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Distributions

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Hardship Distributions
What is a hardship withdrawal? Hardship withdrawals are optional distributions intended to be used only when there is an immediate and heavy financial need that cannot be satisfied by other means.  Not all plans offer hardship withdrawals. ...
 Requesting a Distribution
Requesting a distribution from your online account is done through your online account. Click HERE for the withdrawals page in your online account. You may also review the guide below to learn how to request a distribution from your retirement acc...
When Can I Withdraw Money From My Plan?
There are a few scenarios in which you can remove the funds from your employer sponsored retirement plan.  Separation from Service Distributions after the age of 59 1/2 Hardship Distributions Birth or Adoption Required Minimum Distributio...
Retirement Plan Tax Reporting
Funds within your retirement plan are pre-tax (excluding Roth contributions ) and gains are not reported to the IRS until the funds are removed from the plan. All withdrawals from your retirement plan (excluding loans*) will be reported to the IRS ...
Non-Discrimination Testing & Corrective Distributions
The IRS requires that retirement plans perform annual non-discrimination tests to ensure that the benefits from a company’s 401(k) plan are widely shared. This is done to make sure that the retirement plan doesn’t disproportionately favo...
Required Minimum Distribution (RMD)
What are Required Minimum Distributions (RMDs)? Required minimum distributions, or RMDs, are congressionally mandated withdrawals from a qualified retirement plan. RMD rules dictate the minimum amount you must withdraw from your account every yea...
Tax Withholding on Cash Distributions
Distributions from qualified retirement plans are taxed as gross income for the year in which they are withdrawn from the plan. There are specific rules regarding tax withholding at the time of distribution. Normal Distributions: Mandatory 20...
Calculate Your Distribution Amount
Use our distribution calculators to estimate your distribution prior to submitting your request.  How much will you receive?   When taking a cash distribution, taxes and fees may effect the amount of your withdrawal, click Here &...
Automatic Rollover IRA
What is an automatic rollover IRA? An automatic rollover is a distribution of an account for terminated employees who have a balance of $5,000 or less. Please note that the employer can set the threshold to less than $5,000 in their plan document...
Status of Your Distribution Request
Once your distribution request is submitted, it will route through a few review and processing steps. For transparency, we provide line of sight into their activities for you, directly on the Dashboard page of your online account.  All distrib...
Repayment of Coronavirus Related Distribution
If you requested a distribution through the CARES Act Provision that permitted withdrawals due to hardship related to Coronavirus, you may repay all or part of the amount of a coronavirus-related distribution. Repayments must be made within three...