Step 1: Click on the button to get the paperwork for MassMutual Ascend.
On page 1, fill in personal information and contract number.
On page 2, select Full Surrender if you would like to withdraw the funds and close the account or Partial Withdrawal and amount.
Select Distribution to owner/annuitant/participant.
On page 3, you will need to make a selection for tax withholding. They will automatically withhold 20% for a 403(b) account. A withholding of 10% for an IRA is standard.
Under Payee/Payment Instructions, Section A, select Check via mail or fill in your banking information if you would like the funds directly deposited to your bank account.
On page 4, make sure the box “I waive my 30-day consideration period.” is checked or they will hold your request for a month before processing.
On page 5, select the reason, usually reaching the age of 59 ½ or being separated from service.
On page 6, sign and date in the box for Owner/Annuitant/Participant.
On page 7, you do not need to have this form notarized.
Step 2: All transactions must be approved by the school district’s third-party administrator (TPA). The TPA is for the employer at which you were working when you set up the account.
Check the email you received for your school district’s third-party administrator so you can follow their procedures.
If you have questions about their forms or their procedures, please contact them directly.
Step 3: Submit all forms to the TPA.
Step 4: Wait one week to follow up with the TPA.
When they approve your request, they will forward the paperwork to the company.
Step 5: Wait one week and follow up with Mass Mutual Ascend by calling 800-854-3649. You will need to contact them as they will be setting up your withdrawal.