We have a small number of plans that are pooled plans where participants do not have individual accounts and the TPA is responsible for tracking participant account balances. For these plans, participant accounts are not tracked in Relius or MPC.

The TPA will provide annual statements to the participants but any participant inquiries regarding balances should be directed to the plan sponsor.

If we receive a distribution form for a participant in a pooled plan, we should first touch base with the TPA to confirm the value of the account or in the case of an RMD request, verify the RMD amount with the TPA. Once the TPA confirms the value or RMD due, we will need to send an email to Recordkeeping to request that they manually process the distribution. Any related forms or documentation should be saved in the appropriate client folder as well.

Please see attachments for examples of correspondence with the TPA Sikich related to a disbursement for a T&L Manufacturing participant, as well as an example of a request to Recordkeeping to process the disbursement.