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RETIREMENT PLAN ELECTION FORM (For employees hired/eligible on or after Aug. 1, 2005) You will have 120 days from your full time date of hire to complete and return this election form to the Human

How to fill out retirement plan election form

How to fill out a retirement plan election form:

1. Obtain the form: The retirement plan election form can usually be obtained from your employer's human resources department or through the retirement plan administrator. Make sure you have the latest version of the form.
2. Read the instructions: Before filling out the form, carefully read the instructions provided. The instructions will guide you through the various sections of the form and provide important information on how to properly complete it.
3. Personal information: Begin by providing your personal information, such as your full name, address, date of birth, and social security number. This information is necessary for the plan administrator to accurately identify you and process your request.
4. Eligibility: Check if you meet the eligibility requirements for the retirement plan. This can include factors such as age, length of employment, or any other specific criteria outlined in the plan's rules. If you are unsure, consult with your employer or the plan administrator.
5. Choose a plan option: The retirement plan election form usually provides different plan options to choose from, such as a traditional pension, a 401(k) plan, or an individual retirement account (IRA). Consider your financial goals and retirement objectives before selecting the plan option that best suits your needs.
6. Contribution amount: Indicate the amount you wish to contribute to the retirement plan. This can be a percentage of your income or a fixed dollar amount. Be aware of any contribution limits set by the plan or the Internal Revenue Service (IRS).
7. Beneficiary designation: Designate beneficiaries who will inherit your retirement plan assets in the event of your death. It is important to keep your beneficiary designations up to date as life circumstances change.
8. Submitting the form: Once you have completed all the required sections of the form, review it carefully for any errors or omissions. Sign and date the form where indicated. Keep a copy for your records and submit the original to your employer's human resources department or the plan administrator.

Who needs the retirement plan election form?

1. Employees: Any employee who is eligible to participate in an employer-sponsored retirement plan will need to fill out the retirement plan election form. This includes full-time, part-time, and certain categories of temporary employees.
2. New hires: When joining a company that offers a retirement plan, new hires often need to fill out the retirement plan election form to indicate their contribution preferences and beneficiary designations.
3. Existing plan members: In cases where the retirement plan options or contribution amounts change, existing plan members may be required to update their information by submitting a new retirement plan election form.
4. Individuals nearing retirement: Individuals approaching their retirement age may need to fill out the retirement plan election form to specify their plan options and start preparing for their retirement income stream.

It is important to consult with your employer, financial advisor, or the retirement plan administrator for specific guidance on who needs to fill out the retirement plan election form in your particular circumstances.

For pdfFiller’s FAQs

What is retirement plan election form?

Retirement plan election form is a document that allows individuals to choose their retirement plan options, such as contribution amount, investment choices, and beneficiaries.

Who is required to file retirement plan election form?

Any individual who is eligible to participate in a retirement plan offered by their employer is required to file a retirement plan election form.

How to fill out retirement plan election form?

To fill out a retirement plan election form, individuals must review the options provided, make their selections, and submit the form to their employer or retirement plan administrator.

What is the purpose of retirement plan election form?

The purpose of the retirement plan election form is to allow individuals to customize their retirement plan to best suit their financial goals and needs.

What information must be reported on retirement plan election form?

Information such as contribution amount, investment choices, beneficiary designations, and any other plan options must be reported on the retirement plan election form.

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