re: Defined Benefit Retirement Plan Termination & the distribution of assets

1. I would personally move it into an IRA, if you contact Vanguard they should be able to open the account and walk you through the rollover process.

2 & 3. If you roll out a portion of it for debt you will pay ordinary income tax on the amount you roll out plus a 10% penalty on the sum. If you need $20k for debt pay off you would need to pull $28k out (assuming a 25% tax rate) and give $8k to Uncle Sam. If you wait until 59.5 you will not be hit with the additional 10% penalty.

4. I can't make a recommendation on a specific advisor. I would however stay away from your bank. They could be great, but my experience is that bank advisors typically are more salesmen than advisors. Just my $.02.