No longer employed by a PERSI employer and wondering what to do with your PERSI Choice 401(k) Plan money? Good news. You don’t have to withdraw your money when employment ends. You can leave your money in the plan, and Empower will help you with your Required Minimum Distribution when you become eligible.
- Take advantage of the opportunity to consolidate your retirement accounts and possibly save on fees! Rollover pre-tax money from another qualified retirement savings plan or IRA into your PERSI Choice 401(k) Plan account.
- Take a partial or full withdrawal of your account.
- Receive periodic payments if your account balance is at least $5,000 and you are age 50 or older.
- Roll part or all of your account to an eligible retirement plan.
- Convert part or all of your account to purchase credited service under the PERSI Base Plan at retirement. Call PERSI for more information.
Remember, when your account balance goes to $0, it’s closed. No additional contributions can be made.
If you’re a PERSI retiree and working for a PERSI employer, your access to your Choice 401(k) Plan account will be limited until all employment ends. You can access any rollover contribution you may have made. If you’re at least age 59 1/2, you can take an in-service withdrawal, excluding any gain sharing contributions.
- Access your account by logging into it via your myPERSI account and linking to your Choice 401(k) Plan account, going directly to the Choice 401(k) Plan website, or by calling Empower at 866-437-3774.
- Choice 401(k) Plan Basics – Learn the basics of the plan.
- Investments and Fees – Find out about the investment fund options and fees.
- Loans and Withdrawals – Details on taking a loan or withdrawal.
- Managing Your Account – How to manage your account (via phone or online).
- Choice 401(k) Plan Beneficiary Form – Make beneficiary designations using this form or by logging into your Choice Plan account.
Access your account by logging into it via your myPERSI account and linking to your Choice 401(k) Plan account, going directly to the Choice 401(k) Plan website, or by calling Empower at 866-437-3774.