Get the free Rollover/plan-to-plan transfer election - CUNA Mutual Group

ROLLOVER/PLAN-TO-PLAN TRANSFER ELECTION Retirement Plan Services P.O. Box 2978 5910 Mineral Point Road Madison, WI 53701-2978 Phone: 800.999.8786 Fax: 608.236.8019 www.benefitsforyou.com INSTRUCTIONS

How to fill out rolloverplan-to-plan transfer election

How to fill out rolloverplan-to-plan transfer election:

1. Obtain the necessary forms: Contact your current retirement plan administrator or custodian to request the appropriate forms for a rolloverplan-to-plan transfer election.
2. Review the instructions: Carefully read the instructions provided with the forms to understand the specific requirements and deadlines for completing the rolloverplan-to-plan transfer election.
3. Provide personal information: Fill out the required personal information, including your full name, address, social security number, and other identifying details as requested on the forms.
4. Identify the current retirement plan: Indicate the name and details of your current retirement plan, including the plan administrator/custodian, account number, and any additional information required to accurately identify the plan.
5. Specify the new retirement plan: Provide the necessary information about the receiving retirement plan, including the plan name, administrator/custodian, account number, and any other required details.
6. Determine the transfer amount: Determine the amount or percentage of funds you wish to transfer from your current retirement plan to the new plan. Include this information on the forms.
7. Review and sign the forms: Carefully review all the information you have provided on the forms to ensure its accuracy. Once verified, sign and date the forms as required.
8. Submit the forms: Follow the specific instructions provided by your current retirement plan administrator or custodian on how to submit the completed forms. This may involve mailing them to a specific address or submitting them electronically.
9. Monitor the transfer: After submitting the forms, keep track of the progress of the transfer. Contact both your current and new retirement plan administrators or custodians to ensure the transfer is completed successfully.
10. Update your records: Once the transfer is complete, update your personal records to reflect the change in retirement plans, including updating any beneficiary designations if necessary.

Who needs rolloverplan-to-plan transfer election:

1. Individuals changing jobs: If you are leaving your current job and joining a new employer, you may need to decide what to do with the retirement funds in your previous employer's plan. A rolloverplan-to-plan transfer election may be necessary in this situation.
2. Individuals seeking to consolidate retirement accounts: If you have multiple retirement accounts from various employers or other sources, you may consider consolidating them into one plan. A rolloverplan-to-plan transfer election can help you streamline your retirement savings.
3. Individuals looking for investment flexibility: Some retirement plans may have limited investment options or high fees. By transferring funds to a new plan, you may gain access to a wider range of investment options or lower fees, providing increased flexibility for managing your retirement savings.
4. Individuals nearing retirement: If you are approaching retirement age, you may want to consolidate your retirement savings and make necessary adjustments to your investment strategy. A rolloverplan-to-plan transfer election can assist in this process.

For pdfFiller’s FAQs

What is rolloverplan-to-plan transfer election?

The rollover plan-to-plan transfer election allows individuals to transfer funds from one retirement plan to another without tax consequences.

Who is required to file rolloverplan-to-plan transfer election?

Individuals who wish to transfer funds from one retirement plan to another are required to file the rollover plan-to-plan transfer election.

How to fill out rolloverplan-to-plan transfer election?

To fill out the rollover plan-to-plan transfer election, individuals must complete a transfer form provided by both the sending and receiving retirement plans.

What is the purpose of rolloverplan-to-plan transfer election?

The purpose of the rollover plan-to-plan transfer election is to allow individuals to move their retirement funds between plans without incurring tax penalties.

What information must be reported on rolloverplan-to-plan transfer election?

The rollover plan-to-plan transfer election must include details such as the amount of funds being transferred, the names of the sending and receiving plans, and the individual's personal information.

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