Are you a plan participant, employer or sponsor?
Sign up for online access here. Please make sure to use a phone number that can receive text messages for multi-factor authentication.
Did you take a distribution in the prior year?
A blackout period is a period of three or more consecutive business days where participants cannot make election investment changes, take distributions or obtain loans.
Is your plan in a blackout period?
Did you receive any of these messages?
You meet the initial IRS qualifications for hardship. Please follow the instructions below to apply.
Please be aware that hardship requests take 10-15 business days for processing and additional 1-3 business days to receive the funds electronically, or 7-10 business days to receive the funds via standard mail. Overnight mailing is available for an additional fee and is subject to a one-day delay if the distribution is a large amount.
Some of the most common reasons this error occurs include:
Please also ensure you are utilizing the below link when logging in: https://ww2.slavic401k.com/account/sign-in/
If none of these troubleshooting tips fix the problem, you can reset your user name and password here. Please contact us at (800) 356-3009 if you need further assistance.
What are you looking for?
For General Information:
If you would like to change your investment allocations, you may do so online by completing the steps below:
This will not change your current assets; this is only for changing where you allocate your future contributions. If you would also like your current assets to move into your new investment allocation you must select yes on the transfer section.
If the request occurs before 4 p.m. ET,
our team will begin processing it the same day.
If the request occurs after 4 p.m. ET,
our team will begin processing it the following day. Please allow us 1-2 business days to complete the request.
Would you like to request a new distribution or get information on an existing one?
Are you currently employed by the company and payroll provider that provided your 401(k)?
Are you age 59 ½ or older?
You can view the status of your distribution request by following the steps below:
Please be aware that distribution requests take 10-15 business days for processing and additional 1-3 business days to receive the funds electronically, or 7-10 business days to receive the funds via standard mail. Overnight mailing is available for an additional fee and is subject to a one-day delay if the distribution is a large amount.
Do any of these hardship reasons apply to you?
If you do not qualify for a hardship or a standard distribution, you can apply for a loan from your 401(k).
Are you currently employed by the company who provided your 401(k)?
You meet the initial IRS qualifications for a loan. You must also have a minimum account balance of $2,000 and take a loan of $1,000 to qualify. Please follow the instructions below to apply.
Please be aware that loan requests take 10-15 business days for processing and additional 1-3 business days to receive the funds electronically, or 7-10 business days to receive the funds via standard mail. Overnight mailing is available for an additional fee and is subject to a one-day delay if the distribution is a large amount.
You do not meet the initial IRS qualifications for a loan from your 401(k). However, you may be eligible to take a distribution or rollover. Please watch this video on how to make a distribution/rollover request online.
What would you like to do?
Please follow these instructions:
Once received, please allow 7-10 business days for processing to complete. You may verify processing has completed by viewing Transaction History underneath the Manage heading within your online account.
Open an account with SlavicIRA here. Once the account has been opened, you may transfer your old 401(k) funds into the IRA.
You will be asked to complete the following steps:
To protect your retirement savings, many recordkeepers will only process distributions via check.
Once the money arrives in your account, you will receive an email prompting you to login and customize your investments.
Are your assets leaving or merging into Slavic401k?
Please contact us at (800) 356-3009 for further assistance.
If you withdraw money from your 401(k) account before age 59 ½, you must pay a 10% early withdrawal penalty in addition to income tax on the distribution. For someone in the 24% tax bracket, a $5,000 early 401(k) withdrawal will cost $1,700 in taxes and penalties.
If you are not taking an early withdrawal, you only pay income taxes on the distribution. The amount of taxes you pay is subject to your individual income tax bracket. View IRS tax brackets here.
IRS regulations prevent taking a distribution if the private employer organization or your participating employer still employs you. Once you terminate your employment, and separate from both your employer and payroll company/plan sponsor/PEO, you may withdraw your vested balance.
There are several options for withdrawals while you are still employed. The list below provides a description for each.
Taking out a loan simply means borrowing money from your 401(k). You pay yourself back, with interest (based on the current interest rate). Loan payments are taken directly out of your paycheck. The maximum that you can borrow from your 401(k) is 50% of your vested balance, up to $50,000. The minimum that you can borrow is $1000, which requires a vested balance of at least $2000. If you should terminate your employment, you have 60 days to payoff loan. If you fail to pay back the loan, the outstanding loan balance will be subject to current income taxes as well as a 10% early withdrawal penalty. Taking out a loan from your 401(k) does not require a credit check.
If you cannot take out a loan, you may qualify for financial hardship. Proof of hardship occurring in the past 12 months and the amount owed are required. Once a hardship withdrawal is approved, your normal retirement contributions are stopped for six months. It is your responsibility to start contributions again. When it comes to this type of withdrawal, you are only eligible to withdraw from contributions you have made to your 401(k) (EE deferrals), not your employer’s match.
According to the IRS, a hardship withdrawal is permitted for the following reasons:
When an active employee reaches age 59 ½ the plan may offer an in‐service withdrawal option of participants elective deferrals and/or employer contributions. The Slavic401k plan document allows for in‐service withdrawal once a month during a plan year (effective January 1, 2019). An employee can withdraw his/her elective deferrals, matching and profit sharing contributions if 100% vested. Employees have an option to do a direct rollover of this withdrawal. If the withdrawal is not directly rolled over, the distribution will be subject to 20% federal income tax (unless the distribution is coming from a Roth 401(k)). No 10% penalty applies.
Unrelated Source Distribution
An unrelated source distribution, often referred to as an unrelated rollover distribution, comes from funds that were rolled over from a previous employer. Participants can request a distribution from these funds at any time. Any distributions taken to yourself will be subject to a mandatory 20% federal income tax (unless they are coming from a Roth portion). You may be subject to a 10% early withdrawal penalty if you are under the age of 59 ½. If you chose to roll over these funds directly into another 401(k) or IRA, no taxes or penalties apply.
Exchange orders submitted before 4 p.m. EST and are traded the same day on a best effort basis. Exchange orders submitted by fax, mail, or via internet after 4 p.m. EST will be traded the next business day. The next business day policy is guaranteed only if the mutual fund companies and clearing broker involved settle the trade by the next business day (T+1) or if less than 2,500,000,000 shares are traded on the NASDAQ exchange on the day you place your order or on the day after. If trading volume on the NASDAQ exceeds the limit or the outside parties cannot settle the trade as specified, your order will be processed on a best efforts basis and Slavic401k will not be responsible for the timing, only the accuracy of your trade. This policy is not effective for John Hancock, Lincoln, or Deutsche plans and those participants will continue to make trade requests directly to those companies. The above policy is still subject to the 14 day error notification policy following the mailing of your statement. To receive compensation for any trading error, you must notify Slavic401k in a timely fashion to allow for correction to minimize damages, if any.
Effective immediately, all Vanguard funds, with the exception of the Money Market funds, Short-Term Federal and Short-Term Bond Index, restrict participants from transferring out of a fund and back into the same fund within 30 days.
A large portion of Americans will face a substantial retirement savings shortfall. Currently, 57 million employees do not have access to a retirement savings plan