Botching this decision could cost you your retirement savings
Sean Murphy | Stone | Getty ImagesIf you're taking a hefty check from your 401(k) plan as you leave your employer, you might be making a big mistake.Just over 9 out of 10 employers give their employees multiple options to take a distribution from their retirement plan, according to a new survey from Alight Solutions.The employee benefits provider polled 240 employers in March."As we see more and more boomers retiring – these people who really developed their nest egg in the 401(k) — we see more installment payments and partial distributions offered," said Rob Austin, head of research at Alight Solutions.In addition to giving workers a lump sum, close to 80% of employers also allowed a partial distribution and 3 out of 4 companies permitted departing workers to take installment payments fro