COVID-19 Updates

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401(K) Distributions and Loans Now Available

COVID-19 related 401k distributions are now available to participants. 

The folowing provisions have been added:

  • Loans: You can take up to $100,000 or 100% of the vested balance (whichever is less) if you need a loan; this option is available until September 22, 2020.

  • Loan suspensions: Loan repayments due between now and the end of 2020 on existing or new loans can be delayed one year.

  • Withdrawals: You may be able to take a tax-advantaged withdrawal of up to $100,000 until December 31, 2020.

NEW!

Transamerica Flyer

NEW!

CARES Act Summary for Retirement Plan Participants

Questions?

Call Center: 800-755-5801

Tips for Getting Distribution

  • If you do not have a printer and scanner, it is better to call the number and ask for a distribution request to be mailed to you.  Plan for this to take at least 20-30 minutes on the phone.  The form will be mailed to you in 7-10 business days.

  • If you have a printer and scanner, you can log into the portal and get the form.  Depending on your software, you may be able modify the form online, but you will have to print to sign.  E-signatures are not accepted.If you have not opened an online login before, you can open one following the instructions in a PDF in the 401(k) section below. Once you have opened an account, go to Details, then Forms, then Distributions, then CARES Act Distribution. 

    • If you recently accessed your account online for the first time, you will be required to notarize your distribution request.  This can be done at a UPS or FedEx store, or through www.notarize.com/transamerica.  The form states you only need notarization if the request is under $150,000, but you actually will need it if the account is new.  You can ask over the phone by calling the call center if your form needs notarization.​

  • Even if you are able to print and scan from home, it may take up to 10 business days for the funds to be deposited in your account. If you do not have the ability to do direct deposit, a paper check can be mailed to you, but the cost is $40 and it may further delay receipt of funds.

This PDF provides additional information about  your 401(k) options
This PDF provides information about viewing your account on Transamerica for the first time