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Employee Retirement Plan FAQ’s

Here are some retirement plan FAQ’s & answers you may find helpful, because managing your retirement accounts is important for your future.

    What’s included in the Retirement Plan FAQ’s & Answers for Employees?

    • Benefits of a 401k Plan
    • Distribution
    • Enrollment
    • Investment Options
    • Plan Website Access
    • Saving
    • Taxes
    • Withdrawals

    Benefits of a 401(k) Plan

    How does a 401(k) plan work and why should I participate?

    Your 401(k) allows you to postpone a portion of your salary for retirement savings, called a pre-tax deferral. You may begin contributing when you meet the plan’s eligibility conditions. The funds you contribute are usually not subject to federal income taxes until you take a withdrawal at retirement. In addition, your employer may provide matching or profit-sharing contributions on top of any money that you contribute, which can boost your savings and provide a bonus to your account.

    Distribution

    Can I request a stop or reissue of a disbursement that I have not received?

    Typical processing time for distribution checks is 7-10 business days. If you requested a disbursement more than 10 days ago, you may contact our team at 800.406.401K to request a new check.

    How can I see the breakdown of my distribution check? What is the Roth cost basis and Roth start date?

    This information is available on the website, www.Alliance-Plan.com.

    What address is my disbursement check being sent to?

    Your disbursement check will be issued in accordance with the direction you entered on your form or on your online distribution request.

    Can my personal advisor call in to initiate a rollover for me?

    Yes, but we must first speak to you and receive permission to speak to your advisor.

    What is the status of my disbursement request?

    Please call our team at 800.406.401K to review the status of your request.

    Enrollment

    Am I eligible to employee in my company's plan?

    Becase retirement plan eligibility varies, please refer to your Summary Plan Description (SPD) which describes your specific plan’s specifications. Contact your HR representative for more information on obtaining the SPD and how to get started.

    What is a ROTH contribution and is it right for me?

    Roth contributions are after-tax deferrals, so the money you deposit into the plan will grow tax free because you have already paid income tax up front with your paycheck. We recommend that you contact a financial advisor to assess whether Roth is the right decision for you.

    How do I enroll?

    Enroll at www.Alliance-Plan.com Select New User to begin.

    If I am ineligible to contribute to the plan, can I still roll funds from a previous employer into this plan?

    Generally no, because you must be eligible to roll money into the plan.

    How to I opt out of my retirement plan?

    Log into your account and change your deferral election to $0 (navigate to Manage -> Investments and select the Contributions tab). This will be effective with your next payroll cycle.

    Investment Options

    How do I get information about the investment options in my plan?

    Detailed investment information is available on the website. You can click on any investment name to open the corresponding hyperlink with electronic fund fact sheets and other information. In addition, if your plan utilizes an investment advisor, you may contact that person for details about which investments may be right for you.

    Investments

    Why did my balance go down?

    Since there are many factors that can affect your account balance, including market volatility and plan fees. You can review your account statement under Documents & Reports -> Reports and account activity under Manage -> Transaction History.

    Plan Website

    How do I access my plan’s website?

    Go to www.alliance-plan.com or you can click ‘Account Login’ at the top of this website. If you are newly eligible, click New User to enroll. If you have previously enrolled, enter your Username & Password to log in.

    Saving

    How do I change contributions and move money?

    Please refer to the Online Change Instructions, located at Documents & Reports -> Forms & Notices on the website.

    What is the most I can contribute to my account each year?

    The annual limit often changes from year to year. You can view the current year and past years’ limits here: Annual Compensation and Contribution Limits for Qualified Retirement Plans.

    Taxes

    How do I receive my IRS Form 1099-R?

    All 1099-R tax documents get mailed no later than January 31st following the year in which you received a distribution. If you have not received your 1099-R by February 14th, contact us at 800.406.401K, and we will issue you a new copy.

    Withdrawal

    How do I withdraw my money if I am no longer employed?

    If you are no longer employed, you may request a distribution on the web. Online Distribution Instructions are available under Documents & Reports -> Forms & Notices.