Your RCH Portability Options
Regardless of your situation or your account balance, RCH stands ready to help you consolidate your retirement savings into an active retirement savings plan at your current employer, or into an existing IRA account. RCH Service Center Representatives are the focal point for delivery of our dedicated, expert support to plan participants and to RCH safe harbor IRA accountholders.
Here's a quick recap of your RCH portability options:
Former Employee, Under $5,000 in Plan
If you are an exiting employee and your plan balance is less than $5,000, you may receive a letter from your plan sponsor, explaining your options. Read the letter carefully in order to understand your options, which typically include:
- Choose to rollover your funds to a new, employer-sponsored plan that will accept the funds or to a new or existing IRA.
- Take no action, and allow your funds to be moved to a Safe Harbor IRA, selected by your plan sponsor.
- Take a cash distribution from your plan.
If your plan balance is automatically rolled over to an RCH safe harbor IRA, simply contact the RCH Service Center to get the education and assistance you need to move your retirement savings forward.
Former Employee, Over $5,000 Balance in Plan
If you are an exiting employee with more than $5,000 in your former employer's plan, you may also receive a letter explaining your options, which include::
- Stay-in-plan: keep your funds invested in your former employer's plan
- Rollover your plan balance to a qualified employer plan that will accept the funds, or to a new or existing IRA
- Take a cash distribution of some or all of your account balance
New or Existing Employees, Any Plan Balance
If you are a new or existing employee, and your plan sponsor works with Retirement Clearinghouse, you may have access to the RCH Assisted Roll-In℠ service. The RCH Assisted Roll-In SM provides a quick-and-easy way to consolidate retirement savings accounts, saving you both time and money, and eliminating the hassle of having to manage multiple retirement accounts.
With the RCH Assisted Roll-In℠, you can:
- Consolidate plan balances from a former employer's qualified plan into your current employer's qualified plan.
- Consolidate plan balances from a qualified IRA in your current employer's qualified plan.