There are a couple reasons you can send money into your retirement plan with us.
- Rolling over prior retirement account(s) into this one.
- Making early loan payments.
Unless making payments on a loan, a personal check is generally not accepted into your plan and will be returned. If you have questions on your plan’s provisions, reach out to us.
To send money into your account:
You will need to initiate a rollover with your previous retirement plan provider, whether it’s an IRA or an employer-sponsored plan like a 401(k).
- Login to your account at erisa.net/participant.
- Retrieve the 6-digit account number displayed in the banner at the top of the screen.
- If you’re rolling over funds, initiate the rollover with your prior provider.
- Ensure the check gets sent with the instructions below. The check must include the 6-digit account number you retrieved from your account. It will be returned if there is no account number.
Make Check Payable To: Charles Schwab Trust Bank FBO [Your Name]
Regular Mailing Address: Charles Schwab Trust Bank, P.O. Box 981766, El Paso, TX 79998
Overnight Mailing Address: Charles Schwab Trust Bank, El Paso Operation Center, 1945 Northwestern Drive, El Paso, TX 79912
FAQ
What happens when you receive the check?
Once it is deposited, it will be invested in your current investment elections. If you haven’t reviewed those lately, check out our article to assist you.
Am I penalized for paying off a loan early?
No! You’re free to make payments as early as you want.
I have a loan with my last retirement plan, can I roll that over too?
You will first need to check that your prior provider allows the loan note to be rolled over. Additionally, you can open a ticket with us to confirm if your current employer’s plan accepts loan notes.
We’ll work with you on getting the loan details, once we know that it can be accepted.