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If you need a Separation from Withdrawal Form for your SERS Defined Contribution Plan or SERS Deferred Compensation Plan, please contact Empower at (866) 737-7457. If you need assistance resolving an Agency Debt that is holding up payment of your withdrawal, please contact your HR Department.
The form you use to request a withdrawal from your account will be determined by the type of withdrawal you want to make. In most cases, you can access and submit your form in your online Defined Contribution Plan account or mobile app.
In accordance with IRS regulations, Plan participants who are age 73 or older are required to withdraw a certain amount of money, called a Required Minimum Distribution (RMD), from their 457, 401 (k) and/or Traditional IRA accounts each year. Participants age 73 or older who are still working for the City have the option of taking RMDs but are ...
18 Οκτ 2024 · If you have a governmental or non-governmental 457 (b) plan, you can withdraw some or all of your funds upon retirement even if you are not yet 59½ years old. There is no 10% penalty for early...
Most SERS members have access to the Deferred Compensation Plan — a voluntary supplemental investment plan with tax-deferred savings. “Deferred comp” makes it easy to save more money for retirement by allowing you to have some of your pay automatically deferred to an investment account.
The New York Power Authority Deferred Compensation Plan (“Plan”) is a voluntary retirement savings program that allows you to save and invest today for your retirement. The Plan is governed by Section 457(b) of the Internal Revenue Code.
With a few exceptions specified in the Retirement Code, if you are a permanent full-time, or permanent part-time state employee, or an employee of certain independent agencies, you are a mandatory SERS member. Your employer automatically enrolled you in SERS when you were hired, began withholding
