A 2011 IRS Form 1099-R must be completed for each Participant receiving a distribution, even if the distribution was a direct rollover to an IRA account or another qualified retirement plan. This includes any distribution made on behalf of retired, deceased or disabled participants.
Please return the completed 1099-R PARTICIPANT PAYOUT INFORMATION sheet to us no later than January 23, 2012 to 1099r@trpcweb.com, so that we may prepare the 1099-Rs and related forms in a timely manner.
If there were no distributions made during 2011, no action is required on your part.
In July and October of 2010, the DOL issued regulations aimed at improving the transparency of fees and expenses associated with employer-sponsored retirement plans. The regulations issued in July – under ERISA section 408(b)(2) – create rules for disclosures made to plan sponsors by service providers, and the regulations issued in October – under ERISA section 404(a)(5) – establish a series of participant disclosures that must be made in plans that allow participant direction of investment.
Custom Tailor Your Benefits Package
A Flexible Spending Account (FSA) allows an employee to set aside a portion of his or her earnings to pay for qualified expenses as established in the cafeteria plan; most commonly for medical expenses but often for dependent care or other expenses. Money deducted from an employee’s pay into an FSA is not subject to payroll taxes, resulting in a substantial payroll tax savings to the employer and participating employees.
A superior retirement plan can help attract and retain talented employees by promoting an employer’s commitment to helping their people achieve long term financial security. TRPC supports Plan Sponsors and Financial Advisors with professional tools, platforms, service, and consulting expertise to create and manage customized retirement plans and benefits packages. TRPC's model is that of a team working to help Plan Participants build wealth for retirement. We contribute technology and professional resources to positively impact the outcomes employees seek.
After entering your User ID and Password, select the “Sponsor” role from the “Select Role” drop down box and then click on the “Login” button to access the Sponsor Demo Site.
