What authorization is required for me to perform a distribution, rollover, loan, hardship or exchange?
In the past, transactions such as distributions, rollovers, hardship withdrawals, loans, and exchanges were generally accomplished through your investment provider without any involvement of your employer. However, the IRS’ new 403(b) regulations now require the employer and your investment provider to share certain information and to coordinate when performing these transactions. A transaction authorization process will be utilized in order to facilitate necessary coordination and information sharing. If you wish to perform a distribution, rollover, hardship withdrawal, loans, or exchange, your investment provider must receive authorization from your employer’s third party administrator, Kazdon. Authorization is obtained through submission of an Authorization Form. Please note that in addition to the Authorization Form, your investment provider will likely still require submission of its own paperwork. Contact your investment provider for additional information.
