Distributions

Articles

When Can I Remove Funds From My Plan?
There are a few scenarios in which you can remove the funds from your employer sponsored retirement plan.  Separation from Service (left employer) Distributions after the age of 59 1/2  Hardship Distributions Required Minimum...
Hardship Distribution
Hardship withdrawals are optional distributions intended to be used only when there is an immediate and heavy financial need that cannot be satisfied by other means. Not all plans offer hardship withdrawals. You will need to check with your plan sp...
 Requesting A Distribution
**Important Note** Some plans do not allow retirement online withdrawals. Please check with your Plan Sponsor or contact an ABG Southwest Representative available Monday - Friday 8AM-5PM MT (excluding holidays) at 1-877-516-7339 or Be...
Retirement Plan Tax Reporting
Funds within your retirement plan are pre-tax (excluding Roth Contributions) and gains are not reported to the IRS until the funds are removed from the plan. All withdrawals from your retirement plan (excluding loans*) will be reported to the IRS o...
Required Minimum Distribution (RMD)
Required Minimum Distribution  - Once a plan participant reaches the age of 70 1/2 and is no longer employed, they are legally required to take a Required Minimum Distribution (RMD).  The RMD should be taken by the end of the year ...