When a CEO retires, how does he collect his "retirement"?

[ColbertWatcher]

With the outrage directed to Fannie Mae's Herb Allison, Freddie Mac's David M. Moffett, Lehman Brother's Richard S. Fuld, Jr. and AIG's Robert B. Willumstad (among many others), and an on-going distaste for obscenely overpaid CEOs in general, I'd like to ask how CEOs get their retirement paid in general.

I know part of it may be "salary" and some of it may be in stock, which could then be "cashed out".

But what I don't know is if it is paid over time? Does he get it in one lump sum?

Anyone know?

[Tangerine LaBamba]

1. The way it's paid out is dependent

on the impending tax liabilities. Very often, an annuity in the amount of the compensation package might be purchased. Or, the retiree might take it in stock - if there are any sound stocks left - with options. And some cash. Or a combination thereof.

If I were a CEO taking a golden parachute right about now, I'd want it all in gold bricks.

[leftofthedial]

2. bag man

deserted parking garage

[Betsy Ross]

3. Wire transfer off shore. eom