Page History

...

• Anyone exiting employment with Reliant with $5,000 or more invested in Reliant's Retirement 401(k) Plan with Principal has the option to leave their current 401(k) funds in Reliant's 401(k) plan.  The funds will remain invested in the Reliant 401(k) Plan until the former employee requests withdrawals at retirement age or at age 59 1/2 or older.
• Leaving funds in Reliant's Retirement 401(k) Plan with Principal requires no action by the former employee.  This is the default choice for 401(k) participants exiting employment with Reliant ,who have more than $5,000 invested in the 401(k) Plan.
• IMPORTANT - Do NOT convert your 401(k) funds to a personal IRA with Principal or with another investment company if you want to pursue the parsonage withdrawal option.  Taking the funds out of Reliant's 401(k) Plan and into an personal IRA will forever forfeit your ability to withdraw funds as parsonage at a later date.
• Former Reliant employees who are later employed in another field of work (non-ministerial) do not have to retire while employed in a ministry role to be eligible to receive parsonage withdrawals later in life.  As long as the former Reliant employee was a Commissioned/Ordained minister while making contributions to the Reliant 401(k) Plan, the former employee will be eligible for parsonage withdrawals from Reliant's 401(k) Plan.

Please contact Barb Seckler, Director of Finance teams, at 407-270-1318 or payroll@reliant.org if you are interested in pursuing this type of withdrawal. Do NOT try to submit an online withdrawal request for this type of withdrawal.  This request requires a few special steps that Reliant will advise you on to ensure it's processed properly.  

...