For employees who wish to complete an inservice exchanges or to take a loan or hardship withdrawal on their eligible 403B investment, the District has a new web-based program called Retirement Manager to make the process easier. The program is free and is managed by VRSCO, a third party administrative arm of VALIC.

Retirement Manager verifies whether or not a loan, hardship withdrawal or in-service exchange request is valid. If it is, employees print certificates from Retirement Manager and attach them to their application form from the vendor. A separate signature from the Plan Administrator is no longer necessary since the certificates provide the verification of eligibility.

The program works for all 403B plans invested with AXA-Equitable, American Fidelity, First Investors, Horace Mann, Security Benefit, VALIC and Waddell & Reed. Currently, Waddell & Reed can only process hardship withdrawals under this option. All other companies process loans and hardship withdrawals.

Horace Mann is no longer eligible for new clients; only existing clients can access this service.

INSTRUCTIONS:
Go to https://www.myretirementmanager.com/?PUSD and click on "I'm a New User" and create an account to request a loan or hardship withdrawal. The minimum amount that can be requested is $1,000 and the maximum amount is 50% of the account balance of all eligible 403B plan accounts. Contact Human Resources at 549-7132 or your financial advisor for assistance.

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