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Tuesday, February 25, 2020

Administrative and Policy Change Log

Here you will see a list of Admin and Policy changes.

09

Posting Date: January 09, 2020

Action required: None

What: The MERS Retirement Board approved an amendment to the unforeseen emergency distribution policy allowing employees to continue making contributions to their 457 program immediately after receiving such a distribution. Previously the policy stated that they must wait a minimum of six months after taking an unforeseen emergency distribution to continue making contributions.
This new policy is effective immediately and therefore any participants who received an unforeseen emergency distribution within the past six months, or receives an approved distribution of this type going forward, can continue making contributions without delay if they so choose.

Key Date(s): Policy effective immediatly

Impacted audiences: MERS 457 Program participants who have taken an unforeseen emergency distribution within the last six months, or take such a distribution going forward

Key information:

See above

For more information, contact: Contact the MERS Service Center at 800.767.6377

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The information contained in this Web site is being made available as a public service. The information is not intended to constitute legal or investment advice, or to replace official versions of that information. Benefit Estimates or Service Credit Purchase estimates requested through this Web site are not official descriptions of any benefits, and do not represent a promise by MERS to provide any benefit(s) to any person(s). No one can detrimentally rely upon the information provided in, or requested through this Web site. MERS reserves the right to correct any errors, and presents this information without warranties, express or implied, regarding the information?s accuracy, timeliness or completeness. If you believe the information is inaccurate, out-of-date, or incomplete, or if you have problems accessing or reading the information, please call MERS at 800.767.MERS (6377).