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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.
Request a Withdrawal. 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.
Close. Pre-Tax 457: Upon severance from City employment, or upon reaching age 59½, 457 Plan participants can receive direct payments, without penalty, regardless of age.Funds can be rolled over into other eligible retirement plans (NYCE IRA, 457, 401(k), 403(b), or a retail IRA), but, once rolled over, funds may become subject to a 10% early withdrawal penalty.
Deferred comp accounts have certain tax advantages as outlined in Section 457(b) of the IRS tax code. The SERS board has contracted with Empower Retirement as the third-party administrator of this investment plan. Defer Your Leave Payout. According to the IRS, leave payouts are eligible for deferral into deferred comp accounts.
18 Οκτ 2024 · How Withdrawals Work. 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...
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.
to Release Account Information form or Authorization to Release Death Beneficiary Information form on SERS’ website at www.SERS.pa.gov, or request the forms by calling 1.800.633.5461. Beneficiary Information
