It was a standard, company pension and I was eligible to start receiving monthly benefits because I was over 55 1/2. I left this employer in 2000 and received the lump sum in 2017.
You do not qualify for the age-55 exception because you separated from service before the year that you reached age 55.
You do not qualify for the exception for a series of substantially equal periodic payments because you received a lump-sum buy-out of your pension, not a series of payments for life.
Other penalty exceptions for distributions from a qualified retirement plan are listed on the following IRS web page, but are less common than the ones listed above that you already do not qualify for:
You do not qualify for the age-55 exception because you separated from service before the year that you reached age 55.
You do not qualify for the exception for a series of substantially equal periodic payments because you received a lump-sum buy-out of your pension, not a series of payments for life.
Other penalty exceptions for distributions from a qualified retirement plan are listed on the following IRS web page, but are less common than the ones listed above that you already do not qualify for: