Retirement plan withdrawals

Participants separating from employment:  We recommend that you request a withdrawal from your retirement plan(s) after contributions withheld from your final paycheck have been posted to your account.

Arizona State Retirement System

This mandatory retirement plan does not allow in-service withdrawals while employed at an AZ state university or employer that offers ASRS to its active employees.    

See ASRS for information regarding distributions upon death, termination or retirement.

Optional Retirement Plan

This mandatory retirement plan does not allow in-service withdrawals while employed at an Arizona University System institution—ABOR, ASU, NAU or UA, unless there is a fully executed ORP phased retirement program agreement. For additional information visit Phased Retirement FAQs.  

See the ORP guide for information regarding distributions upon termination or retirement or participation in the Phased Retirement Program. Beneficiaries must contact the investment provider or a tax advisor for more information regarding inherited defined contribution plans. Plan administrator approval is required for distributions.

Please allow 5 to 7 business days for approval after submitting your request to one of the four options listed below:

Fax:  480-993-0008

Campus mail code 1304

U.S. mail 
ASU, Attn: HR Retirement
PO Box 871304
Tempe AZ 85287-1304

Hand Delivery or Overnight Mail
ASU, Attn: HR Retirement
Tempe University Center, UCNTRA
1100 E. University Dr., Building A
Tempe, AZ 85281

Public Safety Personnel Retirement System

This mandatory retirement plan does not allow in-service withdrawals while employed at an Arizona university or employer that offers PSPRS to its active, eligible employees.

See PSPRS for information regarding distributions upon death, termination or retirement.

Voluntary 403(b) plan

For an in-service withdrawal, please contact your investment provider and allow 7–10 business days for processing.

You can withdraw money for the following reasons:

• Are at least 59 ½ years old.
• Are or become totally disabled.
• Initiate a loan from your account while actively employed.
• Need funds for a qualified hardship withdrawal such as a funeral, education or medical expenses; buying a primary residence; preventing eviction or foreclosure on your primary residence while actively employed.
• Want to initiate a permissive service credit transfer.

Important: Loans and hardship withdrawals are available only from 403(b) accounts held with Fidelity or TIAA and only by actively employed participants. Participants separated from employment cannot initiate a loan or request a hardship withdrawal. Active participants may have one loan for general purposes and one loan to purchase a primary residence outstanding at a time.

• Distributions upon death, termination or retirement from all Arizona University System institutions—ABOR, ASU, NAU, and the UA—are available:
• Beneficiaries: Contact the investment provider or a tax advisor for more information regarding inherited defined contributions plans.
• Transfer your account balance to another tax-advantaged plan that accepts rollovers.
• Receive systematic or partial withdrawals.
• Take a lump-sum distribution.
• Defer distributions until a later date (but no later than the attainment of age 70½) allowing your account to continue to grow tax-deferred.

457(b) Deferred compensation plan

This voluntary retirement plan allows some in-service withdrawals. Distributions are available upon death, termination or retirement from all Arizona state universities and employers. Please contact the investment provider for details.

Nationwide Retirement Solutions
Walk-in Service,  8 a.m. to 5 p.m., Monday to Friday
4747 N. 7th St., Suite 418
Phoenix, AZ 85014
Toll-free 800-796-9753
arizonadc.com