Living our HEART values means listening — and acting. Based on what you’ve shared in surveys, town halls, and one-on-one conversations, we’re expanding access to your 403(b) to help support you during unexpected financial needs — while still helping you plan for a secure retirement.
New Ways to Access Your 403(b)
Expanded access to your 403(b) plan through withdrawals and in-service distribution options include:
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Hardship Withdrawals: Available for IRS-approved reasons such as medical bills, eviction prevention, funeral costs and other emergencies.
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Penalty-free Special Withdrawals are available for specific personal situations such as natural disasters, birth/adoption, terminal illness and personal emergencies.
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In-service 59 ½ distribution allows employees age 59 ½ or older who are still working to withdraw from their 403(b) or roll it into an IRA.
These updates apply only to the 403(b) plan and do not affect or apply to any other benefit offering. If you are enrolled in the Cash Balance Pension Plan, your benefit will continue to grow but is not accessible until you leave or retire.
Important Considerations
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All withdrawals are subject to income tax. Depending on the option, you may be able to avoid the IRS’s 10% early withdrawal penalty.
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You are limited on the number of withdrawals per year, and amounts vary by type.
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Loans are available as another way to access your 403(b) funds. Fidelity can help you compare options.
Questions or Need Help?
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FAQs and Withdrawals Options Guide
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Call Fidelity: 800-343-0860
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Contact Texas Children’s Total Rewards:
totalrewards@texaschildrens.org | 832-824-2421 (Option 2)
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