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401k opt out form template

401k opt out form template 2025

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The GSEPS 401(k) Plan Opt-Out Form allows new state of Georgia employees to decline participation in the retirement plan. If not completed within five business days of hire, employees will be automatically enrolled with a 1% salary contribution and employer matching. The document outlines the process for opting out, the implications of doing so, and provides information on the qualified default investment alternatives (QDIA) for those who do not provide investment instructions.

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Click ‘Get Form’ to open the 401k opt out form template in our editor.
In SECTION 1, provide your Participant Information. Fill in your Social Security Number, Date of Birth, Name, Agency Name, Hire Date, and Mailing Address clearly.
Review the important note regarding automatic enrollment. Ensure you understand that if you do not submit this form within five business days of your hire date, you will be automatically enrolled in the GSEPS 401(k) Plan.
Move to SECTION 2 and read the Opt-Out Instructions carefully. Confirm that you are aware of your rights regarding contributions and potential refunds.
In SECTION 3, acknowledge your decision by signing and dating the form. This confirms your election to decline participation in the GSEPS 401(k) Plan.
Finally, return the signed form to your Human Resources office within three days of hire to complete the opt-out process.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How do I opt-out of principal 401k?

Unlike some employee benefits, such as opting in for insurance or setting up a flexible spending account, you can enroll in a 401(k) year-round. If you havent enrolled already, consider taking care of this 401(k) business today.

How do I opt out of my principal 401k?

To withdraw money from your account, log in. On the left side of your dashboard, click on the Principal Funds account, then on Transactions. Or, call us at +1-800-222-5852. Your transfer is typically to a bank account.

Can you opt into 401k at any time?

401(k) distribution tax form When you take a distribution from your 401(k), your retirement plan will send you a Form 1099-R. This tax form shows how much you withdrew overall and the federal and state taxes withheld from the distribution if applicable.

What is the 401k opt-out form?

The Opt-Out Form allows employees to decline enrollment in the Nationwide 401k Program. This form must be completed and returned to the company plan sponsor. Ensure that all fields are accurately filled in to process your request.