SPONSOR SERVICES
The goal of our sponsor services is to decrease your administrative burden, while increasing your ability to manage the plan as efficiently and effectively as possible. This objective influences everything we do from conversion through ongoing recordkeeping and service.
Conversion—by combining a dedicated team, a proven, timeline-based process and a focus on performance management, we are able to transition your plan in as timely, accurate and seamless a manner as possible.
Recordkeeping—using our Nowtrac(k)® proprietary recordkeeping system, we provide complete and quick daily valuation recordkeeping services, with set service guarantees:
- Contributions confirmed within three business days
- Participant statements mailed within 15 business days of end of reporting period
- Interim statements mailed within two days of request
- Sponsor reports mailed within 10 business days of end of reporting period
- Full reporting of trust assets within 10 business days after end of reporting period
- Call center representatives answer 90% of calls within three rings
- Same-day exchanges honored if received by 4:00pm ET
- Loan checks mailed within five days (if received by 1:00pm ET
- Distribution proceeds mailed within five business days of approved participant request
- ADP/ACP testing completed within two ½ months of plan year (assuming data is received within 22 days of plan year end)
- Form 5500 mailed 10 calendar days before the filing deadline (if complete data is received 60 calendar days before filing deadline)
Compliance and tax reporting services—We perform the following tests and services:
- Annual additions limitations: 415(c)
- Annual discrimination testing ADP/ACP: 401(k) and 401(m)
- Monitoring of elective deferrals: 402(g)
- Annual top-heavy testing: 416(c)
- Form 5500
- Form 1099
Additional services:
- Secure file transmission via Internet
- Directed trustee services
- Sponsor reporting services
- Sponsor access to information
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