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Human Resources

Retirement Investors' Club (RIC) 457/401a Program

Cash Out Provision

If you are currently employed by the State, you may qualify for a cash out distribution. Cash out distributions are taxed as ordinary income. Funds will be paid if you meet ALL of the following:

• you have not made contributions to the Retirement Investors' Club (RIC) for at least two years (24 months) and
• your accumulated account value is $5,000 or less and
• you have not previously received monies from the account, other than for a hardship withdrawal

To request a cash out, please complete the RIC Distribution Form. Some inactive providers may have fees for distribution. Please consult with your investment company to determine if surrender charges apply to your account.

For tax information on distributions, see the Special Tax Notice.