403(b) and IRA 2009 Year End DEADLINES Approach

Last updated: 12/30/2009 10:50:33 AM

The deadlines for 2009 withdrawals, transfers, and RMD requests are fast approaching. Plan ahead!

2009 TSA and/or IRA Year-End Withdrawals
If you would like to take a lump sum withdrawal from your WEA TSA Trust or WEAC IRA accounts before the end of 2009, your original written request form must be received (not postmarked) by us on or before December 11, 2009 for processing the following week. We cannot accept requests via fax. Forms received after December 11 will be processed the second week in January 2010.

403(b) and IRA exchanges/transfers/rollovers
Exchange/Transfer/Rollovers require a two-week processing time. Paperwork received in good working order by December 4th will process by the end of December. This includes requests for IRA recharacterizations and conversions. Paperwork received after that time will process in January 2010.

2009 RMD - not Automatic this year!
Required Minimum Distributions (RMD) for 403(b) and Traditional IRA’s were suspended for 2009. Participants with these accounts will NOT automatically receive their RMD in December unless you have sent in a form requesting the 2009 payment. If you want to take your RMD from your WEA TSA Trust or WEAC IRA account, call us by December 1 to gete the form required for the payment. Your original written request form (no copies or faxes) must be received by us on or before December 11 to process before year-end.

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