Participant Site
Where on the participant site can a participant view the distribution notice?
What is...
>My Account->Forms & Communication
>My Account->Distribution Termination
>My Account->Distribution In-Service
>My Account->Distribution Hardship
What is...
>Participant Site
What system is used to mail documents to participants?
What is...
>Chorus
What is the elective deferral limit that represents the most that an employee can defer to a 401(k) plan during a year?
(Hint: Named after the relevant tax code section)
What is...
>402(g) limit
If the participant is MFA registered, where would they update their login password?
What is...
>Clicking on their name on the top right->My Profile
>Clicking "Forgot Password" at the login page
What system do we use to get the plan forms, such as distribution forms, to send to participants?
What is...
>Sponsor Site
Including processing time, how many days does it take for a participant to receive a mailed form/document from Ascensus?
What is...
> 24 business hours to prepare and up to 10 business days to be delivered
This is the number of days after a quarter end that Ascensus sends statements to participants?
What is...
>15 calendar days
Where on the participant site can a participant find more detailed information of the investment fund?
What is...
>Company Details->Investments
In what system can you determine if the plan allows for UPS faster delivery?
What is...
>Ark
>Participant Site
What system can you use to ensure we have a complete Summary Plan Description (SPD) for the plan?
What is...
> Cliff (complete SPD)
Name one way an employee can request a distribution or loan.
What is...
>Online through the Participant site
>Form
>Calling Participant Services
>Through Plan Administrator (if plan allows)
Where on the participant site can you see if the participant is set-up for paper or paperless statements?
What is...
>Clicking on their name on the top right-> My Profile-> E Delivery Settings
What system is used to determine what the required minimum distributions (RMD) amounts are for the participant?
What is...
>Sponsor Site
How would you request to mail a form/document to a participant?
What is...
>Refer work item via Chorus
Which type of consent does not require the employer to take any action when a loan is requested? The request will automatically process on the 2nd business day
What is...
>Negative Consent
Where on the participant site can a participant make changes to their future contribution elections?
What is...
>My Account-> Manage Contributions
What system do we use for PAi calls?
What is...
DCA
How can a participant add a beneficiary, if the option is not available online?
What is...
>By returning the Beneficiary form they received either by email (Salesforce) or mail (Chorus)
What is a forfeiture?
What is...
>Contributions made by an employer that the participant did not become vested for, therefore the employer received those funds back.
Where can a participant find plan highlights?
What is...
>Company Details-> Plan Overview
Which systems provide information on the participant's contributions?
What is...
>ARK
>Participant Site
What is the fastest way to send a Loan Payoff form?
What is...
Sending an email via Salesforce to registered email address
What are Ascensus' Core Values?
What is...
>People Matter
>Quality First
>Integrity Always