Discussion on 401k – fidelity

All workers are eligible to participate through enrolling onto the Fidelity file once a record has been set up for them. After receiving the participants information, Fidelity sets up the record. How can a company tell when a record has been set up on Fidelity?

Hardship Withdrawals: What are the acceptable hardship reasons? What sources are eligible for hardship withdrawal and how is this monitored?

Final Distributions: How does a participant initiate distribution process?
Are all required forms and waivers sent to participant?
What is the process for certifying participant has terminated employment?
How is participants election processed?
What reconciliations are performed to ensure payments in proper forms and amount?
How are federal and state withholding requirements applied?
Are addresses verified?
How are payments remitted to participant? How is bank information verified?

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