I have a retirement plan. How can I change my investment allocations?


You may change your investments in one of three ways:

  1. Reinvest all or a part of your money: This option allows you to exchange assets from one investment vehicle to another (one to one or one to many)
  2. Change how things are balanced now: This option allows you to rebalance all assets into one or multiple investment vehicles within the plan (many to many, many to one, one to many, one to one)
  3. Change where your contributions go in the future: This option allows you to change your future investment elections.  This change only applies to new contributions made to your account.
  4. Tax form questions:

    Form 1099-R is used to report the distribution of retirement benefits from an account.  If applicable, these forms are sent to participants by January 31 each year.

    Form 5498 is used for reporting regular or rollover contributions and value of an IRA, Roth IRA, ESAs, SEP, or SIMPLE IRA. This form does not need to be filed with the owner's Tax Return (1040) - it simply needs to be reported. Security Benefit is only required to notify IRA, Roth IRA, ESA, SEP and SIMPLE IRA owners of their Fair Market Value. IRA contributions and rollovers are reported to the client by May 31 of each year. (The form is only issued if a contribution or rollover occurred during the year).

The information presented here is not specific to any individual's personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.