Applying for DROP Distribution - Early Termination
Apply for DROP Distrib - Early Term Packet.pdf |
INSTRUCTIONS: ALABAMA DEFERRED RETIREMENT OPTION PLAN (DROP) REQUEST FOR EARLY TERMINATION OF DROP
Alabama state employees and retirees who are eligible to transfer part of their state retirement plans to an IRA or an employer plan can do so by using the document discussed in this article. This form can be found on the website of the Retirement Systems of Alabama.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 1: Enter your name and Social Security number.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 2: Enter your address.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 3: Enter your work and home telephone numbers.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 4: Enter your employing agency.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 5: Enter the requested effective date of your DROP termination.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 6: Enter your date of birth.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 7: In response to part I, indicate with a check mark why you are requesting an early termination of your DROP.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 8: In part II, indicate your wishes regarding withholding from pension or annuity payments.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 9: Only complete part III if your employing agency permits the conversion of sick leave days to retirement credits.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 10: Sign the form in Part IV.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 11: A notary public should sign the form and affix their seal.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 12: The employer should complete Part V.
Alabama Deferred Retirement Option Plan (DROP) Request For Early Termination Of DROP Step 13: This packet also provides a form authorizing the continuation of state health insurance, as well as one allowing you to elect to take rollover distribution and one authorizing direct deposits of your refund.