UC is changing 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.
Effective August 3, 2020, you can 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.