Withdrawals and Distributions - UU Retirement Plan
Participants may withdraw funds upon attainment of:
- age 59½ or
- termination of employment or
- permanent disability or
Participants Initiate Requests
In order to initiate a cash withdrawal, the plan participant logs in to their account profile via www.tiaa.org/uua and navigates via quick links to start a loan/withdrawal.
No computer access? Call TIAA using the dedicated phone line (800) 842-2829. TIAA will help the participant to initiate the proper paperwork, and will respond to the participant's key questions. See below for paperless transactions permitted for IRS-required and recurring minimum distributions.
Plan Signature Required
Once a participant has completed the request, if doing so online, TIAA's system rules will ensure that the request is conveyed to UUA Retirement Plan staff for review and authorization. UUA staff help to verify dates of service with the local employers to support request authorizations. They also apply an attestation when applicable, related to the unique retired clergy-tax-treatment available under IRS rules.
If submitting a paper form to TIAA, participants are advised to keep a copy for their own records. When TIAA receives the paperwork, their system rules ensure that UUA staff receive requests for review and authorization.
Required Minimum Distribution
Federal law mandates that participants must begin to receive the IRS-required Minimum Distribution (RMD) no later than the April 1 following the calendar year after becoming 70 ½ or terminating employment, whichever is later. Participants requesting RMD timely, call TIAA: (800) 842-2829 and provide SSN or account number to initiate an RMD or Recurring RMD paperlessly.
For information about distributions upon retirement, please also review Upon Retirement.