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You are not required to begin withdrawing assets from your account until you reach age 70½ or separate from service, whichever is later. One-time payments will be distributed within one to two business days following the receipt of a request in good order.
In order to withdraw funds from your brokerage account, you must first transfer the assets back to your core account at ICMA-RC. You can liquidate assets in your brokerage account and transfer the assets back to your core account online.
To request a withdrawal from a MissionSquare Retirement account, employees should log in to their account to see if their employer allows online withdrawals. Or, complete and submit the forms in the 457(b) Plan Benefit Withdrawal Packet. To obtain a copy, contact MissionSquare Plan Services.
Key Takeaways. If you are a government or non-profit employee, you may have a 457(b). In this case, your savings in this plan can be rolled over, like assets in a 401(k). There is no penalty for early withdrawals but you must take a minimum distribution from age 72.
Your traditional deferred comp money may be rolled over to any eligible traditional IRA, Roth IRA, governmental 457(b) plan, 403(b) plan, or qualified 401(k) plan that accepts rollovers. Consider all your options and their features and fees before moving money between accounts.
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When you left your government job, you were not allowed to roll your 457(b) assets into another retirement plan, such as an IRA. Although the rollover itself is tax-free, once your 457(b) assets become part of an IRA, they are subject to the same 10 percent early withdrawal penalties that apply to the rest of the IRA.
The 457 plan is a retirement savings plan and you generally cannot withdraw money while you are still employed. When you leave employment, you may withdraw funds; leave them in place; transfer them to a 457, 403(b) or 401(k) of a new employer; or roll them into an Individual Retirement Account (IRA).
Your funds in such a plan can only be rolled over into another non-governmental 457 plan. With a 457(f) plan, the limits are similar: You may not roll over funds from a 457(f) plan to any other type of tax-deferred fund.
Are you eligible to receive a distribution from your 401(k), 403(b) or governmental 457(b) retirement plan? You can roll over eligible rollover distributions from these plans to a Roth IRA or to a designated Roth account in the same plan (if the plan allows rollovers to designated Roth accounts).
It all began when the International City/County Management Association (ICMA) had the vision to create an organization dedicated to the retirement needs of public sector employees, and thus MissionSquare Retirement was formed.

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