EZLink Tip of the Month: Termination Dates
Processes that save time are always welcome, and one time-saving tip is to submit your employees' dates of separation to ICMA-RC as soon as administratively possible. This can be done electronically, and alleviates the need to review and sign printed withdrawal forms for your former employees.
Having employees' termination dates helps us communicate relevant and accurate information to participants in a timely manner, can reduce the number of questions participants might have for their employers, and can help retain assets in the plan, which in turn helps employers.
If you have a plan participant who is retiring, disabled, or separating from service, you can provide ICMA-RC with the participant's termination date via EZLink, which also allows you to enter a future termination date (up to 150 days prior to termination).
To terminate a participant from a 401 or 457 plan, follow these instructions within EZLink:
- Click on "Manage the Plan."
- Click on "Participant Administration."
- Select "Terminate Participant."
- Enter either the participant's account number or the last name in the search criteria and then click on "Search."
- Click on the participant's name.
- Enter the "Termination Date" and select the "Termination Reason," and click on "Proceed."
- Confirm the information is accurate and click on "Submit."
For assistance while using EZLink, please contact our Plan Sponsor Services team using any of the "Contact Us" options within EZLink.