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Cash Distribution

Cash Distribution Agreement: 

  • Electronic Funds Transfer – you can request to have distributions from your account deposited directly into your bank account.  Click the “Set up banking information” button to provide your banking information.  This site is a secure site and your information is protected and confidential. 
    Click “Continue” to proceed with your request


Employer Sponsored Accounts 
  

Still employed with the employer?   
Yes - Due to an age restriction for in-service distributions, you may be unable to take a distribution. You will then be referred to the Contact Center at 1.800.448.2542.  
No – Indicate if you are separated from service due to: 
-Termination 
- Early retirement 
- Normal retirement 
- Permanent/ Total Disability 

Advise if you separated from service during or after the year you reached age 55 .  Depending on your age you may be subject to certain restrictions, taxes and penalties. You will be provided with information.  

You will be provided information in the Special Tax Notice which you are recommended to print by clicking the “click Here to Print” link. Keep a copy for your records.  You must click the box to acknowledge that you have read and understand the information in the Special Tax Notice.  

If the account is covered under the ERISA guidelines, you may be required to check if you are married, not married, legally separated or married but unable to locate your spouse.  Depending on your selection, you will need to: 

  • Request a pre-filled paper distribution form and obtain your spouse’s signature if you are married, legally separated or married but unable to locate spouse. 
  • • Supporting documents will be required for legally separated and married but unable to locate spouse.


Cash Distribution – Request  


Multiple methods for distribution 

  • Gross Distribution - Taxes will be withheld from the amount you request and you will be sent the balance. Just select the total amount of the distribution (For example, if you request $1,000 and the federal tax rate is 20%, you would receive a check for $800). You can specify how much you want from each fund, or you can select a pro-rata (proportionate) withdrawal across all funds. 

    Information regarding taxes will be provided and if applicable you can select to have additional federal tax or state tax withheld.  Note, federal and state taxes may need to be withheld from the distribution. 
  • Net Distribution - (the check amount will be the amount requested and any taxes will be taken out of the account balance -- specify amount from account(s).   
  • Tax information will be displayed.  Information regarding taxes will be provided and if applicable you can select to have additional federal or state tax withheld.
  • Select a mailing option.  The check can be mailed via United States Postal Service regular mail to the address of record or you can select overnight delivery via UPS. NOTE:  A $25.00 charge will be billed to your credit card for weekday delivery.  Only MasterCard, Visa or American Express can be used.


Cash Distribution – Review 

You will need to read the information contained in the “Client approval” section and click the box “I have read the below statements and approve the request(s)” to approve your request. If your request will require a pre-filled form, instructions to complete the form will be provided. If you want to restart the request, please click “Previous”. If you wish to save the request and submit later, please click the “Save and Submit Later” button. If you wish to submit the request, please click “Submit”. 


Cash Distribution – Confirm 
  
You will be provided a confirmation number and the page can be printed for your records; or if a pre-filled form is required, you will be provided the option to print or email the pre-filled form which you will then need to complete, sign and return. You can also upload any supporting documents or the completed form on Online Account access. If you have any questions or need assistance in printing the form, call the Contact Center at 1.800.448.2542. 

For Individual Personal Accounts   

Cash Distribution – Agreement 
Page will display and provide the tax and penalty information .  You will need to confirm that you have read and understand the information provided in the Special Tax Notice.  Click the hyperlink to print a copy.  

Cash Distribution – Request   

Multiple methods for distribution :

  • Gross Distribution - Taxes will be withheld from the amount you request and you will be sent the balance. Just select the total amount of the distribution (For example, if you request $1,000 and the federal tax rate is 20%, you would receive a check for $800). You can specify how much you want from each fund, or you can select a pro-rata (proportionate) withdrawal across all funds. 

    Information regarding taxes will be provided, and if applicable you can select to have additional federal or state tax withheld.  Note, federal tax and state taxes may be mandated to be taken from the distribution. 
  • Net Distribution - the check amount will be the amount requested and any taxes will be taken out of the balance of the account -- specify amount from account(s).   
  • Tax information will be displayed.  Information regarding taxes will be provided and if applicable you can select to have additional federal or state tax withheld. 
  • Select a mailing option.  The check can be mailed United States Postal Service regular mail to the address of record or you can select overnight delivery via UPS, NOTE:  A $25.00 charge will be billed to your credit card for weekday delivery.  Only MasterCard, Visa or American Express can be used. 



Cash Distribution – Review
You will need to read the information contained in the “Client approval” section and click the box “I have read the below statements and approve the request(s)” to approve your request. If your request will require a pre-filled form, instructions to complete the form will be provided. If you wish to save the request and submit later, please click the “Save and Submit Later” button. 


Cash Distribution – Confirm
You will be provided a confirmation number and the page can be printed for your records; or if a pre-filled form is required, you will be provided the option to print or email the pre-filled form which you will then need to complete, sign and return. You can also upload any supporting documents or the completed form on Online Account access. 

If you have any questions or need assistance in printing the form call the Contact Center at 1.800.448.2542.