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Once Principal Financial Group has been notified of your exiting employment with Reliant, you will generally have a 60 day window to select what you would like Principal to do with your 401(k) balance. The Principal Client Contact Center 1-800-547-7754 can advise you of your options. They are available Monday-Friday from 7:00am Eastern time to 9:00pm Eastern time. You have 3 Options: Roll it Over, Stay with Principal, Cash it out. If you do not make a selection in that 60 day window Principal will do one of 2 things:
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When you exit employment with Reliant, your 401(k) will be 100% vested, which means you get to keep all of the money you invested, plus 100% of the employer match.
Here are some things to consider:
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- A Direct Rollover into another Retirement Account has no tax consequences
- Rollovers can be processed online through the "Distributions" tab or Principal's Client Contact Center 1-800-547-7754 can mail them to you (sometimes email or fax them) to you may also be an option)
- All your money stays in one place, so it's easier to track as well as to know how much you have set aside for retirement
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The Principal Client Contact Center 1-800-547-7754 can advise you of your options. They are available Monday-Friday from 7:00am eastrnEastern time to 9:00pm Eastern time. You can also review the "Ddistributions" tab of your online account at Principal.com. The Distributions tab will be available as soon as Reliant notifies Principal of your termination. This usually occurs withinRelaint usually gives termination notice to Principal within 10 days of your final paycheck. (If you'd like to have ushave Reliant notify Principal of your Termination sooner - please contact Barb Seckler at 407-671-9700 ext 108 ). |