SDCooper Company
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© 1999 - 2014
SDCooper Company
All rights reserved.

18141 Beach Bl. 300
Huntington Beach
California 92648

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Magic Words

Call whomever is the custodian of your retirement funds [former employer benefits department, HR, broker, mutual fund house] and tell them:

"I wish to do a 'direct rollover' to my new employer's ERISA qualified plan."

Then ask them:

"Will you bank wire the funds?"

If they say yes tell them you will get back to them with the bank wire instructions. If they say no, move on. Then ask them:

"Do you have a form you wish me to complete?
Can we do this over the phone?
Do you wish my new employer's plan to generate a form?"

If they have a form, we will assist you in its completion. If they want our form, contact us and we will send it to you via e-mail. Secure Medallion Signature Guarantees from your bank or broker.

If you have yet to leave your employer:

If you have not left the employer from which you need to secure rollover funds, ask someone who has recently terminated how long it took for them to receive their funds.

Medallion Signature Guarantee

You should secure from your bank a Medallion Signature Guarantee of your signature on your rollover directive / distribution request form even if there is no designated space for it. Medallion Signature Guarantees are services financial institutions, banks, brokers, credit unions, provide each other for their clients. These are not to be confused with notarization which ERISA requires for some spousal signatures. Brokers and insurance companies have been known to sit on these forms for days for lack of this guarantee and not tell you why.