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What is the status of my loan withdrawal request?

The processing timeline for a withdrawal request ranges between 5 and 15 business days from the receipt of a completed application. This timeline does not i...

Fri, 25 Nov, 2022 at 10:24 AM

Can you expedite my loan withdrawal request?

Loan withdrawal requests are processed in the order in which they are received. We cannot rush a loan withdrawal request to the head of the line as that wou...

Thu, 25 Jun, 2020 at 2:44 PM

Can I suspend my loan payments?

Your Plan may permit Participants to suspend loan payments while on an bona fide leave of absence for no more than 12 months. IRS rules do not allow the ter...

Fri, 25 Nov, 2022 at 10:29 AM

I am going on a leave of absence. What happens to my loan?

Your Plan may permit Participants to suspend loan payments while on an bona fide leave of absence for no more than 12 months. IRS rules do not allow the ter...

Fri, 25 Nov, 2022 at 10:30 AM

I am no longer with my Employer. What happens to my loan?

Depending on Plan Provisions (please review the Summary Plan Description for details on your Plan's Loan Policies), your loan may become due and payable...

Fri, 25 Nov, 2022 at 10:35 AM

When does a loan become payable upon termination?

A loan does indeed become due and payable in full upon termination of employment. Continued payments and/or partial lump sum installments are not permitted....

Fri, 25 Nov, 2022 at 10:36 AM

Recent articles

When is the contribution deadline for employee contributions?

The due dates for depositing employee 401(k) deferrals differ depending on whether the plan is classified as small or large under Department of Labor (DOL) rules. Small Plan vs. Large Plan The distinction is based on the number of eligible participant...
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Is severance pay eligible compensation for 401(k) contributions?

Compensation paid after severance and payable solely because of severance (and not work performed) is not eligible compensation for 401(k) contributions. Compensation earned during employment (regular wages, commissions, bonuses) that is paid* afte...
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Legacy PDF Forms

For all participants who utilize the RPGFocus platform by accessing their account at RPGFocus Retirement Account Login for Plan Sponsors and Plan Participants (rpgconsultants.com): Your Plan is enabled for online withdrawal requests and it is recommend...
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Automatic IRA Rollovers/”Force-Outs” - Who is Penchecks Trust?

RPG utilizes the services of PenChecks Trust as a distribution agent for Force Out distributions. Following your separation from service, if the vested balance of your retirement account (excluding rollovers) does not exceed $7,000, and you do not req...
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SECURE Act 2.0 Automatic Enrollment Requirement

The SECURE Act 2.0 introduces an automatic enrollment requirement for new 401(k) plans adopted after December 29, 2022. This requirement must be in place starting with plan years beginning after December 31, 2024. Here are the key details: Initial Con...
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Can I take money out of my retirement account at any time?

If you are currently employed by the Plan's Sponsor, your Plan provisions may allow for the following three withdrawal options (these are not available in all Plans, please review the Summary Plan Description for details on your Plan's withdrawa...
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Where can I get a distribution form?

Your Plan is enabled for online distribution requests where you may initiate your account distribution/rollover from your Participant Portal and avoid having to complete and sign paper or PDF forms and attach supporting documentation. Log on to your Partic...
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Long-Term, Part-Time (LTPT) Employees

In December 2019, Congress passed the SECURE Act which included a provision regarding Long-Term, Part-Time (LTPT) Employees and their eligibility for company-sponsored retirement plans. This legislation – aimed at boosting retirement savings for part-time...
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IRS Notice CP216F

In some cases, as a precautionary measure, RPG will file a Form 5558 with the IRS to request an automatic 2.5-month extension of the Form 5500 filing deadline. This does not negatively impact your Company or Plan. This notice just confirms that the extensi...
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Top-Heavy Testing

Although sometimes confused with ADP/ACP discrimination testing (a utilization test), Top-Heavy is an asset-based test that compares the account balances of key employees to those of non-key employees. If the sum of all key employee balances exceeds 60% of...
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