refers to the payment option for POWERBALL® jackpot prize payouts. The POWERBALL® jackpot prize will be paid in a single cash payment on winning tickets for players who elect to receive the cash payment option when claiming a jackpot prize. A Cash Option jackpot prize will be approximately one-half the total of the 25 yearly payments for the Annuity Option (or advertised estimated annuity jackpot prize amount).

A term that is sometimes used to describe a lump-sum distribution. Under a cash option, you would receive your benefit all at once, often in one check from your plan.

A large jackpot that the winner elects to receive as a lump sum cash payment rather than an annuity. (See "annuity.")

This is giving up part or all of a pension in return for getting a one-off payment straightaway. It is also called commutation.