This excerpt taken from the T 10-K filed Feb 25, 2009.
Default Distribution: If a payment election is not on file as of the last day of the year prior to your retirement or termination, the form of benefit shall be the Life with10-Year Certain Benefit.
You must defer the receipt of at least seventy percent (70%) of your lump sum (excluding accrued interest thereon) until at least the third anniversary of your retirement (the "70% Rule"). Please indicate below the portion of your lump sum that you wish to defer:
I wish to defer _______% (not less than 70%). Any portion not deferred will be paid within 60 days following my Termination of Employment. Complete Section 3.
Note: You have a one-time right to accelerate the distribution of your deferred balance by making an election prior to the first day of the calendar year in which you desire to receive an accelerated distribution of your deferred balance.
Please indicate how you would like your deferred balance distributed.
______________(month/year) through ______________(month/year).
Note: Also complete Section 3b to elect payment of deferred balance.
(insert number from 1 through 20) year(s) commencing ___________(insert year). Please choose one distribution method as follows:
Note: You may not request more than 30% of your lump sum within 36 months following retirement.
Complete Section 4.
I hereby authorize and make the above elections.