TABLE OF CONTENTS
General Distributions
NHC ESOP Distributions
CSR does not need to create a ticket using the Distribution Request template.
For these, use Distribution - General to code the ticket and document the conversation.
These distributions are not processed via Freshdesk.
Daily Distributions
CSR sends ppwk and creates Freshdesk ticket using Distribution Request template
Status set to closed after we send paperwork
Assigned internal is Lynda
Status will remain open if we use Distribution Request- Variable template
Status will remain open if we use RMD Only Request template
Ppwk rec’d -- Lynda verifies ppwk and preps for processors.
- If errors: once Lynda receives the paperwork and sees the need for correction, she will add a note to the ticket and attach the “bad” paperwork to the new note, assign the ticket internal to the CSR, and status set to waiting.
Once that corrected information is received
If it's additional documents, the CSR will document the conversation in the ticket and keep the status as waiting.
If it's verbal information needed only, the CSR will document the conversation in the ticket and change the status to open.
Lynda will correct the paperwork with red, if needed, on the PDF and attach it to the original note on the ticket and continue the process.
Once complete
Status changed to process
Assigned internal is Kimberly (Rebecca for NHC)
2nd distributions
Lynda will review the original request.
- If the paperwork is up to 6 months old or less, create a new distribution ticket using the Distribution Request: 2nd Distribution ticket template. Add the original signed paperwork to the new ticket as a note. Since the paperwork was signed within 6 months, we won't need new paperwork if the participant wants funds the same way they requested.
- If the paperwork is older than 6 months, create a new distributions request ticket using the normal Distribution Request ticket template. We will need new paperwork signed before we can process the request. Have a CSR call the participant.
- For all situations, please review the previous ticket to confirm who we should be reaching out to; the participant or the RM.
Processors post the trade. Once completed... (For DB, KB will forward to Trust Ops. Follow the workflow here: Distributions - Defined Benefit and or Cash Balance)
Status changed to verify
Assigned internal changed to Alex T (Michael R for NHC)
Processors verify distribution. Once complete
Status changed to trade and export to innopay
Assigned internal changed to Jelitta (Rebecca R for NHC)
One complete, the next day processors export and close ticket.
CSRs are to use the “Show activities” button to view ticket activity for transaction date (check mailed or ACH initiated) if needed to communicate to participants. The same day the ticket closed is the day the check mailed or the ACH was initiated.
Hardship proof that may not be 100% clear is reviewed by Rebecca Rice
Attachments that are too large will be saved here: Pending Hardship Documents
Please use the share link function for these and paste the link in the FD ticket or in the request to compliance.
For more information about proof for home purchases: Hardship Distribution Required Documentation for Purchase of Primary Residence
Hardship workflow
RPS TS receives distribution ppwk and proof - adds to the request ticket.
Use the Hardships - Assign to RR for proof review scenario automation to assign to RR.
Daily Ops reviews, states & approved/denied plus the amount in the ticket.
Use the Hardships - Assign to JS after proof review scenario automation to assign to Jamari.
Ticket status is now Open and falls into the regular distribution workflow.
If there is a Defined Benefit/Cash Balance distribution that is NOT NSA or TN Vein, please let Zerconia know before processing. This process has NOT been updated for all plans.
This process above is not for DB/Cash Balance plans distributions -- the process still goes through trust ops for those distributions. For the workflow, select the link above.
Force Outs
No checklist needed!
For Cash Out Lump Sum Force Outs, use the Distribution - Force Out template.
For Rollovers to an IRA (Millennium Trust, etc.), use the Distribution - Force Out to Inspira Financial template.
Force Out instructions for DB plans are listed here.
Directed (FBO) Accounts
Add -Directed to subject line after Distribution Request
Will follow same process as Daily distributions up to Kimberly's section.
Kimberly will email the RM with info regarding the distribution.
The RM will email Trade desk to request the $ funds to be raised in cash (as calculated by KB).
Once funds are received, Trade desk will let RM know.
RM will let Kimberly know.
Kimberly will continue her normal process from there.
Special Distributions
ACP/ADP Testing Refund Distributions
After administration has completed testing for the audit plans, an email with the prior year contribution letters, testing results and/or refunds will go out. A ticket should be created ASAP if there are any testing refunds to be distributed. These refunds will follow the same procedure as regular distributions. Use the testing refunds template, paste the body of the email in the ticket, and attach the testing results to the ticket.
Once created, the ticket will be assigned to Kimberly as Process Distribution.
Installment/Scheduled and Variable Distribution requests
What are they?
Scheduled distribution: automatic recurring distribution request setup up in Relius according to the elections made by the plan participant. These are set up days prior to the date of deposit elected to ensure the deposit occurs on or before the deposit date elected.
Variable distribution: this election allows a plan participant to request a distribution via mail, email, or phone without completing distribution paperwork each time.
Handling the call
Ptp calls in to get started with a scheduled distribution or to get set up to take variable distributions
CSR verifies ptp and makes sure ptp qualifies for distributions
After verifying, CSR uses New Installment or Variable Distribution Set-up Request ticket template.
Clearly notate which the ptp requested in the subject (remove installment or variable).
If the ptp requests a variable distr - please create a distr request ticket and CLOSE it. We will process once ppwk is signed.
Add if the ptp wants funds ACH'd or not, and how ppwk was sent to the ptp.
Paperwork comes back
If the ptp wants an installment, RPS TS will review the ppwk, add a note tagging Jelitta/Rebecca, attach the ppwk to the note and close the ticket.
-> installment requests require a schedule, so we need an amount, frequency and date for deposit
How to tell if a participant has a scheduled distribution set up in Relius.
Census - Transaction Setup - Distributions - Recurring - Partial
If they don't have a scheduled distribution set up, this is what you'll see.
If the ptp elected for variable distributions, RPS TS will review the ppwk, attach and open/process the closed distribution request ticket created at the time of this original call.
-> variable requests are upon request, so we don't need an amount, but we do need the To Be Determined box and the Upon Request box checked
If the ppwk has errors, RPS TS will ask CSR to get updates or verify request. Once complete, next step is below.
***A participant can elect to have both scheduled distributions and variable distributions elected. Just combine requirements for both sections above.
***A participant can elect to have their RMD paid as annual installments. Make sure it is clearly noted in the ticket. To complete the ppwk, the Amount line needs the $ amount per deposit and (RMD) listed. Select Gross/Net and everything else needed for a dist. This form should be completed each year after we have received updated RMD amounts.
If the ptp wants 20% FTW, no further documentation is required, they can complete the section above on the ppwk unless it's for an RMD. At that point, we need the W4R,
If the ptp wants any other FTW than 20%, please have them complete the W4R and clearly note in the ticket.
RPS TS will save the ppwk in the correct folder on the L Drive: L:\Alloca\Installment and Variable Election Forms.
Jelitta/Rebecca will set up scheduled distribution in RA and note the ticket once complete.
Requests to STOP a scheduled distribution or distribute their remaining balance
If someone calls in with a request to stop their scheduled distribution, either:
- search for the installment request ticket, add a note notifying the correct processor letting them know the ptp has requested to stop scheduled distributions or,
- if there is no ticket, add a note tagging the correct processor on the ticket made for the current call.
If someone calls in with a request to distribute their balance using the installment form, no additional form is needed. If someone is on the last distribution of their account, we will charge $5 for the distribution. Make a note for daily ops regarding the $5 distribution fee. No additional paperwork is needed unless the request doesn't alight with the signed form.
Stop Pay/Reissue - Distributions
Stop-pay reissue can be requested after 15 business days -- unless the check was issued to the wrong address or there is a known issue.
Create the call using the Stop Pay – Reissue template. Assign it to Jelitta Stansberry.
For NHC - ESOP and 401K requests, an automation will assign the ticket to Rebecca R
For NHC - KP requests, an automation will assign the ticket to Keri T
In the description box, list:
Reason for request
Requestor of stop pay and/or reissue – if this was via email, paste the email in the ticket.
Add the “payment history details” screen from Innopay into the description box (post 2019 distributions) or the information from the Disbursement Inquiry – Transaction screen InnoTrust (pre 2019 or loans).
Verification of address
Add any changes that need to be made to the reissued check.
There will be two tags in the ticket “stop-pay” & “reissue.” Remove one of those tags if one or the other isn't requested. For instance:
If I lost my check and I’m calling for a new one, we will have to stop payment on that check before we reissue, so you’d leave both tags there on the ticket.
If TTC has my check (return mail) and the address was spelled wrong, that’s just a reissue (since we have the check). For this one, you’d remove that “stop-pay” tag and leave the “reissue” tag.
We can also re-mail the check to the new address. Make sure the address is updated in Relius for 1099r purposes.
RPS TS will review incoming documents for completion. Then attach completed ppwk & assign to Jelitta/Rebecca as Open.
Force Outs and Refund Checks
Once per quarter, most of our plans process force outs for terminated plan participants with balances $1-$5k as an automatic rollover to Inspira Financial we send via wire.
After operations prepares the report, it's emailed to Customer Service. A CSR will generate a ticket under the Plan's working contact; the ticket subject is usually Force Out Letters Mailed MM/DD/YY. This ticket will have:
The report including plan participants name, SSN and balance.
The letter mailed to the plan participants.
The date the balances will be forced out.
After 30 days, anyone left with a balance will be forced out to Inspira Financial. Operations will provide an updates list of names that will be forced out. If there are any plan participants that sent us distribution paperwork before the deadline, they will not be forced out.
If any plan participant calls after being forced out, the CSR should:
Review the tickets under their name in Freshdesk. If they can't find a ticket, then
Review the tickets under the Plan's working Freshdesk contact.
If their name is on the list, confirm in InnoPay their balance was sent to Inspira Financial.
Be careful, if there's no ticket in Freshdesk it could be a Testing Refund Distribution. You can confirm this type of distribution in a similar manner by checking the Plan's working contact in Freshdesk; the ticket subject is usually Testing Refund Distributions.
FAQs
In-Kind
Should never be done
Unless: FBO account - unique assets or we do not custody the assets
Additional deposits after full lump sum terminated distributions
If requested by the plan participant or the relationship manager, follow the steps below.
1) Find the correct distribution request ticket in Freshdesk.
2) Check the balance in Relius.
3) Review the distribution ppwk. Do they want the funds in the same manner as the previous request?
No: We need new ppwk. Start a new distribution ticket.
Yes: Has the ppwk been signed within the last 6 months?
No: We need new ppwk. Start a new distribution ticket.
Yes: Add a note in the ticket.
Please process the balance left in the account. The plan participant has confirmed they want the funds in the same manner as the original distribution in this ticket. If the request was noted/recorded in a different ticket, add that link or ticket # to the note.
Change the status to Process and Assign the ticket to Kimberly (Rebecca for NHC).