BASE RETIREMENT PLAN

BASE RETIREMENT PLAN 04-17-06

Employees who retire, terminate, or resign their employment with the University, regardless of age, are permitted to collect their base retirement plan accumulations as permitted by the vendors and the IRS rules.

Currently employed individuals are allowed to take in-service distributions as permitted by the Internal Revenue Service under the following situations; i.e., attainment of age 59½; disability; death; loans; or financial hardship, which covers purchase of a principal residence; avoidance of eviction from home; college tuition for self, spouse, or dependents; medical expenses; or funeral expenses of a family member.

Enacted: 9/9/37

Amended: 4/5/91, 2/7/92, 9/18/98