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.

Why business owners are happy when employees experience the BEI Difference? Watch here…

What our clients say

“Benefit Equity is more than just a Third-Party Administrator to me. I feel like they are my friends and become friends to my clients. They partner with me, which helps me grow my business as well as truly take care of the clients I refer to them. Their people make the difference. Everyone I’ve worked with always is professional, knowledgeable, and responsive.  With complex Plan take-overs, I know I’m receiving a true consultative approach from them.  They ask the hard questions and back it up with solutions the IRS and Department of Labor would approve.  

Thank you to the BEI team for all you have done for me and my clients.”