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Distributions the easy way.
Now you can turn to SunTrust to handle the retirement plan distribution requirements of retiring or terminating employees. IRA rollover options, tax considerations and investment decisions can be overwhelming for participants and can generate a lot of detailed questions and paperwork that your Human Resources department may not have the time to handle. Instead, give employees SunTrust's toll free numbers to call for all their rollover needs. Let SunTrust handle the questions, paperwork, and compliance concerns.
Distribution Support Services comes standard with the SunTrust Employee Benefit Solutions daily retirement plan. Our team of Retirement Specialists will take care of all of the time-consuming details. You can direct your employees to the Rollover Solution Center and we'll manage the distribution process, meet the strict deadlines for notification, and ensure compliance with the IRS and applicable federal regulations relating to notices and distributions.
Consider the benefits.
- Reduce the time your Human Resource department devotes to administering distributions and dealing with questions from terminated plan participants.
- Let SunTrust create and mail specific distribution notices and forms to your participants.
- Give your employees access to the expertise of SunTrust Retirement Specialists, who are specially trained and registered.
- Reduce your company's risk regarding legal changes related to distributions and using the most up-to-date forms.
- Ensure compliance with all IRS requirements including new "Special Tax Notices".
- Offer plan participant pre-retirement seminars taught by SunTrust retirement experts to assist participants in planning for their financial future in advance.
- Provide participants with retirement planning information and tools via the SunTrust website, www.SunTrust.com/retirementsolutions.
How it works.
- SunTrust will supply a flyer/brochure/or other item that you can provide to terminating employees informing them of the many advantages of the SunTrust Rollover Solution Center. This item will provide the toll-free number and internet address. Plan Sponsors will be given a secure ID and password to access the online "Authorization for Distribution" form. Just inform us when an employee terminates using the electronic method and we'll ensure that the proper forms are produced and mailed in a timely fashion. We'll also determine when a participant can expect payment based on the options selected. If you prefer a more automated solution, SunTrust can automatically rely upon the payroll data and provide you with a report of all newly terminated participants based on the frequency that works best for your plan. Once approved, SunTrust will mail the appropriate distribution packages to all eligible and approved participants.
- Find out how your company can benefit from Distribution Support Services. For details on how convenient and easy it can be, call 1-800-453-4015 and a Retirement Specialist will assist you.
- The SunTrust Rollover Solution Center staff will provide hands-on, personalized service, guidance, and education to participants about their rollover options, Monday through Friday, 8:30 a.m. to 5:00 p.m. Eastern Time, excluding national holidays. Spanish speaking representatives are also available.
- The SunTrust team of Retirement Specialists has over 100 years of combined expertise in retirement plans, investing, and financial planning. Let SunTrust guide your retiring and terminating employees to better understand their distribution options.
For assistance during regular business hours, call 1-888-816-4015.
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