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This form is designed to collect the information required by South Carolina in accordance with Proviso 117.21 of the appropriations act of 2022 and Executive Order 2022-19. It must be submitted to the state agency providing the contribution for the designated organization before funds can be disbursed.
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A request for contribution distribution is a formal application to withdraw funds from a retirement plan or pension fund, typically regarding contributions made by an employee or employer.
Individuals who have made contributions to a retirement plan or pension fund and wish to withdraw those contributions are required to file a request for contribution distribution.
To fill out a request for contribution distribution, one must provide personal information, specify the amount to be distributed, and include any necessary documentation or signatures as required by the retirement plan administrator.
The purpose of a request for contribution distribution is to facilitate the withdrawal of funds from a retirement account, either for retirement needs, financial hardship, or changing job status.
Information that must be reported includes the account holder's personal details, the type of account, the amount requested, reason for the withdrawal, and any tax withholding choices.
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