u/Dazzling_Advance_458

I recently retired and need to decide how to take out the non-liquid portion of my 403B.

I have $3.1m in my 403B, ~$128k is in non-liquid portion i.e. annuity portion.

My options are:

1. $15,588/year for 10 annual payments (to pay out the $128K balance).

or

2. Lifetime annuity $891/month ($10,692/year), which is a 8.3% payout, joint life ( my age 64, spouse 60) 15-year guarantee payment. (10 year is $892 and 0 year is $893, so not much difference).

We have more than enough income from our 401k/403b and my spouse's pension.

What is a good choice?