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More information on 401(a) Defined Contribution Pension Plan

Investment Options

Contributions are invested at the employee's direction among the various investment options. Participants may change their investment options at any time by calling (866) 772-4012 or via the DC 401(a) Retirement Plan website.

Quarterly Statements

Each calendar quarter, participants will receive a statement showing the contributions made during the quarter, any interest and investment gains or losses, and the current account balance. Quarterly statements will be mailed within 20 calendar days after the end of each calendar quarter.

Vesting

"Vesting" refers to a participant's right to receive the account balance held on his/her behalf when he/she leaves District government service.

The retirement account will become fully vested under the following circumstances:

  • Prior to December 8, 2009, completion of five years of creditable service in covered employment,
  • Effective December 8, 2009, graded vesting is based on the following schedule
Years of Creditable Service Percentage of Your Account that Is Vested
Less than 2 0%
2 20%
3 40%
4 60%
5 or more 100%

If an employee leaves District government employment before his/her account is vested, he/she forfeits the account balance.

  • Death while employed, or
  • Permanent disability

Distributions and Withdrawals

Normally, the money in an employee's account is distributed when he/she retires.

Other circumstances under which employees or their beneficiaries can receive their account balance are:

  • Termination of employment (if vested)
  • Death while employed, or
  • Permanent disability

Payment Options

When the account value is distributed, the employee or his/her beneficiary may choose from various payment options, including:

  • Lump sum cash payment
  • Lump sum rollover payment
  • Installment payments
  • Annuity payments

All of the above payments, except for a lump sum rollover payment, are subject to federal and some state taxes.

For lump sum cash payments, ING will withhold 20 percent for federal tax purposes at the time of payment. A participant may incur a 10 percent federal tax penalty if he/she elects a distribution (other than lump sum rollover payment) before turning age 59½.

Minimum Distribution Requirement (MDR)

IRS regulations require that participants must begin receiving payments from their retirement account by April 1 of the calendar year following the later of:

  • The calendar year the employee attains age 70½, or
  • The calendar year the employee retires

Filing a Claim for Benefits

Plan benefits must be applied for in writing. Contact ING at (866) 772-4012 and request a distribution package. The participant must complete and sign the required forms in the package and send them, with his/her personnel action form, to the DC Department of Human Resources (DCHR), Office of Employee Benefits, 441 4th Street, NW, Suite 340 North, Washington, DC 20001. DCHR must approve the payment and forward the forms to ING.

ING will mail payment to the participant within two calendar days of receiving the approved forms.

Contact Listing

DC Office of Finance and Treasury

1101 4th Street SW
8th Floor
Washington, DC 20005
Edward F. Obaza (202) 727-2959
DC Department of Human Resources
Office of Employee Benefits
441 4th Street, NW, Suite 340 North
Washington, DC 20001
Terri Peterson (202) 442-9611

Beneficiary Designation Form, If you are married, spousal consent is required.

ING Local Office:

441 4th Street, NW
Suite 340 North
Washington, DC 20001
(866) 772-4012, Option 2
ING Mailing Address:
ING
Attn: DC 401(a) Plan Administration
PO Box 5279
Boston, MA 02206-5179
ING Overnight Mailing Address:
ING
Attn: DC 401(a) Plan Administration
30 Braintree Hill Office Park
Braintree, MA 02184
 

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