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Retirement Providers

Cash Sweep Program

Millennium Trust provides a cash sweep program that offers daily liquidity and competitive interest rates. In a cash sweep program, your idle cash is automatically transferred into an interest-bearing, bank demand account. Your account type determines which cash sweep vehicle is used. FDIC INSURED SWEEP PROGRAM IRAs...

Fact Sheet
1 minute read

DOL Requirements Affecting Retirement Plans

Many employer-sponsored retirement plans have missing and non-responsive participants, which can increase plan administration costs each year. The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) amended the Internal Revenue Code to help reduce these expenses by allowing plans to establish IRAs for...

Article
5 minute read

Fiduciary Requirements Affecting Governmental Plans

Many governmental retirement plans have missing and non-responsive participants, whose accounts remain in the retirement plan, increasing plan sponsor liability and plan administration costs each year. To help reduce these expenses, the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) amended the...

Article
2 minute read

Rollover Distribution from Terminated Plans

For terminating plan distributions, the Department of Labor (DOL) has issued separate guidelines on the steps that plan sponsors must take to search for lost participants in Field Assistance Bulletin No. 2014-01. This advice relates only to terminating defined contribution plans. Generally, the notice details what the...

Article
3 minute read
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