Distributions - Current Employees

You may access your 403b money:

• When you have terminated employment
• When you reach age 59 ½
• For an approved loan (see your plan details for availability)
• For an approved hardship

To request a transaction, see Transaction Request Process below.

To request a transaction, follow these simple steps. Download illustrated instructions here.

1. Call your provider for the provider’s forms
2. Log in to PWE’s website at https://planwithease.beready2retire.com/ (login instructions)
3. Request approval of the transaction
4. Print the approval letter
5. Submit the approval letter and provider’s form(s) to the provider.

Check your employer's plan details to determine if this option is available in your plan.

Log into planwithease:    Need login help?

1. Hover over Request Transactions and click on Loans and Withdrawals.
2. In the Withdrawals dropdown box, select either Severance from Employment or Age 59 ½.
3. Click on GET STARTED.
4. Complete the appropriate fields for withdrawal amounts.
5. Select Submit and then “I AGREE”.
6. Place cursor on Documents and select Reports/Letters.
7. Click on the arrow by Reports /Letters Group. Print the Approval Letter and send it to the provider along with the provider’s withdrawal form.

Check your employer's plan details to determine if this option is available in your plan. See provider loan requirements

Log into planwithease:  Need login help?

1. Hover over Request Transactions and click on Loans and Withdrawals.
2. In the Loans drop down box, select the type of loan you are requesting. The eligible amount is based on IRS requirements, which is the lesser of $50,000 or 50% of your account balance (minus any existing loan balance over the previous 12 months).
3. Click on GET STARTED.
4. Click on the applicable provider’s name and enter the requested amount of the loan.
5. Select Submit and then “I AGREE”.
6. Place cursor on Documents and select Reports/Letters.
7. Click on the arrow by Reports /Letters Group. Print the Approval Letter and send it to the provider along with the provider’s loan application.

Your plan may allow a hardship withdrawal option (view your employer's plan details). You must meet strict federal guidelines to be approved for the distribution. If your application is approved, the distribution is taxable as ordinary income. 

Hardship distributions are limited to employee contributions only, no earnings or employer contributions/earnings.

A distribution of 403b employee contributions can only be made if the distribution is both:

• Due to an immediate and heavy financial need.
• Limited to the amount necessary to satisfy that financial need.

Situations that might qualify for withdrawal:

• unreimbursed medical expenses
• 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

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. Some inactive providers may have fees for distribution.

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.