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Distribution of Benefits

Enjoy The Rewards

You may take money out of your retirement savings when your employment at Stanford ends. If you are a TDA participant you may withdraw funds when you reach age 59-1/2 even while employed at Stanford. Distributions before age 59-1/2 may be subject to federal and state penalty taxes. There are a variety of forms of payment to choose from, and you should consult a tax advisor before applying for benefit distribution. Funds from SCRP are not eligible for age 59 1/2 in-service distributions.

Applying For Benefits

You must apply for distribution of benefits in order to receive payment. The timing of your application depends on which plan you have. If you are a SRAP participant, you must contact Stanford Benefits at least 60 to 90 days before the date you want payments to begin. TDA and SCRP participants must contact their investment company(ies) after terminating from Stanford.

Taking Distributions Before Age 59-1/2

There are several scenarios that may call for taking distributions before you reach retirement age. Certain rules apply when you wish to take a distribution from your plan. These rules vary and depend on your age and employment conditions. Contact Stanford Retirement Manager Services for more information.

When Employment At Stanford Ends

All plan contributions stop at the time your employment with Stanford ends. You will, however, continue to receive quarterly statements, be able to direct your own investments and be subject to plan rules. When employment ends, you may:

  • Take distributions from your account balance at any time (subject to federal, Stanford and investment company rules).
  • Delay distribution of your account balance as long as it is not beyond April 1 for the year after the calendar year you reach age 70-1/2 or end your employment with Stanford (whichever is later).
  • Roll over your distribution into an Individual Retirement Account (IRA) or another qualifying employer-sponsored retirement plan that accepts transfers.
  • Recalled retirees: contact Stanford Benefits at (650) 736-2985, Option 3.

Taking Out A Loan

Loans are an important plan feature. They give you the opportunity to borrow from, and then repay, yourself. You may take out a loan against your TDA or SCRP account balance with Vanguard or Fidelity. TIAA-CREF does not permit loans.

Learn more about Taking a Loan From Your Account.

Hardship Distributions

Hardship distributions are available in limited circumstances, for example, to purchase a primary home or pay for qualified medical expenses. For more information on hardship distributions, download Retirement Plan Hardship Distributions or contact Stanford Retirement Manager Services.

Spousal Rights To Benefits

Federal and California laws guarantee certain rights to the spouses of retirement plan participants.

Learn more about Spousal Rights To Benefits.

We also have model documents for Qualified Domestic Relations Orders for TDA, SCRP and SRAP.

This Web site provides a summary of eligibility, coverage, vesting, retirement dates, payment options and other subjects. However, the official Plan Document, together with certain annuity contracts and custodial agreements with investment providers (all as amended from time to time) govern the Plan's actual operation, and the determination and payment of benefits. In the event of any conflict between the information in this retirement section of the Stanford Benefits Web site and the official Plan Document or any of the annuity contracts or custodial agreements, the Plan Document, annuity contract, or custodial agreement will govern.

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