Rollover/Distribution out of the 403(b) retirement account:

Exited employees can request a rollover out of a 403(b) account into another employer-sponsored retirement account:

• Once your termination has been processed you'll receive an email from Principal with roll-over options. 

Current employees can make withdrawals from the retirement account under the following circumstances:

1) If you are still employed by our company but have reached "retirement age" which currently starts at 59 1/2

• • Withdrawals can be made payable to the employee and tax forms will be distributed to the employee by Principal at year-end to report those distributions when filing their taxes(See Withdrawal (Age 59 1/2 or Higher)
  • Rollovers into another retirement or investment account of the employee can also be made. (See Withdrawal (Age 59 1/2 or Higher)

2) If the employee is NOT of retirement age and is currently still  employed by our compnay, two types of *withdrawals are allowed (*Note: additional IRS and plan rules apply): Loans and Hardship Withdrawal