We have a large contingent of union tradesman in our client base and all have annuity options as part of their retirement programs. The options vary from union to union and generally speaking they can be confusing. One of the biggest concerns that we have for our clients is that they do not make a mistake and take a large distribution unintentionally which will come with a huge tax hit. 
Some plans force the participants out within a few months while others will let the funds remain for a time. These forced situations are we see some of the distribution mistakes occur. In many cases the member is still young enough that they intend to work at least part-time in some other capacity and do not need the funds from the annuity fund for a number of years.
We also find that most of the members want control of their own money which often results in a rollover to an IRA.
So, before you complete the final retirement paperwork we urge you to consult with a professional versed in taxes and investments to help make sure you are making the choices that are best for you.
If you do not have someone to assist you we would be glad to help.