Transamerica Qualified Disaster Relief Distributions

Due to the recent wildfires in Southern California, Pepperdine's retirement plan through Transamerica now offers Qualified Disaster Relief Distributions (QDRDs) to help impacted employees. QDRDs allow participants to withdraw up to $22,000 from eligible accounts without incurring the standard 10% early withdrawal penalty, even if they are under age 59½. Additionally, the tax burden can be spread over three years, and participants have up to three years to repay the distribution, if desired, restoring their retirement savings.

To access this benefit:

• Eligible employees can log into their Transamerica portal by navigating to the Employee Self-Service tab within WaveNet and then selecting the My Retirement button.
• Within the Transamerica portal, select the Pepperdine University Retirement Plan and hover over Documents & Forms section and select Forms then Distribution from the menu.
• From here, "Qualified Disaster Recovery Distribution" can be selected.
   

By offering this provision, Pepperdine, in partnership with Transamerica, strives to provide vital support to our employees during a time of unique need, helping them navigate the financial challenges caused by a crisis.