Within A Calendar Year. When you withdraw funds from a 529 plan for a qualified expense, you must withdraw the money in the same year you use it. Per calendar year, often abbreviated as pcy, is a term used by insurance companies to define the time period for which certain benefits or coverage limits apply.
In this article, we’re covering medicare’s calendar year, how part a benefit periods & deductibles work, and how medigap coverage can help pay for these deductibles. Under irs rules, the pay date is the date that you have access to the funds without substantial limitation or restriction.