FAQ and Glossary
Where can I get more information about what my plan allows?
Your plan’s Summary Plan Description (SPD) outlines the provisions of your plan. The SPD can be obtained by logging into your account and clicking on Tools>Forms and choosing the Summary Plan Description. You may also send a request via the Contact Us section of our website or call AMI and request a copy.
How often can I change the amount withheld from my paycheck?
Each plan sets up its own rules for how often you can change your deferral amount and how these changes must be made. Refer to your plan’s SPD for more information.
Is there a limit to the amount that I can contribute to my retirement plan?
Yes. Your plan may impose a limit (refer to your SPD). The IRS has limits that are set each year. More information can be found at the IRS website at IRS Link.
Where can I get more information on the mutual fund investment options in my plan?
You can log into your account on AMI’s website. If you click on any place where a mutual fund name appears in blue, you will be linked over to more information concerning that fund. You may also refer to the annual 404a-5 (Fee Disclosure) notice for website addresses for the specific funds, as well as performance and information for all of the investment options that appear in your plan.
How do I change my address with AMI?
There are two ways you may change your address with AMI. You may choose either of them.
- Go to the gear settings icon on the upper right hand side of the screen and change your address.
- Ask your employer to notify AMI of your new address.
How do I change my beneficiary?
Go to the gear settings icon on the upper right hand side of the screen and enter your beneficiary information.
What are your customer service hours?
Our phones are live answered on Mondays from 9:00 am-12:00 pm and 1:00 pm-6:00 pm, on Tuesdays through Fridays, from 9:00 am-12:00 pm and 1:00 pm-4:00 pm. we have an additional live answer phone hours on Thursday from 4:00 pm - 5:00 pm You may also submit a question via the Contact Us section of the website. You should have a response within one business day.
Can I take a loan from my plan?
Refer to your plan’s SPD to determine if your plan permits loans and the conditions for plan loans. The Request for Loan form can be found in the Forms section of the AMI website. This form can be emailed to firstname.lastname@example.org or faxed to 1-866-436-6703. For more information on plan loans, refer to the IRS website at Loans Link.
I am terminated. How do I get a distribution from the plan?
Contact AMI and we will verify your employment status with your employer. Once they have verified that you are terminated, we will send distribution paperwork to your address of record.
I have sent back my Distribution Election Form. How long will it take to get my money?
If your plan is an active and ongoing plan, you can contact AMI for a status update two weeks after you send back your Distribution Election Form. You may submit your inquiry at the Contact Us section of the website or call us directly at 800-451-2865. If your plan is being terminated, the distribution should take place approximately three weeks after the date listed on your Distribution Election Form.
Will my distribution be taxed?
Please see the IRS website at IRS Link for information about the taxation of retirement plan distributions.
Can I take a hardship withdrawal from my plan?
Refer to your plan’s SPD to determine if your plan permits this type of withdrawal. You may also refer to the IRS website for more information at Hardship Link. The request form can be found under the Forms section of the AMI website.