UC has changed the age at which you can request a withdrawal from the 457(b) and DC Plans while you are still a UC employee. These are called “in-service withdrawals.”
WHAT YOU NEED TO KNOW
The change is designed to make withdrawal provisions more consistent across the 403(b), 457(b), and DC Plans.
You can now request in-service withdrawals as follows:
- 403(b) Plan. You may request an in-service withdrawal if you are either age 59.5 or have a financial hardship.
- 457(b) Plan. You may request an in-service withdrawal if you are either age 59.5 or have an unforeseeable emergency.
- DC Plan. You may request an in-service withdrawal of your vested pre-tax contributions if you are age 59.5. You may withdraw money from your After-tax Account at any time.
For more details, call a UC-dedicated Retirement Planner at 1-800-558-9182.