Why rollover small balance accounts?
Small balance accounts can be a drain on resources, impairing effective plan administration and exposing you to additional fiduciary risks. Automatic Rollovers were created to provide an easy way for retirement plans to remove costly, small balance accounts while preserving the tax-deferred status of their retirement savings.DOL Requirements
In order to roll over distributions from your plan to an IRA, the DOL requires that the initial investment product must be designed to minimize risk, preserve principal, provide a reasonable rate of return, and maintain liquidity.
Our automatic rollover solution allows you to choose between our FDIC-insured, Cash Sweep Program or the Prudential Guaranteed Fund (PGF), a stable value fund offered by The Prudential Insurance Company of America.Cash Sweep ProgramPGF
Why use an Automatic Rollover Solution?
Our solution has been implemented by over 55,000 retirement plans, providing them a simple, secure, and client-friendly solution that is easy to use for both the plan and former employees.
Questions? We're here for you.
Want to know more about our Automatic Rollover Solution? Contact Kevin Clark or Karin Stouffer.