Millennium Trust Company is a provider of technology-enabled retirement, investment and custody services. It serves the needs of employers, financial advisors and individuals.
The Company provides self-directed IRA solutions and alternative asset custodial services. It also offers retirement services to corporate retirement plan sponsors.
It is regulated by the Illinois Department of Financial and Professional Regulation
Millennium trust company is a provider of technology-enabled retirement, investment and custody services for employers, financial advisors, institutions and individuals. It provides custodial services to a number of corporate retirement plans, including self-directed IRAs and alternative assets.
As a leading provider of specialized retirement and custody services, Millennium Trust empowers clients with unmatched service, access to a wide range of solutions and expertise they can count on.
Founded in 2000, Millennium Trust has grown to $26 billion in assets under custody and currently serves more than 1,100,000 individual accounts. In addition, the company has been recognized as one of the fastest-growing companies in the Chicago area for five consecutive years by Crain’s Chicago Business.
It offers IRA rollovers
Millennium trust company offers IRA rollovers to help people transfer their retirement funds from an old employer-sponsored 401(k) plan to a new one. Its team works to activate IRA accounts, process transactions and maintain account records and IRS documents.
In addition, it helps clients with self-directed IRAs and custodial services for retirement accounts. It also manages IRS tax filings and has experience handling IRAs with a variety of assets.
The company’s goal is to help individuals and business owners save for their retirement. It has a slick digital platform that streamlines the account opening process.
For example, it has a form editor that allows users to edit a millennium trust company withdrawal request without having to print out a paper version. The editor lets users add text, images, blackout confidential details, and more. It can also be used to draw signatures and upload files from other services, such as Google Drive or OneDrive. Lastly, it offers the ability to share with others through Shareable links or email attachments.
It offers workplace savings solutions
Millennium Trust Company offers workplace savings solutions to small businesses that aren’t a good fit for a 401(k). These IRA-based alternatives come with a one-time $250 start-up fee, no ongoing fees and no employer contributions.
To generate awareness for the company’s small business retirement solutions, Millennium Trust partnered with KCD PR to develop a comprehensive public relations strategy. This included a media outreach program that generated more than 85 unique stories in local and national publications.
In addition to generating brand exposure, the campaign helped the company position itself as a thought leader in the retirement savings industry. KCD also developed a research study that was used to identify the most pressing issues in the retirement savings landscape.
Additionally, the company partnered with Transamerica to provide emergency savings accounts for employees. This multi-provider approach is designed to offer employers a variety of options for their employees to save for emergencies. Both companies deliver the accounts through different strategies, including a partnership with SecureSave.
It offers missing participant searches
Missing participants are on the rise, and that is a problem for plan sponsors and their advisors. The latest statistics estimate that 25 million Americans are missing from their retirement plans, according to Terry Dunne, Senior Vice President and Managing Director of Retirements Services at Millennium Trust Company.
Fortunately, there is a solution to the problem. The key is finding a way to track down missing participants while still protecting the assets of current employees and keeping your plan on track for the future.
One of the most cost-effective ways to do this is to leverage a comprehensive search procedure. This includes a search for missing participants, contacting existing employees and other sources of information, as well as utilizing public and private pension registries with privacy and cyber security protections. Using these tools will save your plan from the pitfalls of missing participants while preserving the tax-deferred status of their retirement savings. And the best part is that these methods are free and covered by an enticing Department of Labor safe harbor.