Distribution options

You may elect to receive your savings in the form of one of the following installment methods:

Annual Installments*  If you elect this distribution method, your decision is irrevocable unless you request a total distribution of your remaining account balance.  You may elect to receive your savings in any number of annual installments from five to fifteen.  You must elect the month in which your payments begin.  This is the month that the amount of each annual installment will be paid thereafter.  The amount of each installment will equal your remaining savings balance in the Plan divided by the number of remaining installments.

Specific Dollar Amount*  You may elect to receive installments in a specific dollar amount to be paid either monthly, quarterly, or annually for one or more years until either you change your election or your savings balance is exhausted.  The dollar amount and frequency may be changed at any time.

Life Expectancy Installments*  If you elect this distribution method, your decision is irrevocable unless you request a total distribution of your remaining account balance.  You may elect to receive your savings in monthly, quarterly, or annual installments, the number of which will be based on your life expectancy.  The amount of the installments shall be equal to your savings balance as of the beginning of the installment distribution divided by the number of installments.  Each January 1, your savings balance will be divided by the number of remaining installments to calculate the amount of your installment payments for that year.  Your installments will continue until either your account balance is exhausted or you elect a full distribution of the remaining balance.

*If any changes are made to your installment election within five years or 
  before you attain age 59 & 1/2, an early withdrawal penalty may apply.

If you request installments:  you should complete an Installment Election Request form indicating your election to receive your payment in installments.  If you do not complete a distribution request, receipt of your account will be deferred until you reach age 70 & 1/2, at which time required minimum distributions automatically will begin.  Normal processing time for receipt of your account balance may take up to four weeks to be sure that all contributions have been credited to your account and the self-managed brokerage account, if applicable, has been closed.

More information can be found in the FirstEnergy Corp. Savings Plan Summary Plan Description (pdf).