Availability of consultants to discuss the plan with all advisors.
The initial plan design is modified, if required, to meet client's objectives.
Planning and Design
Employer Objectives are reviewed and defined:
Effective Date
Contribution
Benefit Formula
Eligibility
Minimum Age
Service
Other Exclusions
Normal Retirement Date
Early Retirement
Late Retirement
Disability Benefits
Pre-retirement Death Benefit (insured or non-insured)
Termination Benefits
Vesting Schedules
Timing of Payouts - Immediate or Deferred
Integrated Plan versus Non-Integrated Plan
One or Two Plans
Defined Benefit versus Defined Contribution
Fixed Cost versus Flexible Deposits
Controlled Businesses
Collect Business Profile
Name, Address, Telephone Number of Employer
Form of Business
Nature of Business
Fiscal Year End
Date of Organization
Date of Incorporation
State of Incorporation
Accounting Method - Cash or Accrual
Description of Other Qualified Plan(s) Maintained by Employer
Group of Controlled Businesses
Ownership Information Necessary for Discrimination Testing
Family Members
Collect Employee Data
Name of Employee
Date of Birth
Date of Hire
Salary
Officer Status
An initial plan is designed to meet the objectives with cost and benefit analysis, if appropriate.
The Presentation
Availability of consultants to discuss the plan with all advisors.
The initial plan design is modified, if required, to meet client's objectives.
The Installation
Draft plan documents based on finalized plan design.
Types of Plans
Defined Benefit/Cash Balance Plan
Defined Contribution Pension Plan
Target Benefit Pension Plan
Profit Sharing Plan/New Comparability
Age-Weighted Profit Sharing Plan
401(k) Plan
ESOPs
403(b)
Prepare resolutions, forms and other documentation required by the Internal Revenue Service and Department of Labor.
Resolution Adopting Plan
Application for Determination Letter for Defined Benefit Plan
Application for Determination Letter for Defined Contribution Plan
Census
Notice of Interested Parties
Announcement Letter
Notification of Purchase Bond
Summary Plan Description
Demonstration of Nondiscrimination
Submission to the Internal Revenue Service of all documents, forms, resolutions and other material to request letter of determination (if requested or appropriate)
Amendments as requested by the Internal Revenue Service for plan approval of plan maintained by employer
