SMM for Lump Sum Cashouts (Legacy Plan)

Summary of Material Modifications to The Legacy Plan of the National Retirement Fund

This notice, called a “Summary of Material Modifications,” clarifies for you recent changes made to the Legacy Plan of the National Retirement Fund (the “Plan”) regarding automatic lump sum payments of certain benefits. You should not discard the Summary Plan Description as this notice only serves to modify the existing Summary Plan Description.


The following material change has been made to the Plan:
AUTOMATIC LUMP SUM PAYMENTS OF CERTAIN BENEFITS:
Effective January 1, 2020, Participants who are eligible for Deferred Vested Pension benefits shall automatically receive a lump sum payment of their benefit if: (i) the actuarial equivalent value of such benefit is $1,000 or less; or (ii) the actuarial equivalent value of such benefit is above $1,000 but less than $5,000 and the payment of the lump sum is in the economic best interest of the Plan, its Participants and its Beneficiaries. The lump sum benefit will be paid as soon as administratively feasible after the Plan Administrator determines that a Participant is eligible for the payment.


Please note that this Summary of Material Modifications only highlights the key changes to many complex rules, and does not provide complete details of the new provisions to the Plan. In the event that any provisions of this summary are inconsistent with the terms of the Plan document, the Plan document shall govern. If you have any questions regarding this Summary of Material Modifications or the Plan, or would like to review the Plan document, contact the Plan Administrator at (833) 440-8477 between 8:30 AM to 4:45 PM EST.

Benchmark Portal - Top Contact Center

Launches Member Portal Accessible 24/7 from Any Mobile Device

At the National Retirement Fund, we’re committed to providing you with the best benefits and service. To make it more convenient for you to access information regarding your pension at any time, from any mobile device, we launched an app that takes you directly to a user-friendly portal with many easy-to-use features, including:

  • Direct access to your pension benefit information, notifications and other important documents
  • Convenient form wizards enabling you to submit a pension application, manage your account, submit a change of address, sign up for direct deposit, and access your pension benefit history
  • Document look up feature giving you access to important Fund details
  • Resource library offering instructional materials, summary of plan description, links to federal and state tax resources, and Frequently Asked Questions (FAQs)
  • Two-factor authentication to protect your personal data and provide a secure online experience

In addition to the functions provided through the mobile app, members can also access their information through a web-based portal; which provides access to additional capabilities.

We are committed to providing you with the highest quality benefit solutions and service. As such, you can look forward to continuous review and enhancement of both the range of features offered and the overall user experience.

Lanza un portal para miembros accesible las 24 horas del día, los 7 días de la semana, desde cualquier dispositivo móvil

En el Fondo Nacional de Jubilación estamos comprometidos a brindarle los mejores beneficios y servicios. Para que sea más conveniente para usted acceder a la información sobre su pensión en cualquier momento, desde cualquier dispositivo móvil, lanzamos una aplicación que lo lleva directamente a un portal de interfaz amigable con muchas características fáciles de usar, que incluyen:

  • Acceso directo a la información sobre sus beneficios de pensión, notificaciones y otros documentos importantes.
  • Asistentes de formulario convenientes, que le permiten enviar una solicitud de pensión, administrar su cuenta, enviar un cambio de dirección, registrarse para el depósito directo y acceder a su historial de beneficios de pensión.
  • Función de búsqueda de documentos, que le brinda acceso a detalles importantes del Fondo.
  • Biblioteca de recursos que ofrece materiales didácticos, el resumen de la descripción del plan, enlaces a recursos fiscales federales y estatales y preguntas frecuentes (Frequently Asked Questions, FAQ).
  • Autenticación de dos factores para proteger sus datos personales y proporcionar una experiencia en línea segura.

Además de las funciones proporcionadas a través de la aplicación móvil, los miembros también pueden acceder a su información a través de un portal web que proporciona acceso a funciones adicionales. 

En el Fondo Nacional de Jubilación, estamos comprometidos a brindarle los mejores beneficios y servicios. Por lo tanto, puede esperar una revisión y mejora continuas tanto de la gama de características ofrecidas, como de la experiencia general del usuario.

en_USEnglish