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Automatic Rollover Comprehensive Solution
Our Automatic Rollover process is efficient and client-friendly. The IRAs we offer are designed to comply with the DOL’s Safe Harbor Regulations, while actively engaging and empowering participants on their journey toward retirement. Supporting Plans and Participants on the Road to Retirement Millennium Trust helps...
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...
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...
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...
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...
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...
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...
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...
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...
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...