Options When You Leave the Y

Transitioning from employment and understanding your retirement options can seem daunting. Additionally, if you are approaching retirement, you are likely wondering whether you have saved enough money and may want to view an estimate of your projected payment, or simply how to request the forms to get started.

The YMCA Retirement Fund is committed to helping you through this process, whether to:

  • Educate you about the value and importance of lifetime retirement income
  • Guide you through the withdrawal process*
  • Direct you to our website to keep your information current (e.g.: contact information and beneficiaries) while keeping your account balance with the Fund*

*if you qualify

Generally, if you are in the 401(a) Retirement Plan and no longer working for a YMCA, your options are as follows:

1. Keep your account balance(s) with the Fund, and upon retirement, convert your balance into a stream of lifetime retirement income. To learn more about the incredible value of this retirement benefit with the Fund, please watch our video.

2. If you are age 55 or older, you can immediately start to receive your monthly retirement income payments. For more information, visit Start Your Retirement Income Benefit or contact us to request an application to get started.

The accounts listed below are available to roll over to an IRA, Roth IRA, or eligible employer plan:

  • Tax-Deferred Account
  • Rollover Account
  • Personal Account
  • After-Tax Account

The accounts listed below are available to roll over to a Roth IRA or designated Roth account in an eligible employer plan:

  • Roth Account
  • Roth Rollover Account

You can also make a withdrawal and pay any taxes and penalties due. If your account(s) does not qualify for a withdrawal, you can convert your account into lifetime retirement income as early as age 55.

Rollovers and withdrawals for the following YMCA Accounts may be restricted:

  • YMCA Account Legacy
  • YMCA Account

You can learn more about the withdrawal process here.

Important Note: If you have an outstanding loan you must pay it off in full within 90 days of the oldest outstanding due date or your loan will be in default, resulting in a taxable distribution. When your Y has made final contributions to your account and notified the Fund of your employment termination, the Fund will mail you a letter with your outstanding loan balance.


Important Information to Know When You Leave the Y
Your Y Must Deactivate Your Retirement Account

Once your YMCA has processed your “exit interview” and reported your final contribution to your retirement account, your YMCA will deactivate your account. After the Fund has been notified that you have left employment from the YMCA, you will receive a letter from the Fund in the mail with options for your account.

No Further Contributions After Y Employment Ends

Neither you nor the YMCA can make additional contributions once you have left employment. However, if you leave your accounts at the Fund, they may be safeguarded from market volatility. The balance you have at retirement may be converted into a stream of lifetime retirement income.

Your Contact Information & Beneficiaries Should Be Current

Log in to your online account to update the current address on record and to update your beneficiary. It is important that you name a beneficiary or beneficiaries for your retirement plan account(s) to ensure the benefits are paid according to your wishes. If you do not have an online account, you can create one here. It’s easy, fast, and secure.