made. When you retire. You can retire on or after you attain Normal Retirement Age, which is the first day of the month coincident with or next following your 65th birthday. If you retire after age 65, you may continue participating in the Plan and defer payment to a later date. You can also elect to retire early. You can elect early retirement any time after age 55 or, if earlier, the date you are eligible for retirement under the UFCW Local 1776 and Participating Employers Pension Plan or the UFCW and Participating Food Industry Employers Tri-State Pension Plan.