About Millennium Trust Company

  • Respected custodian in the retirement services industry
  • Industry leading provider of customized retirement services and custody solutions
  • Comprehensive operations and client servicing environment
  • Advanced technology that facilitates efficient and secure transmittal of data and funds


Services Provided

  • Execute benefit distributions to participants via check, wire or ACH
  • Withhold, remit and report all necessary federal and state taxes
  • Facilitate and remit third party administrator (TPA) benefit distribution fees, as applicable


Process Overview

  • Sign Benefit Distribution Services Agreement with Millennium Trust
  • Establish custody account to receive participant funds, process distributions and administer program
  • As distributions are requested, TPA uploads EZ Benefit Distribution worksheet via Millennium’s secure portal providing all applicable data and direction to process payments
  • Concurrent with data transmittal, funds are transferred (wire, ACH or check) to Millennium Trust where they are deposited into the custody account
  • Millennium Trust processes distributions and forwards funds according to directions received
  • Millennium Trust remits all applicable federal and mandatory state withholding and administers all applicable tax reporting (e.g.1099Rs)
  • On a quarterly basis, Millennium Trust remits to TPA, any benefit distribution fee payments



  • There will be a nominal fee per Benefit Distribution
  • Distribution to the participant by wire transfer is subject to an additional $30 fee