New 401(k) Coronavirus-Related Distributions
Monday, April 20, 2020
We hope you and your loved ones all safe, healthy, and well.
For many of us, we’re adjusting to a “new normal” as our jobs, families, and lives are impacted by COVID-19. If you’re feeling uncertain about what’s next and how to manage your money, know you’re not alone.
The Plumbers Local Union No. 1 Employee 401(k) Savings Plan (Plan) is here to help. Our continuing goal, as always, is to help you save for the long term so that you can have a secure retirement. However, we recognize that you may need to prioritize managing your short-term Financial needs in the current situation. And, if that's the case, we’re here to provide you with important information regarding the new Coronavirus-Related Distribution and Minimum Required Distributions.
The Board of Trustees made changes to the 401(k) Savings Plan to allow members easier access to their individual retirement savings during the COVID-19 pandemic. These changes will be available for processing by Prudential Retirement on Friday, May 1, 2020. Consequently, we ask that members please wait until May 1st to inquire about individual withdrawals related to COVID-19. CLICK HERE for additional information.
Please note that the Fund Office will NOT be able to assist you with your Prudential questions and/or requests for CRD Applications. All questions and/or requests should be directed to Prudential directly at http://ua1.retirepru.com/ or call Prudential Retirement at 877-PRU-2100 (877-778-2100). Representatives are available weekdays, from 8 a.m. to 9 p.m. ET. An automated voice-response system is available 24/7.