Retirement Plan Participants

A Plan Participant is anyone who falls into one of the following categories:

  • An employee who has met service requirements (with or without a balance)
  • A terminated employee who has a balance in the Plan
  • The beneficiary of a deceased employee who still has an account in the Plan

Employees can be a Plan Participant without making any contributions.

After becoming eligible, you are considered a Participant and must be counted as such.  Employees who never work 1000 hours in a “plan year” are usually not eligible to participate. Once eligible to participate, the Plan Sponsor/Employer will have responsibility to enroll that employee into the plan (if a 401(k) or be responsible to provide employer contributions when necessary.

Plan Participants often request the following services and forms:

  • Participant loan assistance
  • Loan calculations and all necessary applications
  • Distributions due to:
    • Termination of employment
    • Death
    • Disability
    • Retirement
    • QDRO

Please go to “Resources” page to view forms.

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What our clients say

“The team at Benefit Equity continually exceeds our expectations. Their focus on superior client service and creative thinking adds real value for our clients…and they are a pleasure to deal with and take pride in their work. In the past we have worked with other TPAs who charge a lot more for a reduced level of service. We would recommend BEI in a heartbeat.”