Retirement Plan Forms Frequently Asked Questions

What do I do with Beneficiary Forms?
Employee enrollment forms have been completed, now what do I do with them?
How does an employee change his deferral amount?
An employee is taking a loan, how do I handle the loan repayments?
What forms should be sent directly to the record keeper?
What forms should be sent directly to Paragon?
Who is responsible for enrollments and employee notification?

What do I do with Beneficiary Forms?
The Plan Administrator should keep all beneficiary, change of beneficiary and spousal waiver forms on file. In the event of a participant’s death, the Plan Administrator will be responsible for completing the beneficiary information.

Employee enrollment forms have been completed, now what do I do with them?
Once you’ve verified that all applicable sections have been correctly completed, notify your payroll department with a list of the employees who will need to have pre-tax deferrals deducted. You will need to make a copy of the entire Participant Enrollment Form. Keep this copy for your records. The enrollment forms can be faxed or mailed to the record keeper.

Please note that some investment provider do not accept paper enrollment forms. Online Enrollment is required by these service providers.

How does an employee change his deferral amount?
Provide the employee with a Salary Reduction Election Form. Once the employee has completed and signed the form, you will need to notify your payroll department of the change. Keep this form on file to maintain your records. Please consult your Plan Documents for provisions regarding salary deferral changes.

An employee is taking a loan, how do I handle the loan repayments?
The loan repayments will need to be withheld from the employee’s pay on an after-tax basis. You need to notify your payroll department with the amount of the after-tax repayments and the target date for the final repayment. The repayments will need to be forwarded to the record keeper along with your contributions. You will also need to clearly label the loan repayments on the allocation listing to your record keeper.

What forms should be sent directly to the record keeper?
Enrollment forms, Participant Data Change forms, Investment Change forms and Rollover Contribution Election Forms should be sent directly to the record keeper. Please note that employees can often also make their investment changes using the Internet or an Interactive Voice Response System.

What forms should be sent directly to Paragon?
All withdrawal forms should be sent directly to us for completion and review and then they will be forwarded to the investment carrier. To ensure proper processing, please make sure you are printing the Current withdrawal forms from the plan sponsor website on an as needed basis .

Who is responsible for enrollments and employee notification?
It is the Plan Administrator’s responsibility to notify employees when they become eligible. Generally, your financial advisor holds the enrollment meetings and answers any investment questions.

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