If you are clergy and would like your required minimum distribution (RMD) payments to be housing allowance:
Call Empower (833-882-2023) and tell them you would like to request your RMD.
A representative will take your request over the phone (be sure to tell them to check the housing allowance box)
or will send you the RMD form to complete and then upload or mail in.
If you are completing the form yourself, please note the following:
In Step 2: check YES for "is this a housing allowance withdrawal?" (below):
If you are requesting periodic installment payments (Step 3, Option C) and would like tax suppression (no withholding), check the highlighted boxes below for no federal and state withholding:
Then complete and include the form W-4P.
You may find the instructions on page 2 useful where it says:
"Choosing not to have income tax withheld. You can choose not to have federal income tax withheld from your payments by writing “No Withholding” on Form W-4P in the space below Step 4(c). Then, complete Steps 1a, 1b, and 5."
If you live in one of the following states and do not want any state withholding , you’ll also need to complete and include a state version of the W-4P:
If you are requesting a one-time payment (Step 3, Option A), and would like no federal withholding, enter 0 for the percent withholding:
(And follow the above for no state withholding.)
Questions?
Call Empower or email retirementplan@uua.org.