AUTO-ROLLOVER IRA
An eIRA Automatic Rollover provides important benefits to retirement plan sponsors and their service providers by establishing a compliant program that lowers costs and fiduciary risk.
How do automatic rollovers work?
Retirement plan rules allow for an employer to initiate an automatic IRA rollover (sometimes referred to as an “involuntary” or “force-out” IRA) for terminated employees who have not affirmatively elected to receive their benefits if their account balance is less than $7,000.
The employer must provide terminated employees at least 30 days advance notice of their right to:
Request a cash distribution
Roll over to an IRA
Roll over to a new employer’s plan
If they do not respond or make a selection, the employer may initiate an automatic rollover.
eIRA’s automatic rollover program makes it easy for employers to fulfill their fiduciary responsibilities.
eIRA’s automatic rollover program makes it easy for employers to fulfill their fiduciary responsibilities.
We set up rollover IRAs for each non-responsive participant.
We make it easy for employers to maintain a compliant process.
We search and send welcome notices to all participants.
We set up rollover IRAS for each non-responsive participant.
After the rollover, eIRA assumes all future responsibility for the account, including any notices to the IRA holder
Four Reasons to choose eIRA
as your automatic rollover partner
There is no cost to the plan sponsor or service provider.
Our process is designed to reduce employer costs, fiduciary burden, and risk.
We offer no investment products and are bias-free and conflict-free.
