Summary
This guide outlines the process for transferring a 401(k) plan to 401GO, detailing the steps involved in both pre-transfer preparation and asset transfer. In the first phase, users are instructed to submit their existing adoption agreement, after which 401GO conducts a due diligence review to identify protected benefits. The turnaround for this review is typically 48 hours, during which plan details are verified for accuracy. Following this, users must sign documents to establish the plan, with support from assigned specialists. The second phase focuses on the asset transfer and allocation, which is set by the prior provider and typically takes 45-60 days. During this time, employees are notified of a blackout period and can continue contributing to their new accounts. The guide emphasizes the importance of communication with the prior provider to ensure a smooth transition. Once the assets are transferred and allocated, employees are encouraged to download the 401GO mobile app to manage their retirement savings.
