Automatic Rollovers | Millennium Trust Company
Automatic Rollovers

Automatic Rollover IRAs

Reduce costs and potential liabilities for employers while actively engaging, empowering, and encouraging former employees on their journey toward retirement.

Automatic Rollovers allow employers to focus on their current employees, while Millennium Trust protects the retirement savings of their former employees.  We locate, engage, educate, and encourage those former employees to actively manage their journey toward retirement.

Reconnect Plan Participants With Their Funds Using Automatic Rollovers

Since 2005, we’ve provided solutions to help retirement plan sponsors reunite their former employees with their retirement funds. Our solution is used by some of the largest recordkeepers, TPAs and plan sponsors in the industry, including about one-third of the Fortune 1,000 companies. These IRAs are designed to comply with the Safe Harbor regulation-Section 657(c) of the Economic Growth & Tax Relief Reconciliation Act of 2001.

Read Blog
Rollover Services Benefits

Automatic Rollover Benefits

Our easy and straightforward solution to removing small-balance accounts of former employees helps retirement plans:

  • Reduce costs by lowering participant counts and administration
  • Reduces potential liabilities
  • Focus more resources on its current participants

It is a simple three-step process to get started.

Read Fact Sheet

Ready To Get Started?

Three simple steps is all it takes.

x

Signing a service agreement helps ensure that accounts automatically rolled over from your plan are in compliance with the DOL Safe Harbor. It also speeds up processing times for account establishment and funding.

Access E-sign Agreement

x

Provide us your participant information using the Millennium EZ Worksheet (a pre-formatted, excel file). To help ensure the security of your data, use our secure Automatic Rollover Portal to access and upload the EZ worksheet. Participant information includes participant’s name, address, social security number, date of birth, dollar amount and plan name. With this information, we automatically open IRAs and send a Welcome Kit to each participant.

Retirement Services portal

x

The preferred methods of receiving participant funds are wire transfer or ACH, but we will also accept check(s). After the IRAs are opened and funded, we send a confirmation email to the plan sponsor or TPA.

Account funding instructions
  • Step 1: Sign Service Agreement

    x

    Signing a service agreement helps ensure that accounts automatically rolled over from your plan are in compliance with the DOL Safe Harbor. It also speeds up processing times for account establishment and funding.

    Access E-sign Agreement
  • Step 2: Provide Us Participant Information

    x

    Provide us your participant information using the Millennium EZ Worksheet (a pre-formatted, excel file). To help ensure the security of your data, use our secure Automatic Rollover Portal to access and upload the EZ worksheet. Participant information includes participant’s name, address, social security number, date of birth, dollar amount and plan name. With this information, we automatically open IRAs and send a Welcome Kit to each participant.

    Retirement Services portal
  • Step 3: Transfer Funds to Millennium

    x

    The preferred methods of receiving participant funds are wire transfer or ACH, but we will also accept check(s). After the IRAs are opened and funded, we send a confirmation email to the plan sponsor or TPA.

    Account funding instructions

Connect With An Expert

If you are an individual looking to locate an account from a former employer, please go through the Take Control of your Retirement Savings page.

Cleint Service