How will employees be able to roll over vacation, comp time, and etc. into their 401k after their retirement?
Employee’s wishing to have their final leave payout put into their 401k will need to either increase the dollar amount on the vendors site in time for it to come over on our interface and upload in our system, or preferably complete a one-time deduction form: (https://www.retirement.prudential.com/ncplans/002003_OneTimeDeferralChange.pdf ) and forwarded to BEST. This form is available on the BEACON site as well as the 401k vendor’s site. It is not a new form, it has always been available for employees to do. Bank Details Q: Under Bank Details (0009) you have bank details type such as main bank, other bank, etc. What is the meaning of Main Bank Details Off Cycle and Other Bank Details Off Cycle. A: We are currently not using Main Bank Details Off cycle and Other Bank Details Off Cycle. Q: If an employee wants to change their bank, how much time does it take to make the correction in the system? Example: I change my bank account today, will my check go to the new account this month? What
