CRCC Benefits

2. How do I designate a beneficiary for the Supplemental Retirement Plan?
Answer 2: You should complete a Designation of Beneficiary card as soon as you become a participant in the Supplemental Retirement Plan. Click here to download a form. IT IS YOUR RESPONSIBILITY TO KEEP YOUR DESIGNATION OF BENEFICIARY CARD UP TO DATE. You may update your beneficiary card at any time. It is strongly recommended that you update your Designation of Beneficiary Card when you: marry, divorce, become widowed, have a child, or experience another major life event. Please note that your beneficiary designation does not become effective until the date that the Designation of Beneficiary Card is received by the Fund Office.

3. What happens to my Supplemental Retirement Plan Account Balance if I die without a Designation of Beneficiary card on file?

Answer 3: Benefits (if any) are paid in the following order of preference:

(1) your surviving spouse, or if none, then to

(2) your surviving children (in equal shares), or if none, then to

(3) your surviving parents (in equal shares), or if none, then to

(4) your estate

Answer 4: Even if you are retired and receiving your defined benefit pension benefit, you are not required to begin payments from the Supplemental Retirement Plan until 60 days after the end of the year in which you reach age 70-1/2.

5. Can I withdraw my Supplemental Retirement Account Balance before I retire or terminate employment?

Answer 5: Yes, in limited circumstances.

Click here for the Benefit Info - Withdrawals section.

6. Do I have to pay an application fee to the Fund Office for any type of withdrawal from my Supplemental Retirement Plan Account?

Answer 6: The Fund Office does not charge any type of a fee when you apply for or receive a Supplemental Retirement Plan distribution.

However, you should be aware that there may be tax consequences when you receive a distribution.

Click here to review the Special Tax Notice pertaining to distributions.

7. How often can I take a Hardship Distribution from my Supplemental Retirement Plan Account?

Answer 7: You may take a Hardship Distribution from the Plan twice within a rolling 12 month period. (Foreclosure and tuition hardships may be made more than twice in a rolling 12 months, provided certain conditions are met – contact the Pension Department for additional information).

8. How often can I take an In-Service Distribution from my Supplemental Retirement Account?

Answer 8: You may take an In-Service Distribution from the Plan once within a rolling 12 month period.

9. Are there limits on the amounts that can be withdrawn for a Hardship Distribution?

Answer 9: You may withdraw only the amount necessary to satisfy the immediate hardship need. The minimum amount of a Hardship Distribution is $1,000 or your total Supplemental Retirement account balance, whichever is less.

10. If I withdraw my entire account balance, will my account be closed?

Answer 10: Yes, your account will be closed. However, your account will automatically be re-opened when you return to work (or continue to work) for a contributing employer and again start to earn hours of service in the Supplemental Retirement Plan.

11. If I take a withdrawal, can I later repay the amounts that I received to the Supplemental Retirement Fund?

Answer 11: No. There is not a repayment provision under the Plan.

12. How long does it take the Pension Department to approve an application for a withdrawal from the Supplemental Retirement Plan?

Answer 12: In general, it takes the Pension Department 7-10 business days to process an application for distribution. After the application is approved by the Pension Department, it is then sent to Mercer Investments for processing of your distribution check. In general, it takes Mercer Investments an additional 3-5 business days to process and mail out the check to you.

Note that processing may take longer during periods when a high volume of applications for distribution are received by the Pension Department.

13. How will I know if my application for a withdrawal from the Supplemental Retirement Plan is denied?

Answer 13: If you application is denied, you will receive a denial letter which will explain the reason for the denial and inform you of your appeal rights.

14. When applying for a Hardship Distribution what type of documentation is required?

Answer 14: Please note that other current supporting documentation may be required in addition to the items listed below. Also, it is important to understand that, as it pertains to Hardship distribution documentation, the term current means that the supporting documentation was prepared within 30 days of the date of the Financial Hardship distribution application.

If you are applying for a hardship distribution for costs directly related to the initial purchase (excluding mortgage payments) of a principal residence for you (rental property excluded) you need to submit the following:

A copy of the purchase agreement to buy the home signed by both the buyer and seller (Note that the closing date must be after the date of the Hardship distribution)
If you are obtaining a loan, submit a copy of the current “Good Faith Estimate” from your mortgage company that shows the property address. You must sign the Good Faith Estimate.

If you are applying for a hardship distribution for prevention of eviction (from a rental property) from your principal residence you need to submit the following:

An ORIGINAL (do NOT submit a copy) current pending or actual eviction notice that bears the notarized signature of the landlord. The eviction notice must state the current amount past due and the current due date of the past due amount. The eviction notice must also include the landlord’s name, address and phone number. Note that a past due rent notice that does not specifically state the landlord’s imminent intent to initiate eviction proceedings does not fulfill this requirement.
A copy of the applicable current lease

If you are applying for a hardship distribution for prevention of foreclosure on the mortgage of your principal residence you need to submit the following documents:

A current foreclosure or intent to foreclose notice. The foreclosure notice must state the current amount past due and the current due date of the past due amount. Notice must also include the mortgage holder’s name, address and phone number. Note that a past due mortgage statement that does not specifically state the mortgage holder’s imminent intent to initiate foreclosure proceedings does not fulfill this requirement.

If you are applying for a hardship distribution for payment of tuition and related educational fees for the next 12 months of post-secondary education (does not include books or student loans) for you, your spouse or any of your dependents you need to submit the following:

A copy of a current tuition bill that includes the school’s name, address, and telephone number
For tuition expenses pertaining to a spouse or dependent (if documentation is not already on file in the Fund Office) you must also furnish proof of dependency such as your marriage document, your child’s birth certificate, adoption papers, or guardianship papers. You must furnish original county certified documents, copies will NOT be accepted.

If you are applying for a hardship distribution for medical expenses that are less than two years old for you, your spouse, or your dependent (to the extent not covered by insurance) you need to submit the following:

Copies of current itemized medical bill(s) indicating the current amount(s) past due. Note that “balance due” statements from the provider or notices from collection agencies do not fulfill this requirement.
Copies of the explanation of benefits from the insurance carrier(s) indicating what portion of each itemized charge that insurance has paid.
If you did not have any insurance at the time the bill(s) were incurred, you must submit that in writing.
For any medical expenses pertaining to a spouse or dependent (if documentation is not already on file in the Fund Office) you must also furnish proof of dependency such as your marriage document, your child’s birth certificate, adoption papers, guardianship papers. We may also require copy of your most recent tax return listing that individual as a dependent. You must furnish original county certified documents, copies will NOT be accepted.

If you are applying for a hardship distribution for the payment of burial or funeral expenses for your deceased parent (or parent-in-law), spouse, child, or dependent you need to submit the following:

An original certified death certificate
Copies of current itemized bills relating to the funeral expenses which reflect the outstanding balances
For funeral expenses pertaining to your (or your spouse’s) deceased parent, you must furnish an original county certified copy of your (or your spouse’s) birth record reflecting the name of the deceased as your parent.
For funeral expenses pertaining to a spouse or dependent (if documentation is not already on file in the Fund Office) you must also furnish proof of dependency such as your marriage document, your child’s birth certificate, adoption papers, guardianship papers. We may also require a copy of your most recent tax return listing that individual as a dependent. You must furnish original county certified documents, copies will NOT be accepted.