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).
For tax information on distributions, see the Special Tax Notice PDF.
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:
If your application is approved, the distribution is taxable as ordinary income.
You are not eligible to receive a payout from your RIC 403b account for any of the following:
To apply for a hardship withdrawal, complete your provider's Financial Hardship Form and print an approval letter from planwithease PDF.
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. With some of the RIC active providers, 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.