Access funds in your supplemental retirement accounts

April 14, 2020

COVID-19 Update
Access 403(b) and 457(b) Funds

The Coronavirus Aid, Relief, and Economic Security (CARES Act) has temporarily relaxed restrictions on loans and withdrawals from certain retirement accounts if you are facing financial hardship caused by the COVID-19 pandemic.

The following changes apply to the University of Arizona’s 403(b) and 457(b) plans. They do not apply to the Arizona State Retirement System or Optional Retirement Plan.


  • The total you can withdraw from all your eligible retirement accounts combined has been increased to $100,000.

  • If you take a withdrawal before age 59½, the 10% tax penalty and 20% mandatory withholding are waived.

  • Following a withdrawal, you may make a tax-free rollback into your plan within three years to replace the funds withdrawn.

  • You have the option to spread taxes on the withdrawal over three years (Please consult with a tax advisor for guidance).


  • Until September 22, 2020, you may borrow 100% of your vested funds up to $100,000.

  • If you already have a loan, you can request to suspend repayments for a year.

Learn more about these options


403(b) - Fidelity Investments

Visit Fidelity's website

Nick Maly

Chad McLain

403(b) - TIAA

Visit TIAA's website

Thomas Whisenant

Julie Flores

457(b) - Nationwide

Visit Nationwide's website

Klark Krauter