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  1. 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.

  2. 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.

  3. 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...

  4. 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.

  5. 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.

  6. Small Account Withdrawal You may receive a full distribution from the 457 Plan prior to severance from City service if all the following criteria are met: (1) the total account balance does not exceed $7,000; (2) you have not deferred any compensation to your 457 account during the two-year period ending on the date of distribution;

  7. 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

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