If you leave the YMCA before you become eligible for the Retirement Plan, you have six years to return to the YMCA and keep the service you've earned towards eligibility. If you do not return to YMCA employment within six years, you'll be treated as a new employee upon your return to YMCA employment.

If you leave the YMCA as a vested participant in the Retirement Plan, and you return to YMCA employment in the future, contributions to your accounts should resume immediately.
 

No, neither you nor the YMCA can make further contributions. However, your accounts will continue to earn interest.
 

Once your YMCA has notified the Fund that you have left employment, we will send you a letter outlining your options. If you decide to withdraw your accounts, contact the Fund's Customer Service Department at 800-RET-YMCA.

For more information, see our publication Leaving and Retiring.

If you have recently moved, you will need to notify our Customer Service Department so that we can update our records.

 

You may take a partial withdrawal from your Retirement Plan or Savings Plan Accounts if:

• you are eligible to take a full withdrawal from either Plan
• you have a total balance in one or both Plans of $10,000 or more
• your withdrawal amount does not result in your balance in a Plan going below $5,000

Only one partial withdrawal per Plan is allowed in a six-month period.

 

If you roll over your money, you will not pay taxes until you withdraw it from the new retirement account. If you don't roll over the taxable portion of your retirement savings to another eligible employer plan or IRA, it will be taxed as ordinary income in the year you withdraw it. The Fund is required to withhold 20% towards your federal income taxes (state tax laws may vary). We will send you an IRS Form 1099R to file with your tax returns.

When you file your taxes for the year, you will need to complete an IRS Form 5329 to pay the tax. Attach it to your annual tax return.

 

Before the Fund will process your request, your YMCA must report your termination of employment to the Fund and remit all contributions due to your account(s). After the Fund has received your properly completed form(s), it may take 10-14 days to process your request.
 

Yes, if you withdraw money, the benefits will be calculated using your remaining balance.