Form DRS-RK MS501 Dcp and Jra Withdrawal - Washington

What Is Form DRS-RK MS501?

This is a legal form that was released by the Washington State Department of Retirement Systems - a government authority operating within Washington. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form DRS-RK MS501?
A: Form DRS-RK MS501 is a form used to request a withdrawal from the Washington state Deferred Compensation Program (DCP) and/or the Judicial Retirement Account (JRA).

Q: What is the Washington state Deferred Compensation Program (DCP)?
A: The Washington state Deferred Compensation Program (DCP) is a voluntary retirement savings program for state and local government employees.

Q: What is the Judicial Retirement Account (JRA)?
A: The Judicial Retirement Account (JRA) is a retirement savings program specifically for judges and justices in Washington state.

Q: How do I withdraw from the DCP and JRA in Washington?
A: To withdraw from the DCP and JRA in Washington, you need to complete and submit Form DRS-RK MS501, following the instructions provided on the form.

Q: Are there any penalties for withdrawing from the DCP and JRA?
A: Withdrawals from the DCP and JRA may be subject to taxes and early withdrawal penalties. It is recommended to consult with a tax advisor for guidance.

Q: Can I withdraw from the DCP and JRA at any time?
A: Generally, you can withdraw from the DCP and JRA upon termination of employment or retirement. There may be specific rules and restrictions depending on your situation.