Get Prime Plan Solutions

Filling out the Prime Plan Solutions form is an essential step when a participant terminates services. This guide provides clear, step-by-step instructions to help users navigate the process efficiently and ensure compliance with all necessary requirements.

Follow the steps to successfully complete the Prime Plan Solutions form.

1. Click the ‘Get Form’ button to obtain the necessary form and open it in the editor.
2. Locate the section labeled 'Distribution Forms' on the document. Ensure that you choose 'Separation from Service' from the provided drop-down menu.
3. Review the IRS and Department of Labor requirements for distribution rights. Ensure that you are aware of the 30-day and 180-day notice periods for distribution.
4. Prepare the cover letter to accompany the distribution paperwork. This should include clear instructions for the participant on how to fill out the Participant Distribution Election Form.
5. Fill out the Participant Distribution Election Form with accurate information and ensure the form is signed where required.
6. Return the completed form to the plan trustee within the specified deadlines to prevent exceeding the 180-day period.
7. Upon receipt of the completed form, verify that it is in good condition and that all necessary requirements have been met.
8. Fax the completed form to Prime Plan Solutions at 816-218-0079 and retain the original paperwork for your records.
9. If the participant does not return the Distribution Form within 30 days, follow the stipulated procedures for forced distribution based on their vested account balance.
10. For participants with vested balances above $5,000, maintain communication to ensure they understand their right to postpone distributions.

Complete your documentation online today to ensure a smooth transition for participants.