Loans & Distributions
Plan Sponsors have the flexibility to elect how to manage the distribution procedure for the plan. The best and most secure choice is the Financial Partner's On-Line Loan and Separation of Service Distribution Solution.
The on-line loan and distribution solution has numerous controls and authentication processes to assist in preventing a fraudsters from accessing accounts and initiating loans or distributions.
How does the on-line solutions work? (steps may very slightly based on Financial Partner)
When is a Paper Form required?
Paper Forms are only required for Certain Distributions: These include:
Nationwide Clients Assets held outside a Record-keeping Portal Solution
Attainment of Early or Normal Retirement Age
Attainment of age 59 ½
Direct Rollover Account
Qualified domestic relations order (QDRO)
Required Minimum Distribution(RMD)
When can I request Paper Forms?
Plan Sponsor can request Paper Forms any time. See below