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July
2010
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Must I move my AHRP
balance once I retire or end employment with an AHRP Participating
Employer?
 Participants
with a balance of at least $1,000 in their AHRP account are welcome to
maintain their account in the AHRP once they are no longer employed by
an AHRP Participating Employer. Although former employees cannot
continue to defer a portion of their earnings into the AHRP, they are
still able to take advantage of most other features of the Plan,
including accessing their funds through loans, periodic distributions
or lump sum payouts. Participants may continue to manage their
investment allocation and access the tools and information available
through the retirement plan just as they did before separating from
employment. An additional advantage of maintaining your
employer-sponsored retirement plan account is that administrative and
investment management fees tend to be lower than in the commercial
environment, but it is important to review and compare all applicable
fees.
Rollovers into the AHRP
Many Participants choose to combine
their various retirement funds into a single account to reduce the
cost and complexity of maintaining multiple accounts. Balances you
hold in IRAs, Conduit IRAs, Simple IRAs (if you participated in a
salary reduction arrangement for at least two years), 401(a) plans,
403(b) plans, 401(k) plans, and governmental 457 plans may be rolled
into the AHRP regardless of whether you are still employed. To arrange
for a rollover, just contact the AHRP Retirement Center at
800-730-2477 and request a Rollover Form. (Rollover Form may also be
requested through the AHRP Web site: AHRP.com). This document will
contain instructions for arranging a rollover. (See highlighted
comment below).
Rollovers out of the AHRP
Once you are no longer employed by an
AHRP Participating Employer you may roll your AHRP balance into your
new employer’s retirement plan, a traditional IRA, a Conduit IRA, a
403(b) plan or a 401(k) plan. Contact the plan into which you wish to
roll your AHRP account balance and obtain their rollover instructions.
Then call the AHRP Retirement Center at 1-800-730-2477 and provide
this information to them.
Remember, both the plan
receiving the rollover and the plan making the distribution will need
sufficient information regarding the other to assure the rollover
conforms to applicable laws. The Participant is responsible for
providing both the receiving and distributing plans with the
information required.
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