Withdrawals*

You can withdraw money from your account balance if you encounter a serious financial hardship. Before making a hardship withdrawal, (also called an "unforeseeable emergency withdrawal"), you must exhaust other options.

Your benefits office must approve all hardship withdrawal requests. You can complete the Unforeseeable Emergency Withdrawal Application form and email it to lovec@detroitmi.gov. Call 313-224-3312 for guidelines and instructions.

*Taxes: The money you take from your retirement account will be taxed as income. You may also need to pay a 10% federal penalty tax if you're under age 59½. If required by law, Vanguard will withhold some taxes for you.