Withdrawals, Distributions, and Loans Distribution of Your DC Account The distribution of your DC will consist of:  The 3% mandatory contributions  Any voluntary contributions (if applicable)  All gains or losses posted to the account  Any payments made to purchase service credit unless you are vested and therefore eligible to receive a future pension benefit. Voluntary Member Contributions The following sections explain possible distribution options for voluntary member contributions. Voluntary Pre-Tax Contributions As of July 1, 2018, if you are making voluntary pre-tax contributions, you are eligible to take distribution of your pre-tax contributions once you have separated employment from your PERF Hybrid covered position. As of January 1, 2018, the Voluntary Pre-Tax Contribution election is no longer available. If you elected this option prior to January 1, 2018, you will continue to make pre-tax contributions until you retire or separate from employment. This election is irrevocable. Because these funds have not been taxed, they will be taxed along with any gains or losses accrued at the time of distribution. Voluntary Post-Tax Contributions Because these funds have already been taxed, they will not be taxed again; however, it is important to know that any earnings or interest accrued on these funds is still taxable at the time of distribution. If you are not vested at the time of distribution, the non-taxable contributions will be paid directly to you in a lump sum, or you can elect to roll over the non-taxable amount in some cases. Distribution of Rollover Funds A voluntary withdrawal of the RSA means you must withdraw the account balance in full. You may take a lump sum distribution of your RSA balance at any time prior to retirement by contacting INPRS. 6.4 Distribution Payment Options When you apply for DC and/or RSA distributions, you must choose how to receive the payments. Direct Rollover All direct rollover payments are issued on paper checks made payable to the rollover entity on your behalf. However, the check is mailed to the member to send to the rollover entity within 60 days after the check date. Taxable Portion You may elect to have all or part of the taxable portion of your DC account paid in the form of a direct rollover into an eligible 401(a), 403(b), or governmental 457(b) plan, or Traditional IRA, which has provisions allowing it to accept the rollover on your behalf. Except in the case of a Roth IRA, this option defers any taxes owed on the DC balance. Public Employees’ Retirement Fund Hybrid Plan Page 27 of 48 Member Handbook Effective: 07/01/2024