At Millennium Trust, we take great pride in offering every client the administrative and custodial services they need to save time and money. When the service option is an Automatic Rollover, we are the preferred choice that honors the needs of the plan sponsor and the integrity of the former employee. Our solution makes it fast and simple for employers to protect former employees' retirement savings, and for those employees to take over responsibility for their
self directed IRA with a reputable trust company.
Through the Economic Growth and Tax Relief Reconciliation Act of 2001, or EGTRRA, the Internal Revenue Code was amended to allow plan sponsors to create IRAs for former employees with balances less than or equal to $5,000. The amendment gives a plan sponsor flexibility to effectively outsource these participant accounts to qualified IRA providers – saving money, time and valuable personnel resources while preserving tax-deferred retirement savings for former employees.
For more information about safe harbor requirements for Automatic Rollovers,
click here. To receive our Automatic Rollover
E-Kit,
click on the link found on the right or please contact Terry Dunne at 630-368-5675.
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Automatic Rollover E-Kit
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