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Employee Account Withdrawals | Print |

May I make withdrawals from my account while an employee?

You may elect to take an in-service withdrawal of all or part of your vested account balance once you reach age 70. In-service withdrawals are not allowed under the Plan prior to age 70. Loans from the Plan are also not permitted.
However, if you are a member of a governmental defined benefit plan outside of Fulton County, and that the Plan allows its members to purchase service credit, you may request a ONE-TIME transfer of all or part of your account in the Plan to that governmental defined benefit plan, in order to buy service credit under that plan. You can make this request even while you are still employed by Fulton County. However, any amounts transferred must be made directly by the Plan to the other governmental plan. These amounts CANNOT be paid to you to deposit with the other plan. For example, if you are a member of the State of Georgia Employee’s Retirement System (“ERS”), and you can buy service credit under the terms of ERS, you may use your vested 401(a) money in this Plan to pay for it. Fulton County will transfer the required amounts directly to ERS on your
behalf. Fulton County will make this transfer for you only once while you are working for the County.

 
 

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