Tag: retirement plan rollovers

The platform helps users locate former 401(k) accounts, matches them to IRAs at leading financial institutions and initiates rollovers on their behalf.

A participant has until the due date (with extensions) for filing his federal income tax return for plan loan offset amounts resulting solely from the participant’s termination of employment or the employer’s termination of the plan.

The model notices have been updated to reflect changes made by the SECURE Act.

The program offers participants one-on-one sessions with a financial planner to discuss their various distribution options.

“There can be huge consequences from making the wrong decision, ranging from taxes and penalties to higher fees and risky or poor performing investments," says Ric Edelman, with Edelman Financial Engines.

EBRI found a significant difference in retirement deficits when comparing the current environment where defined contribution plan participants rollover their assets versus a hypothetical state where workers never rollover their DC assets.

The Rollover Wizard tool comes two years after Unified Trust created its Managed Rollover Solution, and analyzes benefits, fees and service models. 

Banc West Investment Services asked the Securities and Exchange Commission to clarify its stance on the potential conflict between FINRA suitability determinations called for by rollover decisions and, on the other hand, SEC demands to forward customer checks within a day of receipt.

Users can now push their distribution data that was collected in Wolters Kluwer's Distribution Tracking Software into ftwilliam.com's 1099 software, which automatically populates the data appropriately into 1099 forms.

The IRS has issued two modified safe harbor explanations which take into consideration changes related to qualified plan loan offsets and other statutory changes.

Unforeseen negative tax consequences often hit job changers when they decide to move money from their previous employers’ retirement plans without sufficient know-how; in an extensive new report, the GAO recommends employers and regulators provide far more support for plan participants.