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Current Employees

Possible options for in-service distributions are listed below. Your employer's plan may not allow all of them (view your employer's plan details here).


pwe logo If you have determined that you are eligible for a distribution, follow planwithease instructions to make your request.

 

 

 

 

For tax information on distributions, see the Special Tax Notice PDF.

 

Hardship withdrawal

Your plan may allow a hardship withdrawal option (view your employer's plan details) that may allow you to take a distribution from your 403b account due to an "unforeseen" emergency. You must meet strict federal guidelines to be approved for the the distribution. Some inactive providers may have fees for distribution.

Situations that might qualify for withdrawal:

  • unreimbursed medical expenses & related lost wages
  • funeral expenses (legal dependent)
  • purchase of main residence
  • education costs for you or a dependent
  • uninsured damage to primary residence
  • foreclosure of or eviction from residence

If your application is approved, the distribution is taxable as ordinary income. You will be required to stop contributions to the Retirement Investors' Club (RIC) for at least six months after an approved distribution.

You are not eligible to receive a payout from your RIC 403b account for any of the following:

  • warding off bankruptcy
  • divorce
  • overdue bills

To apply for a hardship withdrawal, complete your provider's Financial Hardship Form and print an approval letter from planwithease PDF.

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Age 59 1/2

You may begin to take distributions from your account(s) at age 59 1/2 even if you are still employed. You may elect to receive the entire value of your account or you may receive partial lump sums, periodic payments in a variety of ways including lifetime payments, or rollover to another eligible plan.

Active provider accounts do not need planwithease or RIC approval for withdrawals at age 59 1/2. Contact the RIC active provider directly to request a withdrawal.

Inactive provider accounts require that you print an approval letter from planwithease PDF and send it with the provider's distribution form to the provider.

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Education-Related Employees

 


Distribution Summary