Distribution Options
Are GMC (disaffiliated) ppts able to take a distribution, if so how can they request it?
Yes, they can request an AFB.
What is the processing time for an AFB distribution?
7-10 business days
W4P
How can a ppt request a Hardship Withdrawal, are they able to do it online?
No, we can mail, or send a blank Hardship Withdrawal form through PDF or e-signature.
Can a ppt opt into QLAC AFTER they've started LSRI payments?
No, when they opt out it is irrevocable.
PPT has verified a BA distribution request that was secured via LN KBAs. Could you please confirm the expected timeframe for when the payment will be received?
3-5 business days (because supervisors will need to complete a security review)
Can a ppt elect no federal withholding for a Hardship Withdrawal or RMD? Why or why not?
Yes, because these distributions are non-periodic and not rollover eligible.
What are the three pieces of personal information needed when registering or resetting a password in BA?
Last name, SSN, and date of birth
If a ppt have both HRZ and PIP balances from the same plan sponsor, how many active loans can they have at one time?
Two
What is the timing for initial cash installment payments?
Initial Retirement Income Payments are transmitted on the third business day of the effective month. If sent by EFT, it will be deposited in their bank account 1-3 business days. If sent via check, it will print a day after payemnt is reflected in Omnipay.
What is the standard taxation percent for non-US ppts without a treaty?
30%
This tool is designed to help ppts project their retirement benefits based on options they choose.
Retirement Benefits Projection Tool