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Retirement Providers

The Key to the Uncashed Checks Dilemma

This White Paper details why uncashed checks have become a problem for plan sponsors, how widespread the problem is, how the problem can affect plan sponsors and how automatic rollover IRAs are the best solution to the problem, all based on guidance and rulings from the DOL, with respect to the Employee Retirement...

White Paper
10 minute read

Automatic Rollover Comprehensive Solution

PROVIDING A TURNKEY AUTOMATIC ROLLOVER SOLUTION Millennium Trust launched its Automatic Rollover Solution in 2005 when the Department of Labor (DOL) published their final Automatic Rollover Safe Harbor Regulations. Today, our solution has been implemented by just under 100,000 plan sponsors, providing them a simple,...

Fact Sheet
2 minute read

Searching for Missing Participants

OVERVIEW Millennium Trust’s comprehensive search and outreach procedure is able to locate an overwhelming majority of missing or non-responsive account holders in order to reunite them with their retirement accounts. IDENTIFYING MISSING ACCOUNT HOLDERS At Millennium Trust, individuals are considered "missing...

Fact Sheet
2 minute read

Top 5 Reasons to Select Millennium as Your IRA Provider

DO WHAT YOU DO BEST, AND PUT US TO WORK ON THE REST. 1. INDEPENDENT AND SECURE Millennium Trust is an independent custodian. In our view, the objective is simple: focus on the client. We do not compete for your client’s business. Despite difficult economic times, Millennium Trust continues to grow. Today we administer...

Fact Sheet
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

60-Day Rollover Program

If an IRA owner receives a distribution of an alternative asset from the current custodian, they generally have 60 days from receipt of assignment to roll over the asset into a new IRA without tax implications. To help assist investors who have alternative assets, Millennium Trust Company ("Millennium") developed a...

Fact Sheet
2 minute read

Abandoned Plan Solution

Significant business events, such as bankruptcies, mergers, acquisitions and business closures often result in employers - particularly small employers - abandoning their retirement plans (e.g., 401(k) plans). The Department of Labor (DOL) Abandoned Plan Program provides a set of rules in response to the growing...

Fact Sheet
2 minute read

Automatic Rollover Solutions for Governmental Plans

OVERVIEW Most government entities offer retirement plans to their employees. But what happens to those employee retirement accounts when employees leave? While many choose to rollover their account on their own, there are a large number of missing and non-responsive participants whose accounts remain in the retirement...

Fact Sheet
2 minute read

Automatic Rollover Solutions for Not-for-Profits

OVERVIEW Most not-for-profit organizations offer retirement plans to their employees. But what happens to those employee retirement accounts when employees leave? While many choose to rollover their account on their own, there are a large number of missing and non-responsive participants whose accounts remain in the...

Fact Sheet
2 minute read

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
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