Plan Sponsors
Employer Bulletin

October  2015

ICMA-RC to Offer Online Withdrawals

Later this year, ICMA-RC will offer online withdrawals to plan participants as a convenient and secure method of accessing their retirement benefits. The benefits of online withdrawals include:

  • Decreased administrative workload
    • no withdrawal forms to review and sign off on
    • no need to fax or mail withdrawal forms to ICMA-RC
    • increased processing accuracy because there are no barriers such as incomplete forms or illegible handwriting
  • Increased security
    • no Social Security numbers or other personal information on paper forms
  • Access to withdrawal options over a secure site
    • easy access to view the status of a withdrawal request
    • faster delivery option available at no additional cost

The online withdrawal option will become available to all 401 and 457 plans. We will be using a "negative election" process, and there is no action required of you. Plan sponsors will have until 4:00 p.m. Eastern time on December 18, 2015, to opt out or decline the service by contacting ICMA-RC. Otherwise, the changes will be automatically adopted by your plan.

If you have any questions about the available online withdrawal features or the adoption process, please log into EZLink and select any of the Contact Us options.

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