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Municipal Employees Retirement System of Michigan 800.767.MERS (6377) www.mersofmich.comDefined Contribution Voluntary In-service Distribution Form Use this form if You are still with your employer

How to fill out defined contribution voluntary in-service

How to fill out defined contribution voluntary in-service

1. To fill out a defined contribution voluntary in-service, follow these steps:
2. Obtain the necessary forms for the defined contribution voluntary in-service from your employer or retirement plan administrator.
3. Fill in your personal information, such as your name, address, and social security number, on the forms.
4. Provide information about your current employment status and contribution preferences.
5. Specify the amount or percentage of your salary you wish to contribute to the voluntary in-service plan.
6. Choose the investment options available for your contributions.
7. Review and sign the forms, acknowledging that you understand the terms and conditions of the voluntary in-service plan.
8. Submit the completed forms to your employer or retirement plan administrator.
9. Keep a copy of the filled-out forms for your records.

Who needs defined contribution voluntary in-service?

1. Defined contribution voluntary in-service is suitable for individuals who:
2. - Want to supplement their retirement savings in addition to their employer-sponsored retirement plan.
3. - Have specific investment preferences and want the flexibility to choose their own investment options.
4. - Are currently employed and meet the eligibility requirements set by their employer or retirement plan.
5. - Wish to take advantage of any employer matching contributions, if available.
6. - Have a need or desire to save additional funds for retirement beyond their regular contributions to the employer-sponsored plan.
7. Keep in mind that eligibility and availability of defined contribution voluntary in-service may vary depending on your employer and retirement plan.

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What is defined contribution voluntary in-service?

Defined contribution voluntary in-service refers to a provision that allows participants in a defined contribution retirement plan to withdraw funds or take distributions while still employed, under certain conditions.

Who is required to file defined contribution voluntary in-service?

Employers who sponsor a defined contribution retirement plan and have participants who wish to take in-service withdrawals are required to file defined contribution voluntary in-service applications.

How to fill out defined contribution voluntary in-service?

To fill out the defined contribution voluntary in-service form, participants must provide personal information, specify the amount they wish to withdraw, indicate the reason for the withdrawal, and obtain any required approvals from their employer or plan administrator.

What is the purpose of defined contribution voluntary in-service?

The purpose of defined contribution voluntary in-service is to provide employees with access to a portion of their retirement savings while still actively working, allowing for flexibility and financial assistance when needed.

What information must be reported on defined contribution voluntary in-service?

The information that must be reported includes participant details, withdrawal amount, the reason for the withdrawal, plan information, and any required signatures or approvals.