Imrf Form 6 01E PDF Details

Navigating through the complexities of early retirement can be challenging, and for those participating in the Illinois Municipal Retirement Fund (IMRF), understanding the unique requirements of the IMRF Form 6.01E is crucial. This form, specifically designed for Requesting Rollover Approval for Early Retirement Incentives (ERI), plays a pivotal role in the early retirement process. Ensuring that rollover distributions are eligible and appropriately managed is a fundamental aspect of this procedure. The form provides a clear directive not to withdraw or send any funds for rollover without prior eligibility confirmation from IMRF, indicating the organization's commitment to compliance with federal tax laws and regulations. It outlines the responsibilities of both the member and their financial institution in providing necessary information, highlighting types of distributions that can or cannot be accepted under the Internal Revenue Code (IRC). Furthermore, it specifies the actions required when approval is granted, underscoring the importance of the member's role in initiating the transfer of funds. Instructions on how to handle distributions from traditional IRAs further detail the process, ensuring that members understand the need for clarity on what portion of their money qualifies as tax-deferred. Finally, the form restricts eligibility to accounts held in the member’s name, emphasizing adherence to IRS rules. This careful delineation of procedures and requirements underscores the IMRF's effort to streamline the ERI rollover process, ensuring a smooth transition for members considering early retirement.

QuestionAnswer
Form NameImrf Form 6 01E
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesFINANCIALINSTITUTION, Illinois, ERI, form 601e

Form Preview Example

Request For Rollover Approval for Early Retirement Incentive (ERI)

IMRF Form 6.01E (Rev. 04/12)

Do not withdraw any funds

or send any rollover distributions to IMRF

before we advise you of your eligibility to do so.

IMRF must review your rollover information before we can accept a rollover.

Please allow at least 10 days for this review.

For rollover for Past Service Credit, please use Form 6.01, instead of this form.

1. Do NOT send money with this form

Before IMRF can accept any rollover monies, specific information must be submitted to IMRF for an eligibility review.

2. What you and your financial institution must do

Your financial institution must provide ALL information required on the form. The institution completes Section 2 of the Rollover Certification form. Be sure to:

•check what type of account the rollover is coming from.

•indicate what amount is tax deferred.

•indicate what amount is previously taxed.

3.Rollover distributions we CANNOT accept

The Internal Revenue Code (IRC) regulations do not permit us to accept a rollover distribution from:

•any rollover funds greater than the total

cost of your past service. The maximum amount we can accept cannot exceed the total (actual or estimated)

member ERI cost.

•a Roth IRA

•previously taxed money in a traditional IRA

4.Rollover distributions we CAN accept

Federal tax laws allow IMRF to accept rollover distributions for payment of past service in certain circumstances. The rollover must be from:

•another qualified pension plan (for example, an out-of- state public retirement system) OR

•a traditional IRA OR

•an IRC section 457 plan OR

•an IRC section 403(b) plan

5. When your rollover request is approved

When IMRF contacts you (either by phone or letter) and advises you that we can accept the rollover funds as a tax-

deferred payment, you are responsible for contacting your

financial institution to arrange the transfer. IMRF cannot direct your financial institution to process the transfer — the request must come from you as a holder of the account.

6. If you send an ineligible distribution to IMRF

If you send a rollover distribution to IMRF that federal tax

laws do not allow us to accept, the rollover distribution will be returned either to you or to your financial institution.

7. If your rollover is from a traditional IRA, the financial

institution may not know what amount is tax deferred. In

that case, please submit a letter in which you certify what portion of the money in the account is tax deferred and what portion is previously taxed. Please make sure you sign

and date the letter and that it includes your Social Security number. Without a certification from either the financial institution or from the above letter, we will not be able to approve your rollover request.

8. You may roll over monies ONLY from accounts in

your name. Monies from an account where you are a named beneficiary will NOT qualify as a rollover under IRS rules.

call an IMRF Member Services Representative at

1-800-ASK-IMRF (1-800-275-4673) Monday through Friday 7:30 A.M. to 5:30 P.M. — Fax (630) 706-4289

IMRF Form 6.01E (Rev. 04/12)

www.imrf.org

Request for Rollover Approval for Early Retirement Incentive (ERI)

IMRF Form 6.01E (Rev. 04/12)

Avoid delays—read the instructions before completing this form

•Do not withdraw any funds or send any rollover distributions to IMRF before we advise you of your eligibility to do so.

•Complete this certification to roll over tax-deferred distributions from another qualified plan or qualifying individual retirement account (IRA) for payment of member cost for ERI.

•If your rollover is for Past Service Credit, please use Form 6.01 instead of this form.

SECTION 1 — MEMBER INFORMATION

MEMBER’S FIRST NAME

MIDDLE INITIAL

LAST

JR., SR., II, ETC. SOCIAL SECURITY NUMBER

________________ - ________ - ________________

 

STREET (MAILING ADDRESS)

CITY

 

 

 

STATE

ZIP +4

 

 

 

 

 

 

 

 

 

 

 

 

 

MEMBER’S TELEPHONE NUMBERS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WORK

(

)

 

HOME

(

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SECTION 2 — CERTIFICATION BY FINANCIAL INSTITUTION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NAME AND ADDRESS OF PLAN/FINANCIAL INSTITUTION

 

 

 

NAME ON ACCOUNT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACCOUNT NUMBER

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TELEPHONE NUMBER (include area code)

 

 

 

 

 

 

 

 

 

 

(

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The qualified plan or individual retirement account named above is (check one)

 

 

 

 

 

 

A

retirement plan under Internal Revenue Code Section (circle which one) 401, 457, 403b, other (specify) __________

 

 

 

An individual retirement account (“IRA”) (Not a ROTH IRA)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WHAT AMOUNT IS TAX DEFERRED?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WHAT AMOUNT, IF ANY, WAS PREVIOUSLY TAXED? (CANNOT COME FROM AN IRA)

 

 

 

 

 

 

 

 

 

 

 

 

SIGNATURE OF AUTHORIZED OFFICIAL OF FINANCIAL INSTITUTION (NOT EMPLOYER) WRITE - DO NOT PRINT OR TYPE

DATE (MM/DD/YY)

 

 

 

 

 

 

 

 

 

 

 

 

 

PRINTED NAME OF AUTHORIZED OFFICIAL OF FINANCIAL INSTITUTION

TITLE

SECTION 3 — MEMBER CERTIFICATION

I request that IMRF accept a rollover distribution in the amount of $______________ from the institution named above.

(IMRF CANNOT ACCEPT AN AMOUNT LARGER THAN THE COST TO PURCHASE THE ERI)

With this distribution I am purchasing _____________ months of ERI (Early Retirement Incentive) Credit

Choose one: q Married or in a civil union for at least one year on your last day of IMRF participation

q Single or married/in a civil union for less than one year on your last day of IMRF participation

I understand that I may be required to provide proof, if requested, in support of the above statements. I also understand that my rollover must be made to IMRF within 60 days of receipt of the distribution. I agree with the information provided by my financial institution.

Member Signature (write - do not print or type)

Date

X

ALL QUESTIONS MUST BE ANSWERED BEFORE SUBMITTING FORM TO IMRF

Illinois Municipal Retirement Fund

Suite 500 2211 York Road Oak Brook IL 60523-2337

Member Services Representatives 1-800-ASK-IMRF (1-800-275-4673) — Fax (630) 706-4289

IMRF Form 6.01E (Rev. 04/12)

www.imrf.org

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Filling out this PDF requires attention to detail. Make sure all necessary fields are filled out accurately.

1. The 01E usually requires particular information to be typed in. Make sure the following blank fields are complete:

The way to fill out Illinois part 1

2. The subsequent part is to fill in these particular fields: SECTION MEMBER INFORMATION, LAST, JR SR II ETC SOCIAL SECURITY NUMBER, STREET MAILING ADDRESS, CITY, STATE, ZIP, MEMBERS TELEPHONE NUMBERS WORK, HOME, SECTION CERTIFICATION BY, NAME ON ACCOUNT, ACCOUNT NUMBER TELEPHONE NUMBER, The qualified plan or individual, A retirement plan under Internal, and WHAT AMOUNT IS TAX DEFERRED.

Step number 2 in completing Illinois

As for ACCOUNT NUMBER TELEPHONE NUMBER and MEMBERS TELEPHONE NUMBERS WORK, make sure you do everything correctly in this current part. Those two are thought to be the most significant fields in the file.

3. This next part focuses on SECTION MEMBER CERTIFICATION I, q Married or in a civil union for, I understand that I may be, that my rollover must be made to, Member Signature write do not, Date, ALL QUESTIONS MUST BE ANSWERED, Illinois Municipal Retirement Fund, Suite York Road Oak Brook IL, Member Services Representatives, IMRF Form E Rev, and wwwimrforg - type in every one of these fields.

Member Services Representatives, that my rollover must be made to, and IMRF Form E Rev inside Illinois

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