Consolidating your retirement accounts with Sentinel Benefits is as easy as 1, 2, 3.
To consolidate your retirement assets into your Sentinel account, log into your online account to begin the process.
1. Complete the online rollover form.
- Access the form by selecting Plan Statements & Forms and then selecting Forms from the menu.
- Select the rollover form and click Launch.
- Once you have launched the form, follow the steps provided to begin the process. Please note: To complete the online form, you will need to provide information about the account you are looking to rollover into your plan with Sentinel. Once your form is submitted a notification will be sent to your employer to approve the rollover request.
2. Request a check from your current provider. Once your rollover is approved by your employer (you will be notified by email once approved), inform your current provider that you need to process a direct rollover of your retirement account balance into your qualified retirement account with Sentinel Benefits.
*** Some providers will require additional information in order to process a direct rollover. If your provider requires a Letter of Acceptance/Authorization or Letter of Qualified Plan,contact our Service Center to request any additional documentation required.
Letter of Acceptance - Letter from new administrator confirming the new plan accepts rollover contributions
Letter of Qualified Plan - Letter from new administrator confirming the receiving plan is a qualified plan that can accept funds. Qualified plans include, profit sharing, 401(k), 403(b), defined benefit plans, and money purchase.
3. Mail your rollover check to your plan's custodian. Your current custodian may mail the check directly to your existing plan custodian using the instructions provided. If the check is sent to you, you will then need to mail it to your new plan using the delivery instructions provided on your form.
Example of the online rollover form:
What to expect now that you have submitted your request:
1. Notification - You will receive status update notifications throughout the process. Possible updates you will receive:
- Received - Confirmation that your form submission was received and is in process.
- Approved - Your rollover has been reviewed and approved for your Plan. If you have not done so already, please begin the process to send your rollover check to the Plan. Once funds are received, they are posted to account within 5 business days.
- Rejected - Your rollover has been reviewed and rejected for your Plan. Rejection reason will be included in email. (Examples: Not Eligible, Duplicate Request, etc)
- Awaiting Deposit - The funds have not been received for the initiated rollover request. Items to consider or follow up on will be included in the email. Has the check been requested from previous provider? Was the check made out correctly? Do you want to cancel request?
- Completed - The rollover funds have been received and the process is completed. You can see the deposit in your online account transactions.
- Cancelled - Funds were not received on submitted request within 60 days. The request is terminated and you will need to resubmit the rollover form for a new approval.
2. How can I view my rollover deposit? Once you receive the completed email, you can log into your online account and see that your contribution has been credited to your account.
In your online account go to Manage My Account > View Transactions. You can view transactions by source, type and date range to be sure you are able to view the specific deposit type you are looking for.