Distributions, Transfers and Rollovers
The primary purpose of a retirement savings account is to build a financially secure future for you and your family. The retirement plans include provisions regarding when you can request a distribution from the plan during Ohio State employment and after separation from Ohio State service. The following information outlines the types of distribution for the Ohio State retirement plans and how distributions work.
For OPERS and STRS retirement accounts, please contact the retirement system for information on distributions.
Accessing Your Funds
Ohio Public Employees Retirement Plan (OPERS)
OPERS accounts are managed by OPERS. Contact OPERS for information on eligible distributions
State Teachers Retirement Plan (STRS)
STRS accounts are managed by STRS. Contact STRS for information on eligible distributions
Other Plans
| Distribution | ARP 401(a)* | Supplemental Retirement Accounts (pre-tax and Roth contributions) |
Executive Retirement Plans | ||
|---|---|---|---|---|---|
| 403(b) | 457(b) | RCP 401(a)^ | 415(m) | ||
| Loan1 | No | Yes, if permitted by the applicable funding vehicle | No | No | No |
| Hardship / Unforeseeable Emergency | No | Yes, hardship distributions are permitted if permitted by the applicable funding vehicle (Hardships are not available at legacy providers) | Yes, unforeseeable emergency distributions are permitted (Unforeseeable emergency withdrawals are not available at legacy providers) |
Yes | No |
| Disability | Yes | Yes | No | Yes | No |
| Age 59½ | No | Yes | No | No | No |
| Required Minimum Distributions (RMD) | Yes, minimum distributions must begin April 1 of the following calendar year after reaching age 73 | Yes, but not required while actively employed | Yes, minimum distributions must begin April 1 of the following calendar year after reaching age 73 | Yes, minimum distributions must begin April 1 of the following calendar year after reaching age 73 | No |
| Qualified Domestic Relations Order | Yes | Yes | Yes | Yes | No |
| Service Credit Purchase | No | Yes. Governmental plan may not accept Roth contributions toward purchase. | Yes. Governmental plan may not accept Roth contributions toward purchase | No | No |
| In-Plan Roth Rollovers | N/A | Yes | Yes | N/A | N/A |
| Transfer Between Plan Providers and Investment Options | Yes | Yes | Yes | Yes, to Fidelity only |
Yes, to Fidelity only |
| Rollover to OSU Plan | Yes | Yes | Yes | Yes | No |
| Note: These tables provide a brief description of eligible distributions and the movement of account funds under the university’s retirement plans and are subject to the terms and conditions of the applicable retirement plan. Please see the applicable retirement plan document for specific and detailed information. In the event of a conflict between the tables and a retirement plan, the terms of the retirement plan will govern
*Alternative Retirement Plan 401(a) |
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Ohio Public Employees Retirement Plan (OPERS)
OPERS accounts are managed by OPERS. Contact OPERS for information on eligible distributions
State Teachers Retirement Plan (STRS)
STRS accounts are managed by STRS. Contact STRS for information on eligible distributions
Other Plans
| Distribution | ARP 401(a)* | Supplemental Retirement Accounts (pre-tax and Roth contributions) |
Executive Retirement Plans | ||
|---|---|---|---|---|---|
| 403(b) | 457(b) | RCP 401(a)^ | 415(m) | ||
| Separation from Service | Yes, based on investments selected | Yes, based on investments selected; however, penalties will apply if distribution occurs prior to age 59½ | Yes, based on investments selected | Yes, based on investments selected | Depends on distribution and commencement date elected |
| Loan1 | No | No | No | No | No |
| Hardship / Unforeseeable Emergency | No | No | No | No | No |
| Required Minimum Distributions (RMD) | Yes, minimum distributions must begin April 1 of the following calendar year after reaching age 73 | Yes, but not required while actively employed | Yes, minimum distributions must begin April 1 of the following calendar year after reaching age 73 | Yes, minimum distributions must begin April 1 of the following calendar year after reaching age 73 | No |
| Qualified Domestic Relations Order | Yes | Yes | Yes | Yes | No |
| Transfer Between Plan Providers and Investment Options | Yes | Yes | Yes | Yes, to Fidelity only |
Yes, to Fidelity only |
| Rollover from OSU Plan | Yes | Yes | Yes | Yes | No |
| Note: These tables provide a brief description of eligible distributions and the movement of account funds under the university’s retirement plans and are subject to the terms and conditions of the applicable retirement plan. Please see the applicable retirement plan document for specific and detailed information. In the event of a conflict between the tables and a retirement plan, the terms of the retirement plan will govern.
*Alternative Retirement Plan 401(a) |
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How to Request a Distribution
The tool below describes how to take a distribution from your retirement account. The instructions will vary based on your reason for taking a distribution. To use the tool, select your current status, provider and plan using the drop-down menus. The result will include separate instructions for each potential purpose of a distribution.
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Plan Name distribution options for Current/Former Employees with [PROVIDER]
Request an unforeseeable emergency withdrawal
Contact [PROVIDER] to discuss your eligibility. [PROVIDER] will instruct you on the necessary paperwork. See provider contact information.
Request a loan from my 403(b) account
Contact [PROVIDER] about loan eligibility. If eligible, complete [PROVIDER] required paperwork. See provider contact information. NOTE: Loans are only available at approved 403(b) providers. If your balance is currently at a legacy provider, you must transfer your 403(b) balance to an approved 403(b) provider to take a loan. To be eligible for a loan, you must have a total account balance of at least $2,000. The minimum loan amount is $1,000. You may only have one existing loan at a time.
Request a hardship distribution
Contact [PROVIDER] about eligibility for a hardship distribution. If eligible, complete [PROVIDER] required paperwork. See provider contact information.
Request a distribution due to severance of employment
Contact [PROVIDER] about eligibility. If eligible, complete [PROVIDER] required paperwork. Allow 1-2 weeks for [PROVIDER] to process your distribution. See provider contact information.
Request a distribution due to disability
Request the distribution paperwork from [PROVIDER]. Submit completed paperwork to [PROVIDER]. Allow 1-2 weeks for [PROVIDER] to process your distribution. See provider contact information.
Request a distribution after obtaining age 59½.
Request the distribution paperwork from [PROVIDER]. Submit completed paperwork to [PROVIDER]. Allow 1-2 weeks for [PROVIDER] to process your distribution. See provider contact information.
Take a Required Minimum Distribution (RMD)
Take a Required Minimum Distribution (RMD)
Process a Qualified Domestic Relations Order (QDRO) request
QDROs are handled by your attorney and [PROVIDER] directly. Ohio State does not provide any information related to QDROs. See provider contact information.
Purchase service credit
Contact OPERS at (800) 222-7377 or STRS at (888) 227-7877 to discuss purchasing service credit.
Request an In-plan Roth conversion within my Ohio State Plan Name account at [PROVIDER]
Contact [PROVIDER] to discuss converting your pretax balance to Roth. You will be responsible for paying any taxes for the year in which you convert pretax assets to Roth. Consult with a tax advisor or qualified financial professional before making an in-plan Roth conversion. See provider contact information.
Request an In-plan Roth conversion with an approved 403(b) provider
You must transfer your balance from your current 403(b) account to an approved 403(b) provider. Choose your new 403(b) provider (Corebridge Financial, Fidelity, TIAA or VOYA) at NetBenefits. Once you ensure your new 403(b) account is established and your funds have been transferred, you can begin the conversion process. Request the provider transfer paperwork from your new provider. Submit the completed paperwork to your new provider. See provider contact information.
You will be responsible for paying any taxes for the year in which you convert pretax assets to Roth. Consult with a tax advisor or qualified financial professional before making an in-plan Roth conversion.
Request an In-plan Roth conversion with an approved 403(b) provider
You must transfer your balance from your current 403(b) account to an approved 403(b) provider. Choose your new 403(b) provider (Corebridge Financial, Fidelity, TIAA or VOYA). Once you ensure your new 403(b) account is established and your funds have been transferred, you can begin the conversion process. Request the provider transfer paperwork from your new provider. Submit the completed paperwork to your new provider. See provider contact information.
You will be responsible for paying any taxes for the year in which you convert pretax assets to Roth. Consult with a tax advisor or qualified financial professional before making an in-plan Roth conversion.
Request an In-plan Roth conversion with an approved 457(b) provider
You must transfer your balance from your current 457(b) account to an approved 457(b) provider. Contact [PROVIDER] to discuss converting your pretax balance to Roth. Go to NetBenefits and choose your new provider for future contributions. You will be responsible for paying any taxes for the year in which you convert pretax assets to Roth. Consult with a tax advisor or qualified financial professional before making an in-plan Roth conversion. See provider contact information. NOTE: In-plan Roth conversions are not available at Ohio Deferred Compensation (ODC).
Request an In-plan Roth conversion with an approved 457(b) provider
You must transfer your balance from your current 457(b) account to an approved 457(b) provider. Contact [PROVIDER] to discuss converting your pretax balance to Roth. Choose your new provider for future contributions. You will be responsible for paying any taxes for the year in which you convert pretax assets to Roth. Consult with a tax advisor or qualified financial professional before making an in-plan Roth conversion. See provider contact information. NOTE: In-plan Roth conversions are not available at Ohio Deferred Compensation (ODC).
Transfer my existing [PROVIDER] balance to an Ohio State approved provider within the same plan
Transfer my existing [PROVIDER] balance to an Ohio State approved provider within the same plan
Rollover funds from a retirement account into an approved Ohio State plan
Rollover funds from an eligible retirement account into an approved Ohio State plan
Contact your original provider and complete any necessary paperwork. Request the rollover paperwork from Corebridge Financial, Fidelity, TIAA or Voya. Go to NetBenefits and choose your new provider for future contributions. This will ensure future contributions are sent to your new provider. See provider contact information.
Update my investment selections to the current investment lineup
Request a distribution due to a death
Distributions due to death are handled by [PROVIDER] directly. Ohio State does not maintain any personal information related to distributions due to death. See provider contact information.
Plan Name distribution options for Current/Former Employees with [PROVIDER]
Request a distribution due to severance of employment
Complete the Retirement Distribution Certification Request form and submit it to HR as shown at the end of the form. You will receive a certificate within two working days. Request distribution paperwork from [PROVIDER]. See provider contact information. Submit the certificate and completed paperwork to [PROVIDER]. Allow 1-2 weeks for [PROVIDER] to process your distribution.
Request a distribution due to disability
Request the distribution paperwork from [PROVIDER]. Submit completed paperwork to [PROVIDER]. Allow 1-2 weeks for [PROVIDER] to process your distribution. See provider contact information.
Request a distribution after obtaining age 59½.
Request the distribution paperwork from [PROVIDER]. Submit completed paperwork to [PROVIDER]. Allow 1-2 weeks for [PROVIDER] to process your distribution. See provider contact information.
Take a Required Minimum Distribution (RMD)
Take a Required Minimum Distribution (RMD)
The plan document requires your RMD to begin at the applicable time. Contact [PROVIDER] to discuss the timing of your RMD. See provider contact information.
Process a Qualified Domestic Relations Order (QDRO) request
QDROs are handled by your attorney and [PROVIDER] directly. Ohio State does not provide any information related to QDROs. See provider contact information.
Purchase service credit
Contact OPERS at (800) 222-7377 or STRS at (888) 227-7877 to discuss purchasing service credit.
Request an In-plan Roth conversion with an approved 403(b) provider
You must transfer your account balance(s) to an approved Ohio State pretax plan provider. Choose your new 403(b) provider (Corebridge Financial, Fidelity, TIAA or VOYA) at NetBenefits. Once you ensure your new 403(b) account is established, you can begin the conversion process. Request the provider transfer paperwork from your new provider. Submit the completed paperwork to your new provider. See provider contact information.
You will be responsible for paying any taxes for the year in which you convert pretax assets to Roth. Consult with a tax advisor or qualified financial professional before making an in-plan Roth conversion.
Request an In-plan Roth conversion with an approved 403(b) provider
You must transfer your balance from your current 403(b) account to an approved 403(b) provider. Choose your new 403(b) provider (Corebridge Financial, Fidelity, TIAA or VOYA). Once you ensure your new 403(b) account is established and your funds have been transferred, you can begin the conversion process. Request the provider transfer paperwork from your new provider. Submit the completed paperwork to your new provider. See provider contact information.
You will be responsible for paying any taxes for the year in which you convert pretax assets to Roth. Consult with a tax advisor or qualified financial professional before making an in-plan Roth conversion.
Request an In-plan Roth conversion with an approved 457(b) provider
You must transfer your balance from your current 457(b) account to an approved 457(b) provider. Contact [PROVIDER] to discuss converting your pretax balance to Roth. Go to NetBenefits and choose your new provider for future contributions. You will be responsible for paying any taxes for the year in which you convert pretax assets to Roth. Consult with a tax advisor or qualified financial professional before making an in-plan Roth conversion. See provider contact information. NOTE: In-plan Roth conversions are not available at Ohio Deferred Compensation (ODC).
Request an In-plan Roth conversion with an approved 457(b) provider
You must transfer your account balance(s) to an approved Ohio State pretax plan provider. Once you ensure your new 457(b) account is established, you can begin the conversion process. Request the provider transfer paperwork from your new provider. Submit the completed paperwork to your new provider. See provider contact information. NOTE: In-plan Roth conversions are not available at Ohio Deferred Compensation (ODC).
You will be responsible for paying any taxes for the year in which you convert pretax assets to Roth. Consult with a tax advisor or qualified financial professional before making an in-plan Roth conversion.
Transfer my existing [PROVIDER] balance to an Ohio State approved provider within the same plan
Transfer my existing [PROVIDER] balance to an Ohio State approved provider within the same plan
Rollover my existing [PROVIDER] balance to another retirement account not associated with Ohio State
Contact your new provider to discuss your rollover. Complete the Retirement Distribution Certification Request form and submit it to HR as shown at the end of the form. You will receive a certificate within two working days. Request any necessary paperwork from [PROVIDER]. Submit certificate and completed paperwork to [PROVIDER]. Allow 1-2 weeks for your new provider to receive and post the rollover to your account.
Rollover funds from a retirement account into an approved OSU plan
Contact your original provider and complete any necessary paperwork. Request the rollover paperwork from Corebridge Financial, Fidelity, TIAA or Voya. Go to NetBenefits and confirm your ARP provider election. See provider contact information.e rollover to your account.
Rollover funds from an eligible retirement account into an approved Ohio State plan
Update my investment selections to the current investment lineup
You must transfer your account balance(s) to an approved provider to participate in the tiered investment lineup. Contact [PROVIDER] about any necessary rollover paperwork. See provider contact information. Go to NetBenefits or ohio457.org for Ohio Deferred Compensation (ODC) and choose your new provider for future contributions.
Note: Ohio Deferred Compensation maintains their investment listing.
You must transfer your account balance(s) to an approved 457(b) provider to participate in the tiered investment lineup. Contact [PROVIDER] about any necessary rollover paperwork. Contact your new provider and request any applicable paperwork. See provider contact information.
Note: Ohio Deferred Compensation maintains their investment listing.
Request a distribution due to a death
Distributions due to death are handled by [PROVIDER] directly. Ohio State does not maintain any personal information related to distributions due to death. See provider contact information.
Plan Name distribution options for Current/Former Employees with [PROVIDER]
Please contact Ohio Deferred Compensation at (877) 644-6457 to discuss your account options.
Manage Plans
The NetBenefits portal, sponsored by Fidelity, allows employees to enroll/manage 403(b) and 457(b) plans and change provider(s) for the university sponsored retirement plans.
A NetBenefits User Guide and NetBenefits How-To Video are available for assistance.
Trouble with the site? Contact the Fidelity Service Center at (800) 343-0860.
Ohio Deferred Compensation (ODC) elections/changes can be made at ohio457.org or by calling (877) 644-6457.