When a partner/employee leaves the firm, many times they choose to leave their retirement account investments in the Lathrop & Gage LLP retirement plan. As long as you have at least a $1,000 account balance, you may leave your funds in the plan as long as you wish. You should be receiving statements from AGH, the firm’s record keeper, on a quarterly basis. You may access your account online 24/7 at www.benefitwebaccess.net/AGH or by phone at 877.410.9984 (for Wichita residents the number is 877.267.0180).
However, since you are no longer with Lathrop & Gage, it may be in your best interest to roll your account over into an Individual Retirement Account (or into your current employer’s plan, if applicable). You have more direct control over your own IRA, and more flexibility to withdraw amounts quickly, if you need to, without going through the firm. Moreover, by selecting your own investment mix, based on your financial goals and risk tolerance, you should be better able to achieve those goals. Depending on the IRA you chose, you also may receive more frequent reports on your investment results, and if your plan account is individually directed, you may be able to save fees by transferring your money to an IRA or to another retirement plan.
Should you choose to roll your account balance to your current employers plan or an IRA, you may do so at any time. To obtain the necessary forms to complete a rollover or for any other questions regarding the plan, please contact Shelly Gronau, Payroll & Benefits Manager, at 816.460.5663, or email@example.com.