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V e r do p g d ee Alht r h cpr hN C C m ay lpo ga s oyi t Y o p g o pn DEFERRED COMPENSATION PLAN LOAN APPLICATION 212 306-7760 TTY 212 306-7707 888 DCP-3113 Outside NYC nyc.gov/deferredcomp Mail do not fax completed form to Bowling Green Station P. O. Box 93 New York New York 10274-0093 Please Print - Black Ink Preferred Agency Payroll Code I. CHECK ONLY ONE q 457 Plan Loan II. 75 which will be deducted from your 457 or 401 k account on a quarte.

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If approved, you can receive up to the full amount of your 457 account balance. There is no tax penalty for this early withdrawal and the entire withdrawal is taxed as ordinary income. Your decisions regarding an unforeseeable emergency withdrawal will have financial consequences as well as income tax implications.

The CalPERS 457 Plan is a retirement savings plan. Generally, you cannot withdraw money from your plan account while you are still employed by your employer. You may, however, make Emergency withdrawals for specific financial hardships prior to separation from employment.

You can take out small or large sums anytime, or you can set up automatic, periodic payments. If your plan allows it, you may be able to have direct deposit which allows for fast transfer of funds. Unlike a check, direct deposit typically doesn't include a hold on the funds from your account.

Deferred compensation plans don't have required minimum distributions, either. Based upon your plan options, generally, you may choose 1 of 2 ways to receive your deferred compensation: as a lump-sum payment or in installments.

To take your RMDs, you have to fill out a Deferred Compensation Plan Participant Required Minimum Distribution (RMD) Form, which can be found in the DCP Forms and Downloads section of our website.

Is there a time when I must withdraw money from my Deferred Compensation Plan? If you have separated from service with New York State or a participating employer, you must begin receiving payments no later than April 1 following the close of the calendar year in which you turn age 72.

You can borrow up to 50 percent of your vested account balance, with a minimum loan of $1,000 up to a maximum of $50,000. To find out how much you may qualify for, contact us.

How do I apply for a loan? You can request a loan by logging in to your DCP account, completing a Loan Application Form, or calling the Service Center at 844-523-2457.

You may take up to 12 partial withdrawals annually. Each withdrawal must be at least $100. You may postpone payment of the remainder of your Plan account balance until age 72, request additional partial withdrawals as needed or establish periodic payments.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232