Frequently Asked Questions
- How long does it take for a transaction to take place?
- How do I rebalance my account?
- I received a notification that I may incur a redemption fee. What does this mean?
- I changed my allocations, why is there still money going into my old funds?
- How do I change my future elections?
- How soon do my payroll contributions post to my account?
- How can I see gain/loss on the web?
- Why does the amount of shares I have in any one investment fluctuate?
- The ticker symbol for Metlife stable value is not a valid ticker symbol. How can I track this?
Account Details and Information
- How do I look at the transaction detail?
- I have changed my name, address, etc. How can I reflect this change on my account?
- How do I change my deferral percentage?
- When does my vesting update?
Pin and Login Information
- Why is a social security number necessary in this day of rampant identity theft? Most companies only need the last four numbers of a SSN if at all. Can this be changed?
- How do I change my password?
- How do I obtain my PIN?
- I have had failed login attempts and have locked myself out. Can you help?
Distributions, Loans, Hardships
- How can I apply for a hardship?
- How do I apply for a loan on the web?
- How do I apply for a loan via a paper application?
- I no longer work for my employer, how do I get my money out?
How long does it take for a transaction to take place?
If changes are made to your account before 3 p.m. (CST) (1 p.m. Schwab Broker Dealer plans), on a business day, the trades will be placed the same day. Once the transaction is uploaded to our system, the trades will show as "Open" in "Pending and Processed Activity". Once the trades have been placed and settled, usually the following business day, you should see the changes reflected in your account balance.
Potentially, there are a select few funds that cannot be exchanged the same day. In that case, sell trades are sent the day they are pulled with buy trades being sent once the initial sale has settled.
How do I rebalance my account?
Should you have specific investment questions, please feel free to speak with an investment advisor or your own plan sponsor.
Once you have logged into your account click on the "Rebalance Account" link under "Transactions" in the menu. From this new screen you will see where your current contributions are invested and can elect new allocation percentages. If you would like to change where your future contributions will be invested, click on the "Model Investment Choices" or “Custom Investment Election” under "Investment Choices" in the menu.
If you would like to set your account up to rebalance on a certain frequency, click on the "Model Investment Choices" under "Investment Choices" in the menu. You can then select from the Model Portfolios “Detail” and select into a rebalance cycle.
If you are interested in only moving a partial amount of money between one fund and another, you can click on the "Transfer Investments" link and move partial amounts of your balance to funds available to your plan.
I received a notification that I may incur a redemption fee. What does this mean?
You may incur a redemption fee of a certain percentage for any shares held for less than specified time period. A contingent redemption fee is a fee that some funds charge their shareholders when they redeem their shares within a specified period of time. The fee is meant to discourage short term trading.
A redemption fee is typically used to defray fund costs associated with a shareholder’s redemption. Investors should carefully consider information contained in the prospectus, including investment objectives, risks, trading restrictions, charges and expenses.
I changed my allocations, why is there still money going into my old funds?
If you have recently made changes to your account, namely, you have rebalanced your account but you may not have changed your future investment elections. Your future investment elections must be changed to change where your future contributions will be invested.
How do I change my future elections?
Once you have logged into your account, click on the "Model Investment Choices" or “Custom Investment Election” under "Investment Choices" in the menu. When the next screen pops up, you can decide what percentages and for which funds you would like to invest your future contributions in. Your elections must add up to 100% in order to submit your changes. Once the selection has been submitted you will be asked if you want to rebalance your existing account balance or only change your future elections.
How soon do my payroll contributions post to my account?
We process contributions to the plan as soon as received. In order to do so, we need a file from your employer along with a deposit to process these contributions. As soon as both of these items are received, we will process your contribution and loan payments if applicable. The trades should settle within a couple of days of receipt.
How can I see gain/loss on the web?
Once you have logged into your account, click on "Statement on Demand" under "Performance". You may then customize your dates for the specific range in question. You may also select "My Performance" under "Performance" for a quick look at all activity occurring within the specified date range. In addition, you are provided statements on a quarterly basis which provide the gain/loss information for each of your funds.
Why does the amount of shares I have in any one investment fluctuate?
Decreases in your shares can be a result of on-going plan administration fees that are charged to the plan. Total fees are billed across plan participants on a pro-rated basis. Typically fees are processed within 10 business days after the end of a quarter.
The ticker symbol for Metlife stable value is not a valid ticker symbol. How can I track this?
The MetLife Stable Value Fund is not a mutual fund. The ticker is a trading ticker that we use for our operational access to the contract and daily pricing is not available through conventional resources. Our recommendation is to update the MetLife values in your financial data quarterly with the value from the web or your statement.
Account Details and Information
How do I look at the transaction detail?
You need to login into your account. Under "Account Summary" in the menu, select "Transaction History". The next screen provides you with the ability to define your transaction search. You can use the drop down boxes to fine tune your search. After completing those selections, click on "Update". The next screen summarizes your search request.
This screen can also be exported to an Excel spreadsheet by selecting the program on right hand side of the screen and clicking on "Export".
I have changed my name, address, etc. How can I reflect this change on my account?
To change your name, please use the feedback function via the website. Once you have logged into your account, click on "Contact Information" under "Reference" on the menu. If you are unable to log into your account, you may also contact your Plan Sponsor. Otherwise, you have the ability to update your address and e-mail address by accessing "Participant Summary" under "Account Summary" on the menu.
How do I change my deferral percentage?
Some plans allow you to change your deferral percentage on the website. If so, you may access "Contribution Amount" under "Transactions" on the menu. Otherwise, you must see your plan sponsor in order to change the amount deducted from your compensation for your retirement plan. They will then forward that information to your payroll provider to begin the new deduction.
When does my vesting update?
We usually update hours at the end of every plan year. At that time, your employer will send us current information regarding each employee and we will update our system to reflect this information.
You must work a specific number of hours in each year to be credited with a year of service thus increasing your vesting percentage. The hour requirement is defined in your plan document and should also be listed in your Summary Plan Description (SPD).
PIN and Login Information
Why is a social security number necessary in this day of rampant identity theft? Most companies only need the last four numbers of a SSN if at all. Can this be changed?
While our login sites are secure, we are cognizant of the fact that your SSN needs to be protected. Upon your initial login to the website, you may select "Alternate User ID" from the toolbar and change your login ID to something more secure and easy to remember. If you would like to make this change after your initial login, you may access "Alternate User ID" under "Transactions" on the menu.
How do I change my password?
Once you have logged into your account, click on "Change Pin" under “Transactions” on the menu. From there, you can change your PIN. The change will take effect immediately.
How do I obtain my PIN?
Go to the login screen and click on the link that says "Click here to reset your PIN if lost or forgotten". You will then be asked to verify some personal information such as your date of birth and zip code. You will then be able to set a new PIN. The PIN may be up to 20 alphanumeric characters.
I have had failed login attempts and have locked myself out. Can you help?
Please contact our Help Desk at (888) 412-2445, 7:30 a.m. - 5 p.m. CST Monday - Friday. After verifying your information, your account will immediately be unlocked.
Distributions, Loans, Hardships
How can I apply for a hardship?
Unfortunately at this time, you are unable to apply for a hardship via the website or the voice response unit. Please see your Plan Sponsor for paperwork that must be completed and submitted to us. Once we receive all the necessary documentation, we will begin to process your hardship. A check or ACH will be sent within 4 - 6 business days from the day we receive the completed information.
How do I apply for a loan on the web?
This function must be available to your plan. Once you have logged into the website, click on the "Loans" link under "Transactions" on the menu. Click “Model/Request a Loan” and complete the information on the page and then click "Calculate Payment". If you agree to the payment information, click on "Request Loan" and your loan request will be submitted for processing.
If your plan has specific reasons or restrictions on why a loan may be taken, then the Plan Administrator will be required to review your request and either approve or decline it based on the purpose of the loan. If you are married, your plan may also require spousal consent on the request, please review the documentation to determine if this is applicable and see your Plan Administrator.
Once the loan request is submitted, and approved (if required), we will then process your request for the loan. A check or ACH will be sent within 4 - 6 business days to you.
How do I apply for a loan via a paper application?
You will have to speak to your Plan Sponsor concerning paperwork that must be completed in order for us to process a loan. Once all completed documentation has been submitted to us we will begin processing your loan request. A check will be mailed within 8 business days. Usually, this check goes to your employer so that they may make any necessary copies for payroll purposes.
I no longer work for my employer, how do I get my money out?
To receive your account balance, you must see your plan sponsor to request that a Notice of Employee Termination be sent to us. We will then either mail you a distribution package or your plan sponsor will provide you with one. Once we receive the Notice of Termination and the Distribution Benefit Election Form completed and signed, we will process the distribution. This usually takes 4 - 6 business days from the day we receive the completed information. All contributions for your account must be received before we can process your final distribution. This may delay your distribution from occurring within 4 - 6 business days.
Depending on the specifications in your plan document, if your account balance is less than $5,000.00 and no distribution election is received your employer has the right to force your balance into an individual retirement account (IRA).
How can I contact your office?
Once you have logged in you may use the participant feedback function available under "Reference" and then select "Contact Information" or you may contact our Help Desk at (888) 412-2445, 7:30 a.m. - 5 p.m. CST Monday - Friday.