If You Leave the University
You are fully “vested” in all of your Supplemental Retirement & Savings Plan account balances. Therefore, if your employment with Boston University ends, you will be entitled to receive payment of your accounts as follows:
- You may elect to receive a lump-sum distribution of the money you have invested in your accounts.
- You may leave funds on account for distribution at a later date (no later than April 1 following the calendar year in which you reach age 70½). You may not make contributions directly to your accounts.
- You may roll over all or a portion of your account into an IRA or other plan that will accept the rollover, provided you meet federal requirements.
The rights of your spouse also apply if you elect an annuity form of payment for benefits due when you terminated your employment with the University.