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403(b)
1. Who is the custodian for my 403(b) Account?
Millennium Trust is an independent trust company that provides administrative and custody services on behalf of individual investors. We are located in Oak Brook, Illinois and have over
70,000 clients located throughout the United States. We are pleased to custody your 403(b) Account. Your 403(b) Account will help preserve tax deferred retirement savings while protecting your assets from additional penalties due to early withdrawal.
2. How is my 403(b) Account invested?
We offer an extensive array of mutual funds.
3. How do I establish an account?
Call us at 1.800.258.7878 ext 5956 or email 403b@mtrustcompany.com.
4. Can I make additional contributions?
Yes, you may roll over other 403(b) accounts into your 403(b) account. Your employer can make periodic contributions to your Millennium Trust 403(b) account.
5. Can I take distributions?
Distribution allowances are determined by your employer’s plan but generally distributions cannot be made until you reach the age 59
1/2 There are special circumstances (like death or disability) that would allow you to take an early distribution and not be assessed the 10% additional tax penalty.
6. What is the cost?
Millennium Trust will charge a one-time fee to establish a 403(b) account and an annual fee for custody and investment services. The fees for your 403(b) account are modest and are listed on the 403(b) fee schedule.
7. How is the beneficiary(ies) determined?
You should specify your beneficiary designation(s) by completing our application materials. You may designate one or more persons or entities as beneficiary of your 403(b) account.
8. How can I access information on my account?
You will receive quarterly account statements or you can select web access enabling you to view your account. If you have a broker, web access can be granted to that individual as well.
9. Who can I contact with questions?
We have a dedicated client service team available to answer all questions regarding your account. The client service representatives are retirement specialists and trained on IRS rules and requirements. For more information, contact a representative at 866.384.1815 or email
403b@mtrustcompany.com.
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