Safe-Harbor-IRA® is an automatic rollover IRA program developed by Centier Bank exclusively for missing or non-responsive terminated plan participants. Your former employer has made Centier the trustee of your automatic rollover, meaning your plan balance is now in a Safe-Harbor-IRA®.

What is a 401k safe harbor notice?

A safe harbor 401(k) plan requires the employer to provide: timely notice to eligible employees informing them of their rights and obligations under the plan, and. certain minimum benefits to eligible employees either in the form of matching or nonelective contributions.

Can a safe harbor 401k be rolled over to a general 401k?

For the purposes of rollovers, however, the Internal Revenue Service doesn’t make a distinction between money in a safe harbor 401 (k) plan and money in a general 401 (k) plan. Before you can roll over money from your 401 (k) plan, you first need to be able to take your money out.

Who is the trustee of a safe harbor IRA?

The Safe-Harbor IRA® is an automatic rollover IRA program developed by Centier Bank exclusively for missing or non-responsive terminated plan participants. Your former employer has recently made Centier the trustee of your automatic rollover.

What happens when you roll over to a safe harbor IRA?

If the participant takes no action, their retirement savings are automatically rolled over to a Safe Harbor IRA. At this point, the former plan sponsor’s fiduciary responsibility to their former participant is concluded, and the former participant is now a Safe Harbor IRA accountholder.

Can a 401k be rolled over to an IRA?

You can roll your safe harbor 401 (k) into an IRA — but only if you can take eligible distributions. The 401 (k) plan rules can be quite tedious and time-consuming for employers, so some companies opt to use what’s known as a “safe harbor.”