Empower Call Model
What do we say when answering the phone?
"Thank you for calling Empower, my name is ..... How can I assist/help you today?"
When is the last day a client can withdraw their RMD for the year?
12/30/2021
When do 1099-R tax forms for 2021 come out?
End of January and/or beginning of February 2022
What button do we click to route an SR back to process?
Additional Information Required (double check where the SR is going afterwards, shown in the top left)
- If it shows a name, is that name a processor?
What must we do for every call taken?
Log the call and add detailed notes
- Experian Passed
- SR #
- Sent out forms
- Updated phone #, e-mail, address, etc
Client calls stating they want to put money into IRA related to Cares Act/Covid withdrawal, what do they need to do?
Send us the Incoming Transfer/Rollover form, mark off 60-Day Rollover and write in Cares Act withdrawal next to it.
Options to repay are on the form, Wire or Check.
When do 5498 tax forms for 2021 come out?
May 2022 (unless tax deadline is extended)
Is there an SR routing guide?
What information do we ask for when passing the client via security?
- Full Name on the Account
- Date of Birth
- Full Address on Record (zip code and all)
- Full SSN or Last 4 of SSN
If a client is taking a large withdrawal, what is one thing you could bring up?
Taking this large withdrawal will count as Income for 2021. If possible, you could take some out this year and some next year, thus the withdrawals will be coded for different tax years.
What is the last day to contribute to an IRA for 2021?
Before the tax filing deadline in 2022
When a client calls in about an SR, what are 2 things we do with the SR?
- Add comments (recorded line information as well, if needed)
- Route back the SR or Close it
What should we check for when speaking to a client?
Check:
- Benes
- Advisor on account
- TCPs
If a client is taking a large RMD withdrawal, what is one thing you could bring up?
You can ask what do you plan on doing with the RMD?
A possibility is putting it into a EIA account by investing it opposed to the low interest rate from the banks.
What is needed to do a Roth IRA Conversion and when is the last day to do it?
- Open Roth IRA Account
- Traditional IRA Withdrawal Form
- Last day = 12/27/2021 (just to leave a buffer for opening the Roth IRA account and the Withdrawal form in good order)
What information is included in the Subject Line of an SR?
Type of Request and Name of Client
- (Withdrawal Request - John Smith)
- (Letter - Susan Smith)
- (Periodic Payment Change - Joe Doe)
What options does the client have for tax withholding on withdrawals?
- For Federal = 0%, 10% or more,
- For State = depends on the state, maybe 0%, the minimum or more
Please remember to go over the options and it's completely up to the client, you cannot give any suggestions or guesses!
How does a client do a Qualified Charitable Donation (QCD) and where do you find the procedure?
Withdrawal Form and Letter of Instruction (LOI) - Same for both Premier and Brokerage
Sharepoint Guide - Charitable Distributions Guideline
Who's important Birthday is Year-End? hint:MS
Melissa's!!!
What is the routing for recording a complaint?
Participant Services > Participant Correspondence > Regulatory Complaint