Setting Up IRA Payout Settings (1)

Screen ID:	UIRAPY-01
Screen Title:	IRA Payout Information
Panel ID:	2311
Tool Number:	898
		Click here to magnify

Access this screen by selecting Tool #898: IRA Payout Information.

This is the first of two screens used to record information about a member's wishes for handling the payout of his or her IRA plan. Payout is required when a member reaches 72 years of age, and this system lets you record how payout is handled for a particular member.

Enter an account base and use Enter to proceed to the second screen.

Go Back to a Previously-Used Account

If you want to access a membership you used recently, click the lookup next to the Account base field. The Your Most Recent Accounts Accessed pop-up window will appear.

• NOTE: The system will check the member's IRA Balance File records, and access will not be allowed unless a balance file exists for this member (meaning they have an actual IRA share or certificate account). If no IRA account information is found, the following message will appear:

 1602-No IRA balance file information found for member. Please correct.

You may either enter a different account number, or use the up arrow (Cancel/F7) to return to the Home Page and proceed with any account creation that is necessary.

CU*TIP: The IRA Required Minimum Distribution Inquiry is a calculation tool that can be used to perform “what if” scenarios using various member information, to assist a member in deciding how his or her payout instructions should be set up.