The mystery of the 401k rollover process is debunked… Here is our quick checklist:
1. The HR department for the prior employer has paper work that can initiate the 401k fund transfer process. Some employers have services like HEWITT online. Hewitt online can initiate a disbursement of the 401k funds through the online menus.
2. Work with our 401k Rollover Specialist on the following issues-
• Fill out the paperwork for your own account separate from the employers 401k account. NOTE: this is like starting a checking account. (very simple process)
• Work with our 401k specialist to fill out the disbursement paperwork from the prior employer OR work with our specialist to choose the HEWITT or like online program to initiate a fund disbursement.
3. The account will be opened from the paperwork completed. The account is opened with NO out of pocket initial deposit.
4. The disbursement of funds is recieved from the prior employer 401k into the new account.
5. The process of the rollover is now complete. It is just that simple.
Working with our 401k specialist will position you with no surprises. Give us a call.
This process is truly simple and positions you to be in control of your funds.