Rollovers
Rolling funds out
Your account contributions and interest can be rolled out once you separate from service. Complete the withdrawal process for your plan. It is your responsibility to confirm whether your chosen institution will accept rollover funds.
- Pension Plans 1 and 2 rollover withdrawal form.
- DCP, Plan 3, JRA – can be rolled out through your online investment account.
- Employer contributions are not eligible for rollovers. These monies remain in the pension trust fund.
Rolling funds in
DCP is the only plan that allows rollovers in. The rolled in funds will retain whatever tax rules they came in with. To roll funds into your DCP, you must be enrolled in DCP and complete the rollover-in form prior to sending us a check.
More about rollovers
If you roll over your funds into a traditional IRA or eligible retirement plan, the portion of your payment that is rolled over won’t be taxed until you later take it out. If you roll over into a Roth IRA, the rules could be different. Check with the IRS to learn how this choice will impact you.
Sixty-day rollover option
If you make a cash withdrawal, you have 60 days from the date you receive payment to deposit the funds into a traditional IRA or another eligible plan that accepts rollovers. Doing so could allow you to recover the taxes that were withheld when you file your annual taxes with the IRS. Contact your tax advisor to learn more about this option.
