RP Basics
$23,000
What is the annual employee contribution limit? (Not including catch-up)
The participant account balance can be found on this page.
What is the participant home page?
This is the website you would direct participant to to request a loan.
What is nationwide.com/realtirement?
These system(s) can be used to check the status of a distribution.
What is MyPlanParticipant, AWD, and SmartDesk?
This is the standard processing time for distributions.
What is 5-7 business days once IGO?
This role in a retirement plan helps do the administrative work for the plan.
What is the Third Party Administrator?
What is transactions?
This is the maximum loan amount a participant can take
What is 50% of account balance, not to exceed $50,000, in a rolling calendar year. Minus any outstanding loan balances.
This type of distribution is typically taken once the participant reaches age 73.
What is RMD? (They may delay this if they are still working and are not a 5%+ owner of the company)
This system is used for any password resets or online account setups.
What is COAST?
The employer providing a Retirement Plan can also be called.
What is Plan Sponsor?
To determine if a plan requires spousal consent on distributions, you would navigate here.
What is services under the plan or distributions tab?
This is where you could go to locate plan specific information on a loan.
What is the loans tab under the plan in SmartDesk?
This is the standard tax rate for withdrawals.
What is 20% Federal Income Tax?
These questions are REQUIRED for full verification and cannot be replaced with a second level.
What is full name, full SSN, and DOB?
The entity that holds and invests assets is referred to as
What is the recordkeeper? (Nationwide)
This is where you would find the participant's hire date.
What is participant summary?
This is the key information you should provide to a participant requesting the loan.
What is applicable fees, interest rates, minimum and maximum loan amounts, and processing times? (Must get at least 3 to get points)
This type of distribution is not taxed.
What is a rollover?
Name at least 2 things we may transfer a call to RRG for.
What is enrollment, fund education, inbound rollovers, or ProAccount?
This type of account allows for participants to invest in stocks, bonds, or other sorts of investment vehicles.
What is a Self-Directed Brokerage Account?
To determine what types of distributions a plan offers, you would navigate here.
What is transaction reasons or the plan document?
This is the process for a loan payoff.
What is provide payoff quote to participant and participant must send in CC/MO/PC with payoff form enclosed to Nationwide with plan ID in memo line of check?
This may happen when a participant leaves an employer and has less than $7,000 in their account.
What is a force out?
This is how we find the first 3 digits of the plan for Special Instructions.
What is lookup the plan number in Salesforce or double click the TPA in SmartDesk and find the branch ID?