Get Trustee Directive For Benefit Payment - Lincoln Financial Group

Filling out the Trustee Directive For Benefit Payment form from Lincoln Financial Group can be a straightforward process when you follow these guidelines. This comprehensive guide will walk you through each section and field, ensuring you have all the necessary information to complete the form accurately.

Follow the steps to complete the Trustee Directive for benefit payment online.

1. Press the ‘Get Form’ button to access the Trustee Directive For Benefit Payment form and open it accordingly.
2. Begin by entering your participant information. Provide your contract number, name, RS Plan ID, plan name, address, city, state, ZIP code, social security number, daytime phone number, date of birth, and date of hire. An alternate contact name and phone number are optional but can be helpful.
3. In the 'Form and Type of Benefit Election' section, select your desired rollover option. You may choose to roll over your entire account balance, a specific amount, or elect to receive a lump sum payment. Be sure to fill in the blanks with any amounts you specify.
4. Review the 'Taxation' section and consult a tax advisor if needed. Indicate your preferred federal withholding rate for lump sum distributions and select where the rollover will go (another employer retirement plan, a traditional IRA, or to purchase an immediate annuity). Fill in the institution's name to whom the check should be payable, along with their contact details.
5. In the 'Payment Instructions' section, indicate how you would like the rollover and lump sum payments to be delivered. You can opt for the rollover check to be mailed directly or specify if it should be sent to a trustee.
6. Complete the 'Reason for Distribution' section as directed. The plan administrator or trustee will fill this out, indicating the circumstances of the distribution.
7. If applicable, complete the 'Vesting' section, which requires details about hours worked and any outstanding loans. This section is crucial for processing your distribution.
8. Ensure the participant and spouse signatures are provided for verification. A witness signature from a notary public or plan representative is also necessary for processing the document appropriately.
9. Finally, review the completed form for accuracy, save any changes, and proceed to download, print, or share as necessary to finalize your submission.

Start filling out the Trustee Directive For Benefit Payment online today to ensure a smooth benefit distribution process.