If you have additional questions, please do not hesitate to chat or contact the Participant Services team at service@leadingretirement.com.
You can access our online enrollment guide PDF guide and Video here
Yes, you must register for account access by using the online registration wizard to set up your account.
You will be able to register for your online account even if your employer does not provide you with a plan ID and passcode.
Unless your employer has provided you with an employee ID number, your employee ID number is your social security number by default.
No, you will not be able to register for account access until you are eligible.
Yes, your company will be notified when a new enrollee is registered through a weekly payroll report.
Eligible participants who register for their account utilizing the online enrollment process will not need an enrollment form and will be able to make beneficiary designations online.
Your employer will send out an Annual Plan Notice and 404a5 Participant Fee Disclosure outlining the required annual information.
The online enrollment is for all participants who have yet to register for access to their participant account.
This information is not required if you are already registered and have access to your participant account.
Yes, you can add or update beneficiaries in your online account by going to the "My Profile" tab at the top right of the web page and then to the "Beneficiaries" tab.
Please be advised that the distribution provisions of your company’s retirement plan may affect the circumstances under which you can take money from your account while you are still employed. Review your plan Summary Plan Description (SPD) or Plan Highlights to confirm your available distribution options.
As a terminated employee, you are able to take a lump sum taxable distribution or tax exempt rollover distribution.
The process for taking a distribution is simple! Please request your plan's forms by emailing service@leadingretirement.com. Once the forms are received, the distribution process typically takes 7-10 business days.
Please note: Unless your employer has provided you with an employee ID number, your employee ID number is your social security number by default.
When you upload your distribution form to our secure online portal, LRS receives it and begins processing your distribution. If your form is incomplete or additional information is needed, an LRS team member will contact you so that we can process your finds as quickly as possible.
You will be taxed on a payment from the Plan if you do not roll it over. If you are under age 59-1/2 and do not do a rollover, you will also have to pay a 10% additional income tax on early distributions (generally, distributions made before age 59-1/2), unless an exception applies. However, if you do a rollover, you will not have to pay tax until you receive payments later and the 10% additional income tax will not apply if those payments are made after you are age 59-1/2 (or if an exception applies).
A. If you leave your job and have an outstanding 401(k) loan, you can transfer the funds to an IRA or your new employer's 401(k). As long as the loan repayment was in good standing, the employer will rollover your retirement funds net of the outstanding 401(k) debt. You will have until the tax due date to pay off the 401(k) loan balance.
B. If you quit or get terminated from your job, you can cash out your net outstanding balance minus any unpaid 401(k) loan. If you have an unpaid 401(k) loan, you must repay the amount before the following year's tax deadline. If you defaulted on the 401(k) loan prior to the termination date, the employer will subtract the defaulted amount from the participant's vested account balance and cash out the balance. The defaulted loan amount is recognized as an early distribution, and you must pay tax on the unpaid amount as well as a 10% penalty if you are under the age of 59 ½.
You may roll over the payment to either an IRA (an individual retirement account or individual retirement annuity) or an employer plan (a tax-qualified plan, section 403(b) plan, or governmental section 457(b) plan) that will accept the rollover. The rules of the IRA or employer plan that holds the rollover will determine your investment options, fees, and rights to payment from the IRA or employer plan (for example, no spousal consent rules apply to IRAs and IRAs may not provide loans). Further, the amount rolled over will become subject to the tax rules that apply to the IRA or employer plan.
If the deceased is your spouse, ownership of the account is transferred to you, and you can distribute or rollover the funds. If the deceased is not your spouse, other circumstances may apply.
