Acronyms/Definitions
Status Received when we have everything we need to process
What is IGO?
This is located in lower right hand corner of Form
What is the Version Date?
Participant residing in this type of state will systematically withhold state taxes
What is a Mandatory State?
Vesting is required on form when participant has funds in ER sources.
What is PM687=P (PFRK)?
This should always be completed in PI to verify there are no duplicates or additional forms needed.
What is SSN search?
Status Received when missing information that is required for Processing
What is NIGO?
This piece of information is optional in the Participant Information section.
What is Date of Birth?
This is the default Federal Tax Withholding Percentage on Non-Top Hat money
What is 20%?
Name one source type that vesting is always prefilled on form as 100%
What is Deferral, Rollover, Safe Harbor Non-Elective/Match, and/or QNEC/QMAC.
This Plan will require each money type to be processed in separate folders.
What is a Combo Plan (PM722=Y)?
Third Party Administrator
What is TPA?
Selection must be made to determine what transaction will be processed. (i.e. T404, T444)
What is Type of Distribution?
This is the default Federal Tax withholding for Top Hat 457 money when old form version is received
What is 25%?
This is where to go in Omni to review current balance and vesting
What is the PFI screen?
This type of business may require adjusted trade date.
What is Registered Business (PM686=Y)?
The authorized person that can sign forms and make decisions regarding the plan
What is ER or Employer?
One Distribution Method must be selected for request
What is Full or Partial Withdrawal?
This is the default Federal Tax withholding for Top Hat 457 money for distributions up to and including $1 Million on form Version 12/13/21
What is 22%
This is where the ER sources are listed for Vesting Updates when applicable
What is the Vesting Schedule(s)?
This will be completed and inserted into PI task prior to set up of transactions
What is PI Checklist?
Rollover of funds NOT allowed
When PM687=P, this is not required on form
What is Participant's signature?
This box on Main tab is selected when overriding Federal Tax Withholding
What is the Mandatory withhold does NOT apply box?
This is where the Vesting Hierarchy can be found
What is the Vesting Job Aid?
This is the transaction type for Termination/Retirement and Disability
What is a T404?