CORPORATE AND INSTITUTIONAL FAQS

A fund transfer is when you move money that is already in your account from one investment fund to another. A fund transfer affects only your current balance; it does not change where your future contributions will be invested.

Online Retirement Services Network instructions

1. Log on to your account via the Retirement Services Network.
2. Select the Change my Investments tab on the left navigation bar.
3. Select Redirect Current Balance Only, and then choose Redirect Current Only, Fund Transfer by Money Type, Fund Transfer by Percentage, or Fund Transfer by Amount (your options may vary depending on what your plan offers).
4. Enter the percentage or amount and click Submit.
5. Verify accuracy and then click Confirm.

Automated Participant Account Services (PAS) Line instructions
Call (800) 377-9188 24 hours a day, seven days a week, and access your account.

• Press 2 to access the Investment Change menu.
• Press 3 to Redirect Current Balance Only. Under this option, depending on what your plan offers, you can also make fund transfers by percent, dollar, or money type.

Investment elections are how you choose to invest your future contributions for employee directed money. Changing your investment elections affects only your future contributions; it does not change where your current balance is invested.

Online Retirement Services  Network instructions

1. Log on to your account via the Retirement Services Network.
2. Select the Change my Investments tab on the left navigation bar.
3. Select Redirect Future
4. Enter the percentage or amount and click Submit.
5. Verify accuracy and then click Confirm.

Automated Participant Account Services (PAS) Line instructions

Call (800) 377-9188 24 hours a day, seven days a week, and access your account.

• Press 2 to access the Investment Change menu.
• Press 4 to Redirect Future Contributions Only

You can transfer your current balance and change your investment elections to the same investment mix all in one step. 

Online Retirement Services Network instructions

1. Log on to your account via the Retirement Services Network.
2. Select the Change my Investments tab on the left navigation bar.
3. Select Redirect Current Balance and Future Contributions
4. Enter the percentage for each fund and click Submit.
5. Verify accuracy and then click Confirm.

Automated Participant Account Services (PAS) Line instructions

Call (800) 377-9188 24 hours a day, seven days a week, and access your account.

• Press 2 to access the Investment Change menu.
• Press 2 to Redirect Both Current and Future Elections

Although you cannot choose specific stocks, you can choose from your plan’s selection of mutual funds. Mutual funds are investment vehicles that invest in a collection of stocks, bonds and/or money market and stable investments.  A portfolio manager works with a team of analysts to make investment decisions that support the mutual fund’s stated objective. The team's goal is to get the best possible return on your investment while minimizing risk.

Online Retirement Services Network instructions

If you satisfy plan requirements, you can apply for a loan online by clicking Loan Modeling under the Loans tab.

Automated Participant Account Services (PAS) Line instructions

• Call  (800) 377-9188, and enter your Social Security Number and PIN.
• Press 3 to access the Loan menu.
• Press 1 for information on existing loans, Press 2 for the loan amount available, Press 3 for payment projections, and Press 4 to apply for a loan.
• If at anytime you need assistance, Press 0 and a representative will be happy to assist you with the loan application and questions.

Participant Account Services instructions

• Call (800) 377-9188 and enter your Social Security number and PIN.
• Press 0 to speak to a Participant Account Services Representative between 7:00 a.m. and 10:00 p.m. ET Monday through Friday.

When you terminate your employment your entire loan balance becomes due.  To avoid adverse tax consequences (described below), you must repay the loan in full before the loan payment deadline.  The loan payment deadline is the earlier of (i) the date Wachovia processes your distribution from the Savings Plan or (ii) sixty days from the date your employment ends. 

If you do not repay the loan in full by the loan payment deadline, your loan balance, including interest accrued to the date of offset, will be offset/foreclosed approximately 60 days after the date in which your termination is reflected on the payroll system.  An offset/foreclosure means your account balance in the Savings Plan will be reduced by the amount of the loan (plus accrued interest) you have not repaid.  In addition, unless you meet one of the exceptions, the unpaid loan balance will be considered a taxable distribution subject to a 10% early distribution penalty.  Also, you must report the unpaid loan balance (plus accrued interest) as taxable income on your individual tax return.

This is not intended to constitute tax advice.  Tax issues can vary among individual participants. You should consult your personal tax advisor for tax consequences applicable to your personal situation.

A redemption fee is assessed to a participant’s account based on the number of days between a purchase into and sale out of a specific fund as determined by the mutual fund company. Redemption fees are charged by the mutual fund and paid out of the participant’s account. Please read the fund’s prospectus for more information about the fund and redemption fees.