Distributions

Your C&MA 403(b) is a long-term investment, designed for you to withdraw funds when you retire.  Participants are able to withdraw early in certain situations, however, the penalties and long-range impact make this a significant decision.

• If you would like advice about your decision, you may call Strategic Financial Partners at 866-963-1843
• If you are a minister, consider the housing allowance advantage as you make decisions about roll-out or distribution
• The 403(b) Distribution form includes an extensive Participant Distribution Guide which explains rules, taxes and early withdrawal penalties

You may withdraw funds from your 403(b) at the following times:

• Age 59 ½ or older
• Severance of Employment
• Disability
• Death of the Employee
• Financial Hardship

All withdrawals from a traditional 403(b) are taxable.

• A traditional 403(b) is tax-deferred. Since your contributions are deducted from your salary before taxes, you pay the taxes at the time of withdrawal
• Some participants closer to retirement may find this to be the best option. If you are not close to retirement, you may wish to consider the C&MA Roth 403(b)

Please contact Alliance Benefits to learn more.