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Anchorage, AK 99503


The information contained on this website is intended to be a summary only.  In case of a difference, actual Plan Provisions will apply.  Always refer to your Summary Plan Description for details.

 Home  Retirement Savings Plan

Retirement Savings Plan - Initiating a Distribution

A "withdrawal" of funds from your account is called a distribution.  Different rules apply to withdrawing employer contributions and voluntary Pre-tax contributions compared to withdrawing After-tax contributions.  All or part of your voluntary After-tax contributions may be withdrawn twice per calendar year.  Associated earnings, if any, will be a portion of the amount withdrawn and those earnings are considered taxable.  The taxable earnings are subject to 20% federal income tax withholding.

A distribution of all or part of your employer contributions and voluntary Pre-tax contributions may only be made if one of the following conditions is met:

  • You have retired on or after your 48th birthday; or
  • You are terminated from your employer for at least 45 days
  • The participant has died - the benefits are payable to his/her spouse and/or designated beneficiary.


In all instances, you (or your beneficiary) must apply for the distribution and elect a form of payment.   If you are married, federal regulations require that your spouse consent to the distribution if your highest account balance has ever been over $5,000.  Your spouse's consent must be witnessed by a notary public or Pension Plan Representative.

Contact the Pension Department at the Administrative Office to request a distribution form.  When you submit the distribution request, you must also supply proof of your age and proof of marital status.

Acceptable proof of marital status include original or certified copy(ies) of your most recent recorded marriage certificate and/or complete divorce decree(s), including finding(s) of fact and any property settlement agreement(s).

Acceptable proof of age is as follows:




Original Document:   Certified Copies :
Birth Certificate   Naturalization papers
Infant baptismal certificate   US Census report that is at least 10 years old
    Life insurance policies that are at least 10 years old
    Family Bible entries
    Recorded Marriage Certificate
    Early school records
    Affidavit of birth
    Social security information
    U.S. Armed Forces release


Please note that the taxable amount of any lump sum distribution may also be subject to an additional 10% income tax unless the distribution is for one of the following reasons:

  • Your death or disability
  • Your retirement on or after age 55
  • To pay for unreimbursed medical expenses which are deductible from gross income for federal income tax purposes 





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