ÌìÃÀ´«Ã½

Paper checks. Snail mail. Weeks of waiting. For nearly half of all 401(k) rollovers, this outdated process is still the norm—and it’s a serious problem, not just for convenience, but also for security.

For example, in June 2025, The New York Times reported how a retirement saver lost a staggering $114,000 due to mail fraud. Two rollover checks, intended to fund his IRA, were stolen from the mail and cashed by criminals. Months later, he’s still trying to recover his hard-earned money.

This wasn't an isolated incident. The vulnerabilities of the traditional rollover process are widespread. Common pain points include:

• Manual processes and paperwork delays: Traditional rollovers are often slowed by incomplete or inaccurate forms and the time-consuming steps of mailing, processing and reconciling checks—leading to frequent errors and bottlenecks that can stretch the process to 38–40+ days.
• Check headaches: The risks of checks expiring, being misdelivered, or getting lost are ever-present. For instance, it’s common for participants to miss the IRS-mandated 60-day window to deposit their rollover checks, leading to returned checks that further bog down operations, complicate reconciliation and hold up the entire rollover process.
• Fraud: With checks passing through multiple hands, the risk of interception and fraud is alarmingly high. Between 2021 and 2023, Suspicious Activity Reports (SARs) related to check fraud filed by financial institutions nearly doubled, according to the FBI.

Every check sent through the mail becomes a potential target, and each manual form introduces another opportunity for error. Meanwhile, bad actors are becoming increasingly sophisticated. The traditional 401(k) rollover process is not only outdated—it exposes individuals to significant financial risks and potential losses.

RolloverCentral®: A Better Way Forward

ÌìÃÀ´«Ã½â€™s RolloverCentral replaces this outdated process with a secure, fully digital experience that eliminates paperwork and mailing delays, and reduces fraud risk. From start to finish, rollovers are handled online—fast, intuitive and automated.

Proven Impact:

• 87% faster funding: RolloverCentral shortens funding timelines from an average of 38+ days to just 3–5 business days.
• Under 20 minutes to complete the rollover: Participants can initiate and complete their rollover online—no calls, no paperwork.
• 18+ minutes saved in call center time per rollover: Lower volume of complex support inquiries reduces operational strain.
• Direct transfer of plan savings into IRAs via ACH: No checks, no mail, no chance of interception.
• Account validation: Verifies existing IRA account numbers for funding purposes.
• Eliminates physical checks: Reduces print, postage and material costs.
• Built-in fraud protection: End-to-end digital automation removes manual touch points and reduces risk.

A Modern Experience for Participants:

• Educates and supports participants at the time of distribution.
• Provides an easy, streamlined and secure process.
• Offers a choice of leading IRA providers.
• Compare IRA options side-by-side.
• Supports new IRA account openings and rollovers to existing IRAs.
• Track the status of the rollover in real time.
• Get invested faster—with funds arriving in as little as 3–5 days.

RolloverCentral isn’t just a better experience—it’s a smarter, safer and more efficient way to handle rollovers for everyone involved. To learn more about how RolloverCentral improves the traditional rollover process, watch our "Streamlining IRA Rollovers: A Smarter Approach for 2025" video.