All initial withdrawal requests are initiated on NetBenefits or by calling the Fidelity Retirement Service Center at 1-800-343-0860. You can change your distributions online or by calling Fidelity
Distribution requests are processed the same day the distribution is approved, and you can choose the day of the month to receive your payments.
From the Portal Dashboard:
Click the “Request a one-time withdrawal or loan” tile on the MyRPB For Participants homepage.
(If you’re already in NetBenefits, click the “Withdrawals/Loans” tab.)
You’ll be provided personalized options for making withdrawals and loans.
You can request the amount you want to receive before or after any applicable taxes are withheld.
For example, a request to receive $5,000 after taxes are withheld, results in a $6,684.20 withdrawal from the account.
If you choose to continue to submit your withdrawal request, the website will guide you the steps to take to:
- Verify your email address to receive confirmation of your withdrawal request
- Acknowledge you reviewed the Participant Distribution and Tax Notice in the last 30 days (the link is available)
- Direct what action to take if market fluctuation causes your available amount to drop below your requested withdrawal amount
- Choose your delivery method
- Review the summary of your request
Any required paperwork can be printed or mailed and then returned to Fidelity.
Tax withholding & RMDs
Rates default to 0% for clergy and 20% for non-clergy. To change your tax withholdings, call Fidelity. Special tax withholding rules apply.
Your 2020 RMD will not be distributed under the CARES Act. Retirees must call Fidelity if you would like to receive your RMD for 2020.