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Automatic Rollover Solution Retirement plan providers contemplating the elimination or amendment of the mandatory distribution provisions in their 401(k) and other qualified retirement plans will find this unique Automatic Rollover Solution of great interest.
The Newkirk solution identifies terminated low-balance participants and prepares and distributes required notices. If participants take no action within a 30-day (or longer) period, Newkirk utilizes the technology platforms of Wealth Management Systems Inc. (WMSI) to facilitate IRA openings with a major financial institution. The Automatic Rollover IRA satisfies the DOL safe harbor requirements. This solution also offers clear and concise program materials that providers can distribute to plan sponsors explaining our solution to the mandatory rollover dilemma as well as the attributes of the program. Plan sponsors interested in enrolling in the program will need
to sign an IRA provider agreement with the Newkirk/WMSI financial
services partner to participate in the program and to comply with
the safe harbor provision. Click here to request more information on Newkirk’s Automatic Rollover Solution. Or contact Karen Leary by phone at 518-862-3325. |
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The
Newkirk Automatic Rollover Solution offers an end-to-end
solution for meeting DOL/IRS rules governing the mandatory distribution
of low-balance accounts from 401(k) and other qualified retirement
plans.
