Human Resources

Upon termination, participants may choose from the following:

• Leave the funds on deposit in the Supplemental Retirement Plan to continue to take advantage of tax free earnings growth,
• Roll the account balance into another employer's 403(b) plan, if permissible by the new Plan,
• Roll the account balance into a self-directed IRA,
• Take a distribution, however a 10% penalty and taxes will be due upon those funds paid directly to a participant.

Participants who terminate and choose to leave funds on deposit with the vendor must maintain a current apress with the vendor and keep their Beneficiary information up to date. Participants who choose to take a distribution and move the funds elsewhere should contact their vendor as surrender and early distribution fees may apply.