Misc.
Gross up?
Increasing the amount of the withdrawal to the necessary amount to cover the taxes so the participant can receive the requested net amount
How long can I pay my loan for?
1-5 years
My daughter has unreimbursed medical expenses. What documentation do I need?
EOB, itemized bill, PCA/FSA statement for each claim.
Where can I obtain a statement of my RSP to send to my attorney?
MyLife > Wealth > More > Online/Custom Statement
Your right/ownership of company match & Retirement plus contribution
Payment timing? (Check & Direct Deposit)
Check - mailed after 3 business days 7-10 to receive
Direct deposit - 3-5 business days
Interest Rate?
Established monthly 3pm CST on 1st business day of the month. The rate is based on prime rate plus one as published on the last business day of the previous month in the Wall Street Journal.
Hardship Withdrawal Taxes
10% Federal (can defer)
state if applicable
may incur 10% early withdrawal penalty
What is a QDRO?
Qualified Domestic Relations Order - court order for child support, alimony, or martial property that gives an AP the right to receive some or all of a participants RSP
Company Match
2 year cliff
I just left the company and received a letter saying my account is going to be paid out. Why is this happening?
balance under $1,000
I recently repaid my loan. Will there be a fee if I take another loan? Can I take a loan right away?
$100 loan fee taken from vested account balance.
30 day waiting period
Will my contributions be suspended?
Contributions are no longer suspended after taking a hardship withdrawal
My ex-spouse is suppose to receive a portion of my RSP. Who can help with that?
QDRO team
I'm rehired after 2 years. What happens to my employer matching contributions?
Unvested money can be reinstated
How long can I keep money in the plan?
Until you reach 72, you will begin receiving RMD.
Can I add an extra $50 per pay check to my current loan payment?
Loan repayments are fixed for the duration of the loan.
Heart Withdrawal
Participants on military leave and resulted from the HEART Act
I have a QDRO being pending. What type of transaction can I make right now?
Fund transfer, reallocations, investment election
I'm recently rehired after 7 years. What happens to my unvested money?
Forfeited
Can I request the rollover check go directly to the IRA?
Checks are only mailed to the address on record.
How can I payoff my outstanding loan balance?
Electronic loan prepayment or mail Loan Payoff form with money order, certified check, cashier check
What are the reasons I can take a hardship withdrawal?
unreimbursed medical
tuition
eviction/foreclosure
purchasing a home
I'm an AP. Will I be penalized for taking a withdrawal? Taxes?
The 10% early withdrawal penalty will not apply. Still subject to federal and state if applicable.
Retirement Plus
6 year graded