Quick Thinking
The mandatory Federal Income Tax withholding
20%
True or False
EVERY PPT is allowed to borrow against their retirement money
False
Plan specific-depends if sponsor allows
The age at which a ppt is required to start taking RMDs
73
Shows mailing timeframes
All EASE Money Out Timeframes (FS/PB)
Requesting Money Out transactions can be done here
Withdrawals
The two types of loans
General & Residential
The Federal Income Tax withholding for RMDs
10%
Special Tax Notice (STN) - EASE
Where you would look up a Prior Statement
My Correspondence/Records
This is required to be mailed to the participants that plan to withdraw funds from their account
Special Tax Notice
True or False
A Residential loan requires paperwork
True
Purchase Contract
True or False
A ppt can opt out of Federal Income Tax withholding on their RMD
True
You should look here to find how much a ppt can put in their retirement accounts annually
Annual IRS Contribution Limits & Definitions
A ppts hire date can be found here
Inquiry
True or False
A Hardship withdrawal requires a mandatory 10% Federal Income Tax withholding
False
it is voluntary
The longest possible loan duration for a general loan
60 months (or 5 years)
The month during which recurring RMDs can not be set up
December
If you're unsure in which stage a DWE transaction is in, you can find help here
DWE - Pending Transaction Status
New Beneficiary? No Problem, let me update that here
Add/Edit Beneficiary
It allows an employer to remove an account under $5,000 from their 401k plans if the employee is separated from service
Sponsor Force Out
Where to calculate a future loan payoff
OMNI
The date in the following year after a ppt turns 73 by which they have to take their very first RMD at the latest
April 1
The best place to find the difference between a task and a form
Task Manager - Request Matrix (Full Service)
A Security Question can be added here
Notepad