Your employer, at its option, may modify, revoke, suspend, terminate, or change any or all plans, practices, or procedures discussed in this document, in whole or in part, at any time and for any reason as business, employment legislation, and economic conditions dictate.
Idaho National Laboratory
Attn: Benefits Accounting
P.O. Box 1625, MS 3596
Idaho Falls, ID 83415
BEA Benefits Mailing Address:
Idaho National Laboratory
Attn: BEA Benefits
P.O. Box 1625, MS 3112
Idaho Falls, ID 83415
Vanguard Participant Services
1-800-523-1188
Frequently Asked Questions
PENSION PLAN:
Q1: How do I change my direct deposit bank account information?
A: You will need to complete a Direct Deposit Authorization form. Download the form from the link. Complete, sign, date, include current phone number, and return either via email to [email protected] or first class mail.
Payments are processed the first working day of each calendar month. All bank changes must be submitted 7-10 days prior to the end of the month in order to take effect the following month. If not processed in time, a paper check will be mailed.
Q2: How do I report an address, phone number or email change?
A: You will need to complete a Retiree Address Change form.
Download the form from the link. Complete, sign, date, include current phone number, and return either via email to [email protected] or first class mail.
Q3: I did not receive a copy of my 1099-R. Where is it/can you re-send it?
A: If you have moved, you will need to complete a Retiree Address Change form. Download the form from the link. Complete, sign, date, include current phone number, and return either via email to [email protected] or first class mail.
Otherwise, call the Retiree Pension Helpline at 208-526-0717 for assistance.
Q4: Where can I get a copy of my paystub?
A: Call the Retiree Pension Helpline at 208-526-0717 or send an email to [email protected].
Q5: How do I change my federal tax withholding allowances?
A: Visit the IRS website to download Form W-4P Withholding Certificate for Pension or Annuity Payments at https://www.irs.gov/pub/irs-pdf/fw4p.pdf, call the Retiree Pension Hotline at 208-526-0717, or send an email to [email protected] to obtain a form. Complete (be sure to mark appropriate marital status and number of allowances), sign, date, and return via email to [email protected] or first class mail.
Payments will be net of federal income tax withholding. State income taxes are not withheld. However, for most states, including Idaho, the benefits you receive are subject to state income taxation as ordinary income.
Q6: How do I change my medical, life, or other insurance withholdings from my annuity payment?
A: Medical insurance elections can only be changed during open enrollment (in November) unless there is a qualifying life event. Open enrollment forms will be mailed to you each year. Examples of qualifying life events include: eligibility for Medicare, dependents reaching age 26, marriage, divorce, death, birth, and adoption.
Life Insurance changes can be made at any time.
Q7: How do I request an annuity letter for proof of income verification?
A: Call the Retiree Pension Helpline 208-526-0717 or send an email to [email protected] to obtain a signed letter.
Q8: Who do I contact with questions on my retirement plan?
A: Call the Retiree Pension Helpline at 208-526-0717 to report retiree’s name, date of death, alternative contact name and phone number. You may also email Benefits Accounting at [email protected] or email Benefits at [email protected]. Be sure to provide a forwarding contact and mailing address to send the 1099-R for the final tax return.
Q10: As a beneficiary, who do I contact with questions?
A: Call the Retire Pension Helpline at 208-526-0717. You may also email Benefits Accounting at [email protected] or email Benefits at [email protected].
Q11: I am getting divorced. Who do I contact to set up a QDRO for my retirement benefits?
A: Email Benefits at [email protected] with questions regarding Qualified Domestic Relations Order questions (QDROs).
For assistance with downloading or completing forms, or for additional questions, call the Retiree Pension Helpline: 208-526-0717 or email: [email protected].
401(k) INVESTMENT PLAN:
Q12: What if I have an outstanding loan when I retire or terminate employment?
A: You can repay the loan in a lump sum within the 30-day period following your termination date. Alternatively, you can make arrangements with Vanguard to set up loan payments via automatic withdrawal from your checking or savings account. If you do not choose one of these options, you will be subject to taxation on the remaining balance. Contact Vanguard Participant Services at 1-800-523-1188 for more information.
Q13: Upon retirement or separation from the company, what are my options?
A: Two options:
1) Elect payment of your vested account balance by contacting Vanguard Participant Services at 1-800-523-1188 (may be subject to tax penalties if you are not 59 ½).
2) Leave your account in the plan (you will no longer have employer matching contributions or automatic payroll contributions) but can continue to direct your investments until paid from the plan. You must begin taking required minimum distribution payments by December 31st of the year in which you become age 70 ½.
Q14: How do I request a direct rollover from a former employer’s 401(k) plan?
A: Contact Vanguard Participant Services at 1-800-523-1188 to obtain proper forms and instructions before attempting to rollover distributions from another plan. By choosing a direct rollover from the other plan, you can avoid income tax withholding and the IRS imposed 10% early tax penalty.
It is recommended to seek advice from your tax accountant, especially if selecting a non-direct rollover option.
Q15: If I am under age 59 ½ and want to take a distribution, will I have to pay the 10% additional income tax?
A: It is recommended to seek advice from your tax accountant, but in general:
If you are under age 59½, you will have to pay the 10% IRS imposed additional income tax on early distributions for any payment from the plan that you do not roll over into another qualified retirement plan or traditional IRA, unless one of the exceptions listed below applies. This tax is in addition to the regular income tax on the payment not rolled over.
The 10% additional income tax does not apply to the following payments from the plan:
• Payments made after you separate from service if you will be at least 55 in the year of the separation
• Payments that start after you separate from service if paid at least annually in equal or close to equal amounts over your life or life expectancy (or the lives or joint life expectancy of you and your beneficiary)
• Payments made due to disability
• Payments after your death.
Additional information will be provided by Vanguard on taxation matters and your rollover options when you retire. You can also contact Vanguard Participant Services at 1-800-523-1188 if you have any questions.
Q16: If I terminated employment, can my 401(k) be rolled over into my new employer’s plan?
A: Yes, contact your new employer’s plan administrator for assistance.
Q17: What investment options are available?
A: You can choose how Vanguard invests your amount from among the various investment funds. The list of available funds can be found online at https://investor.vanguard.com/home. Look under the tab “Research Funds,” then, “Funds in my Plan.”
Q18: How do I establish or change my beneficiary information?
A: By calling Vanguard Participant Services at 1-800-523-1188 or by logging into your account online at https://investor.vanguard.com/home. Then go to “Menu,” then “My Profile,” and select "Beneficiaries".
Q19: If I left my investments in the plan when I retired, can I take out a new loan after I terminate?
A: No. The loan provision is only available to active employees.
Q20: Will I receive a statement showing my benefit?
A: It is preferred you sign up for paperless statements on your Vanguard account. https://investor.vanguard.com/home. Then go to “Menu,” then “My Profile,” and select "Mailing Preferences" to select the paperless option.
Q21: How do I change my deferral election contribution type (before-tax, Roth, and after-tax) and when do my Vanguard system contribution changes take effect?
A: Deferral election changes can be made by calling Vanguard Participant services at 1-800-523-1188 or by logging onto the Vanguard website https://investor.vanguard.com/home. Then go to “Menu,” then “Contributions.”
Q22: I am getting divorced. Who do I contact to set up a QDRO for my investment benefits?
A: Email Benefits at [email protected] with questions regarding Qualified Domestic Relations Order questions (QDROs).
For further information, call Vanguard Participant Services at 1-800-523-1188.
