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| Mandatory & Terminated Plan Rollovers |
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Our state-of-the-art Mandatory and Terminated Plan Rollover solution makes it easier than ever to provide plan sponsors with a comprehensive solution to address mandatory rollovers and rollovers resulting from plan terminations.
Working directly with you, WMSI automates the exchange of participant data to:
- Open IRA accounts automatically with participating IRA providers including: The Bancorp Bank, E*Trade Financial, Matrix/ MG Trust Company LLC, Merrill Lynch, Millennium Trust Company
- Fund IRAs directly
- Batch process rollover distributions
- Generate reconciled reports of all fund activity
- Support paperless processing – no distribution forms or IRA applications to handle – as well as regular processing cycles (annual, semi-annual or quarterly)
- Provide written agreements with IRA provider
Simply offer this program to your plan sponsors and WMSI will take care of the rest, including:
- Providing and processing all enrollment agreements
- Offering a choice of 5 IRA providers
- Batch processing distributions and automating all IRA account openings
- Providing a report of all reconciled funding activity
All this while you generate a revenue share on rollovers processed through the platform.
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