- Age 21 or older
- Service is not required
- Monthly entry date
- Pay is total pay, including elective deferral contributions but excluding fringe benefits.
Elective Deferral Contributions:
- 100% of pay is the maximum
- Total elective deferral contributions may not exceed $18,500 in 2018
- Early Retirement
- Termination of employment
- All or part of vested account (not earnings on elective deferral contributions) for immediate and severe financial need.
- Elective Deferral Contributions will be suspended for six months following the date of the withdrawal.
- Roll-over Withdrawal
- Age 59 1/2 Withdrawal
- Maximum amount of any loan is the lesser of:
- 50% of the Member's Vested Amount, reduced by any outstanding loan balance
- $50,000, reduced by the highest outstanding loan balance during the one-year period ending on the day before the loan is made
- Minimum amount of any loan is $1,000
- Maximum number of outstanding loans is 1
- Maximum term of any loan is 5 years
Financial Hardship Withdrawals:
If you have any questions, or would like further information, please contact Roxana Calderon, Benefits Administrator, at 817.847.6673 ext. 2127 or email firstname.lastname@example.org