Participant Retirement Questions

Yes a participant can contribute to both their employer’s retirement plan and a personal IRA. However, depending on your income, all or a portion of your IRA contribution may still be taxable in that year.

Roth contributions are salary reduction contributions made to the plan that are made on an after tax basis (the income and gains that are earned on Roth contributions are not taxed).

Most plans will allow you to leave your vested balance in the plan if your vested account balance is greater than $5,000.  However, the Summary Plan Description will dictate the exact vested balance that will allow you to leave your balance in the plan.

To apply for a loan, a Participant must either submit a Loan Application and fax it to (925) 956-0506 or go online to www.pensiondynamics.com and request a loan electronically. Pending loans are pulled each morning by 7 am. Anything posted after 7 am will be processed the next business day.

Loans will normally be funded within 3-5 business days upon receipt by Pension Dynamics. Loans will not be approved unless the requested loan satisfies the requirements of the IRS and the Plan document.

The following fees will apply to all loans:

• Loan Origination Fee - $125.00
• Re-amortization Fee - $100.00 (only applies after return from LOA and re-amortization is requested instead of make-up payments are made)
• Quarterly Maintenance Fee - varies for each plan, check the Plan Administrative Policy Regarding Plan Expenses
• Overnight Next Day Delivery Fee - $25.00

Note: We recommend that you review the Plan Administrative Policy Regarding Plan Expenses for the applicable loan fees. Funds from “Paperless Loans” cannot be wired or electronically deposited to the Participant’s checking account. By cashing the check, you agree to the terms and conditions of the loan repayment guidelines.