Important dates for your calendar
403(b) and IRA exchanges/transfers/rollovers
Exchanges, transfers, and rollovers require significant processing time. Your completed paperwork (including approved third-party administrator transaction authorization, if applicable) will be submitted to the payer company by the end of December if we receive it by December 6, 2019. This includes requests for IRA conversions. Call us if you have any questions. We’re happy to help you through the process.
We are unable to accept IRA contribution checks written and received this tax year (2019) for next tax year (2020). Postdated checks will be returned.
Year-end withdrawal deadlines
If you would like to take a lump sum withdrawal from your 403(b) or IRA accounts before the end of 2019, your completed request (including third-party administration transaction authorization, if applicable) must be received by us on or before December 13, 2019. Requests received after this date may not be processed before year-end.
Watch your contribution limits…year-end is closing in
Employee contribution limits for 403(b) accounts are $19,000 for 2019; however, employees age 50 and older can contribute an additional $6,000 for a total of $25,000 per year. Give us a call if you need assistance. Learn more about contribution limits.
Time to review your retirement account
Have you reviewed your retirement account this year? You may want to:
- Increase your 403(b) contributions by completing a new Salary Reduction Agreement.
- Review and update your beneficiaries, especially if you’ve experienced any life events (marriage, divorce, birth of a child, death of a family member, etc.). It’s important to note that beneficiaries named on your retirement account supersede your will.
- Update your address, review your portfolio, and rebalance your investment allocation.
Visit yourMONEY online to review your account or call us at 1-800-279-4030.