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FRS Tip of the Month

June 07, 2021
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FRS Tip of the Month

   If you’re thinking about making that leap of faith into retirement this July, it may be a good idea to re-check your cash flow needs. For those in the investment plan, a distribution cannot be issued until you have been terminated for three calendar months* (except if you have met the normal retirement requirements of the Investment Plan you may receive a one-time distribution of up to 10% of your account balance after one calendar month). Just remember, there is a 20% mandatory Federal Tax withholding though. For more Tips and Strategies check out our upcoming FRS Retirement Preparedness Series at www.FRSWorkShop.com

*https://www.myfrs.com/FRSPro_ComparePlan_Reemp.htm#:~:text=A%20distribution%20may%20not%20be,balance%20after%20one%20calendar%20month).