Seattle 457 Deferred Compensation Plan

Seattle 457 Deferred Compensation Plan

<p> SEATTLE 457 DEFERRED COMPENSATION PLAN</p><p>IN-SERVICE WITHDRAWAL APPLICATION</p><p>Name______Last First Middle Initial</p><p>Social Security Number______</p><p>Address______</p><p>______</p><p>Day phone______Home phone______</p><p>According to Federal Law, you may request payment from your account while you are employed by the City of Seattle under the following limited circumstances: A. Your account, and total distribution, is $5,000 or less; B. You have not made a contribution to your account for at least two years before the date of this requested distribution, and C. You have not previously received an in-service distribution under these rules.</p><p>Federal income tax will be withheld and remitted to the Internal Revenue Service in accordance with the elections made on your Form W-4 and the amount required to be withheld under IRS payroll tax guidelines. If you do not submit a Form W-4, the default withholding will be single, zero dependents. Taxes withheld from your distribution are remitted to the Internal Revenue Service as soon as a distribution occurs and cannot be returned.</p><p>I have read and understand the provisions of the in-service withdrawal and the tax implications. I hereby request the City of Seattle to distribute to me the amount indicated below as an in-service withdrawal.</p><p>I hereby request a withdrawal in the amount of $______.</p><p>______Participant’s signature Date</p><p>______Plan Sponsor’s (employer) signature Date</p>

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