Former TWA employee account balances are 100% vested at all times. Former TWA employees are classified as “terminated” on the recordkeeping system. Beneficiaries are classified as either “spousal” or “non-spousal” on the recordkeeping system. Former TWA employees may have funds whose source is classified as 1) Employer Contributions, 2) After Tax, 3) Rollover.
CONTRIBUTIONS
Systematic Contributions
Former TWA employees and their beneficiaries are not eligible to make systematic contributions (such as yearly IRA contributions) to their DAP accounts.
Roll-In Contributions
Former TWA employees may add to their DAP account by rolling-in funds from the following sources:
- Qualified plans (such as 401(k), profit-sharing, and money purchase pension plans)
- Individual Retirement Account (IRA)
A roll-in form is available on this website under “ONLINE FORMS”. Participants should have the prior custodian make the check payable to “FIIOC FBO (Participant’s name)”. The roll-in form and the check should be mailed to the DAP office at 3221 McKelvey Road, Ste. 105, Bridgeton, MO 63044. Large balances may be wire-transferred. Please contact the DAP office at 314-739-7373 for wire instructions.
FORMS OF PAYMENT
The following forms of payment are available to former TWA employees:
This form of payment is used to set up monthly distributions from your DAP account. Participants may elect to have the payments mailed by check or direct deposited into their bank account. Distributions take place after the Market close on the 15th day of the month unless the 15th falls on a weekend or Market holiday. In those cases, payments are made after the Market closes on the nearest business day before the 15th. Spousal Consent* is needed for this withdrawal.
This form of payment is used when a participant elects to withdraw a certain amount of funds from their DAP account. Participants may elect a funding source for this payment. They may also elect check or direct deposit. Spousal Consent* is needed every time a partial withdrawal is made.
This form of payment is used when a participant elects to ROLL-OVER a portion of their funds in the DAP to a qualified account (IRA) or a qualified retirement plan (such as another 401k plan). Two completed forms must be completed and submitted for this payment (Partial Withdrawal & Partial Roll-Over). Checks made payable to the new custodian for the benefit of the participant will be used for this type of distribution. Spousal Consent* is needed on every roll-over.
This form of payment is used when a participant elects to withdraw all their funds from the DAP and is not rolling-over the funds to a qualified account. Participants may elect to receive their funds by check or direct deposit. Spousal Consent* is needed for this withdrawal.
This form of payment is used when a participant elects to rollover 100% of their balance in the DAP to a qualified account (e.g. IRA) or a qualified retirement plan (e.g. 401k plan). Two completed forms must be completed and submitted for this payment (Lump Sum Withdrawal & Lump Sum Roll-Over). Checks made payable to the new custodian for the benefit of the participant will be used for this type of distribution. Spousal Consent* is needed on this roll-over.
Forms for the above payment types may be found on this website under “ONLINE FORMS”. Once completed they may be sent to the following address:
| Regular Mail: | Overnight Mail: |
| Directed Account Plan Service Center | Directed Account Plan Service Center |
| PO Box 770003 | 100 Crosby Parkway |
| Cincinnati, OH 45277-0065 | Mailzone: KC1F-L |
| Covington, KY 41015 |
Participants may also call the DAP service center at (1-877-489-2327) and request the appropriate form be sent to them by the service center.
*For distributions from funds sourced “Employer Contributions” ERISA Law requires the first form of payment for former TWA employees is to be in the form of a Qualified Joint and Survivor Annuity unless a participant would choose one of the payment options listed above. If a former TWA employee chooses a payment other than a Qualified Joint and Survivor Annuity, then the Participant, along with the Eligible Spouse must sign the “Election to Waive Joint and Survivor Annuity” section of the distribution forms. To receive quotes on a Qualified Joint and Survivor Annuity participants must contact the DAP office at 314-739-7373.