Consolidating Retirement Assets
Rollovers into The Plan
It is easy to consolidate your retirement accounts into the Dauphin County, PA Deferred Compensation Plan. This may simplify your finances and allow you to better monitor your retirement investments. Don't forget that Retirement Collaborative LLC also offers a free wealth management website that provides account aggregation - the ability to link and view multiple financial accounts in one place. This helps to simplify the management of your finances, especially when you have multiple retirement plans or custodians. You can learn more on the Planning page.
2 Step Process
Step #1: Distribute the money from the current custodian
The first step is to request the distribution paperwork from your previous employer's plan or IRA.
Most employer sponsored plan's have their own distribution forms that will need to be completed.
Complete the distribution paperwork.
If you need assistance completing the distribution form, send a copy of the paperwork to the Plan's investment advisory representative, Stephen Hetrick, via email or fax: 717-602-1016.
Mail or fax the distribution paperwork as directed on the form.
Some plans allow for distributions via a recorded telephone call. During the call, they will ask for how the check should be made payable and where it should be mailed to. That information is available on the Dauphin County, PA Deferred Compensation Plan Rollover Form, which can be downloaded using the link below.
Step #2: Deposit the Money into the Dauphin County, PA Deferred Compensation Plan
When you request the form from the current retirement plan, download the Dauphin County, PA Deferred Compensation Plan Rollover Package using the button below. It contains the following:
Rollover Form - The form contains the instructions on how the check should be made payable and where it should be mailed to. It also contains information on how much and what type of plan the rollover is coming from.
Enrollment Form - If you have not yet enrolled in the Plan, please complete the enrollment form so that the Plan knows how your rollover contribution is to be invested. If you have questions regarding enrolling, view our Enroll Now section.
Beneficiary Form - If you are enrolling, you will need to complete the beneficiary form. If you are currently enrolled, you may want to review your current beneficiary election. If it needs to be updated, you can use the beneficary form to make changes.
When you complete the forms, give it to HR for processing. Ideally, HR should receive this form when you are mailing the current plan's distribution form. This will allow Alerus to track the deposit.
Step #3: Check your Account
Once the rollover is complete, check your account to make sure the transfer was completed properly and that the money was invested properly.
It is important to note that the rollover will be invested in the investments you have selected for your contributions. If you would like the rollover contributions to be invested in a different manner, you should contact your investment advisor representative using the Get Help link below.
Get Help
This may all seem a little overwhelming. If you would like to discuss the pros and cons of rolling money into the Plan and have help with processing the rollover paperwork, contact Stephen Hetrick.