(SAMPLE) - TA-Retirement
(SAMPLE: To terminated Participant)
Notice of Automatic Rollover
[Date]
[Former Employee]
[Home Address]
[State, City, Zip]
Dear [Mr./Mrs.][Last Name]
As a former employee and current Participant in our retirement plan, you are eligible to receive a full distribution of the vested account balance in your retirement savings account.
Please read the enclosed notice regarding distributions. This notice includes important information about income tax withholding and tax-free rollover rules. You will then need to complete the enclosed Distribution Request Form making your election regarding payment directions and tax withholding and return it to my attention, as soon as possible. A trustee signature is necessary to release your funds. We must receive your completed Distribution Form no later than 30 days from the date of this letter.
If we do not receive your completed distribution form within 30 days of the date of this letter, the value of your vested account balance will be distributed and rolled over directly to a Transamerica Retirement Solutions IRA for your benefit.
The amount directly rolled over to the Transamerica Retirement Solutions IRA is not subject to tax withholding. Once the IRA has been set up on your behalf you will have online access to your account at or by calling 800-755-5801. The initial rollover will be invested in the Transamerica Partners Money Market Fund. The Transamerica Retirement Solutions IRA has an annual fee of $35.00 for balances below $5000. Each quarter your account will be assessed $ 8.75 to cover the annual fee.
If you have any questions about retirement plan distributions, please call the Participant Contact Center at 800-401-8726.
Sincerely,
[Plan Trustee]
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