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  • Al Rsa-1 Financial Hardship Distribution Request 2020

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RSA1 Financial Hardship Distribution Request Retirement Systems of Alabama PO Box 302150, Montgomery, Alabama 361302150 877.517.0020 334.517.7000 www.rsaal.govYour Your Informational FirstMiddle/MaidenLastAddress Street.

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RSA-1 is an Internal Revenue Code Section 457 deferred compensation plan for public employees. This voluntary plan allows you to save and invest extra money for retirement, tax deferred. Not only will you defer taxes immediately, your contributions and any earnings will grow on a tax-deferred basis as well.

Distributions from the RSA-1 and PEIRAF plans are taxable for Federal Income Tax purposes. All funds distributed from the PEIRAF plan and most payments from the RSA-1 plan are also subject to state of Alabama Income Tax.

Tier 1 member: You are eligible to retire at any age with 25 or more years of service or at age 60 with 10 or more years of service. Tier 2 member: You are eligible to retire at age 62 (age 56 for State Police and certified, full-time firefighter and law enforcement officer) with 10 or more years of service.

Tier 1 member: You are eligible to retire at any age with 25 or more years of service or at age 60 with 10 or more years of service. Tier 2 member: You are eligible to retire at age 62 (age 56 for State Police and certified, full-time firefighter and law enforcement officer) with 10 or more years of service.

The only way to get money out of an ERS account is to terminate employment and withdraw the entire account.

Tax Information You do not pay current federal or state income taxes on your investment earnings. RSA-1 deferrals and earnings are only subject to taxes when the funds are withdrawn from RSA-1.

Participation in Other Plans If you are making deferrals to another Section 457 plan, the annual contribution maximum applies to all 457 plans. For example, if you are deferring $9,000 in 2020 to RSA-1, you are limited to a total of $10,500 (or $17,000 age 50 and over) with any other 457 plan in that calendar year.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
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