If you separate from Department and City service, you may withdraw your retirement contributions plus accrued interest. If you withdraw your contributions and interest, the taxable portion of your withdrawal is subject to mandatory withholding for federal income tax, unless you roll it over to a tax-qualified plan or an Individual Retirement Account (IRA), and you may be subject to additional federal and California state income taxes. Please consult with your financial advisor when making the decision to withdraw or rollover your funds from the Plan.
Withdrawing your contributions from the Plan will terminate your rights to all Plan benefits. Before requesting a withdrawal, please speak with the Retirement Plan Office about your specific situation, especially if you are receiving Disability Benefits, appealing a discharge for cause, have a divorce claim, or a wage garnishment order.
If you contributed to the Additional Annuity Program, and you elect to withdraw your retirement contributions and interest, you must also withdraw your Additional Annuity contributions.
To request an application for a withdrawal or rollover of your funds, please call the Membership Section at (213) 367-1695. It will take approximately 8-10 weeks to process your withdrawal upon receipt of the application.
Employees Retirement Plan Room 357 Department of Water & Power PO Box 51111 Los Angeles, CA 90099-5520
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