The URS site will be unavailable Saturday (6/6/2020) at 8:00 am to 4:00 pm and Sunday (6/7/2020) at 7:40 am to 4:00 pm due to system maintenance. We appreciate your patience.

Coronavirus-Related Withdrawals From URS Savings Plans

The CARES Act allows penalty-free coronavirus-related withdrawals of up to $100,000 from a URS Savings Plan for qualifying members.

To qualify, you must:

  • Be diagnosed with COVID-19 by a test approved by the CDC;
  • Have a spouse or dependent diagnosed with COVID-19 by a test approved by the CDC; or
  • Experience adverse financial consequences as a result of: (1) being quarantined, furloughed, or laid off, or having work hours reduced due to COVID-19; (2) being unable to work due to lack of child care due to COVID-19; (3) being unable to work due to closing or reducing hours of a business you own or operate due to COVID-19; or, (4) other factors as determined by the Secretary of the Treasury.

The total amount you can withdraw is limited to $100,000 across all of your retirement plans and must be made before December 31, 2020. The federal income tax associated with the withdrawal may be paid over three years, beginning with taxable year 2020. The distribution may be repaid, in one or more contributions, to an eligible retirement plan within three years of distribution.

Withdrawals from your 401(k) may only be made from vested account balances attributable from employee elective deferrals (but not earnings on those elective deferrals).

Download the Coronavirus-Related Distribution Form at myURS to request a distribution under this provision.