401k Admin Manual - Seemybenefitsonline.com
Contents
1. PROCESSING Alliance Benefit Group processing procedures including new employees contributions amp transfers New Employees If you would like to add a new employee to the plan or if an employee has a rollover from another account 1 Distribute election or rollover form to employee See Figures Below leq weat DCAC LAZIGCTI karraoagitlr daret Hanson Haren Ed mn nm atts thre sat rA Ra ports al Fomr e Data walldaton Center amp Plan Oalance lop sg eoa wi bus abin nii hosa e acn piia yh et D H r akaki la bs 5156 52 099 72 Figure 2 1 Click View Forms Tab amp select appropriate form 2 Once received review to ensure all required information has been filled out Your plan may offer online and all signatures are obtained enrollment If so visit www abgretirement com enrollment 3 Submit completed election or rollover For further questions please contact er form to contributions abeg mn com your Account Manager Online Enrollment PROCESSING For new employees the employee will receive notification by mail when their individual account has been set up within the plan If your plan has opted for enrollment booklets please contact Beie your Account Manager as needed for any new orders deposit without paperwork for five 6 For rollovers checks must be made out as directed by your business days investment company Plea2. RETIREMENT PLAN RECORDKEEPING amp ADMINISTRATION Administrative User Manual VERSION Alliance Benefit Group 201 Hast Clark Street Albert Lea MN 56007 Phone 800 898 9344 e Fax 507 377 9103 www abgncs com Putting it all together for you DISCLOSURE This manual is intended solely as a guide and is subject to change without notice Please contact your Alliance Benefit Group Account Manager if you need further assistance Table of Contents SECTION 1 WELCOME TO ALLIANCE BENEFIT GROUP 1 Retirement Account Information Center 1 NSS IE Gre Ee e EE 1 Menus amp Features eoas teats tardies ceoacencneecateeaswnupsunciedesa cess dansiaawanceeecebanoeenneanceaneeacniens 2 VOICG Response WAM dE 3 Accessing Your CCOUNN so scssccdsancatenesmcenacsacte deanctacdeacensrisatueaiqacanaedeaacceaaacesnanmeadtes 3 SEC TON 2 PROCESSING EE 5 NEW dl S are catetettcb ne dares a annn aner mast ede nb py EE EEEa EE EENE SPAR A SSE EEE I ESEE E E S 5 Contribution NOMI AU OW EE 6 Daia Validation Center KEE 6 Transfers amp Changes aarp cerge arene crcincesclpc tices ce sete nctearnaisis eed ee antealenice aig atnoreeeteegebeiaee abarcedenceeeeed 6 LG UAT Ie ANSI E 7 MIO OC En e EE 7 Quarter End Processing amp Reporting cccccceeeeccecceeeeceeeeeeeeeeseeeeeeesssaeeeeeeeeeeeeeeaaaeeeees 7 SECTION 3 DISTRIBUTIONS cccccccccccceee ceceeeeecceaeeeeeeseeeeeeesaseecseeeeeeeaeeeesseeeesssaeeeeaas 8 koan FE VS AUTON
3. participant can choose to issue a check to pay off their loan at any time If an employee sends in a check to payoff their loan please send notification to contributions abe mn com to alert us of the separate submission To ensure proper placement of the funds the employee must reference the account in the memo field i e Fidelity Acct 999 999999 Employee Changes Throughout the year employees may need to update their personal contact information such as address or phone number An employee can make this change to their own account 24 7 via the participant web www abencs com amp select Participant You can send this information to contributions abe mn com or contact our Customer Service Representatives at 800 495 4015 Quarter End Processing amp Reporting At the close of each plan year quarter data is compiled on a cash basis and a valuation report is sent to the plan sponsor via the sponsor web Participant statements are then generated using this data These can be produced as a hard copy or as an e statement on the participant web DISTRIBUTIONS DISTRIBUTIONS This section goes through the distribution process for any money taken out of the plan and explains the different distribution methods ith general distribution procedures distribution forms can be requested via the plan sponsor web by visiting www abgncs com and selecting Employer Once logged in you can download the form under the Forms tab
4. ON Sere teat tart tonic er E ai bern E EEEE 9 FOW TO soiien ensen E ve pact gence ct oe nee banca an peepee neces E E aeannanue 9 Wille ue 9 ST RSR leide 10 FOW 10 ADIN E 10 In Service Distributions cece cecccceececescececeececeececeececsaeeseueeseuees saseeseeeseueeesueessaeessaseneas 10 OWT TONY EEN 10 Termination DISTIDUTIONS secesiecicecndinsus cenetdantacendduexantessnucesacxdecausudnedeawaeceersettansoasededeeaendoare 11 FOO Py E 11 Eege 11 Processing an RMD cxrc utrecniutiatraahiadieaintiadiesnanmieambaa bia leda EOR AEAN ANARAN 11 Rollover Dy SNS etre eared a ra a Enaid en as eiai oiera 12 Breechen 12 SECTHON G TES HNG EE 13 Non Discrimination Testing E 13 SECTION 5 FORM 5500 PREPARATION cccccccsecceecceeeeeeesaeeeeeeseeeeeeeeseeeeeseeeeaeaeees 14 Electronically Signing Form 5900 EE 14 Electroni gl 14 SECTION 6 DOCUMENTS A 16 EE ee 16 ODRO eet 17 www abgncs com Putting it all together for you INTRODUCTION WELCOME TO ALLIANCE BENEFIT GROUP An introduction to the Alhance Benefit Group Administrative User Manual and accessing your retirement plan elcome Alliance Benefit Group is excited to work with you and your retirement plan This user manual is your go to guide for procedural questions related to the day to day operation of your plan We encourage you to utilize this manual for convenient and quick access to recordkeeping and administrative procedures Your Account
5. See Figures Below Downloading a Form TS Weve Ascou tinfe Te sls Tharsacticrs f Welcome Derri Site pera SE oe Jul ale Be i Low z ets we OH 2 Met ersat kr r Pl COLIC DolZO1t ar vest t rg Departa KE Pha rullt dat Hansun lH ans oner a pcre ac r E ber d Kl odd THE fat Torma ES Laa leavy Lie yasi Pus patis Tal up aay hu lhe cur ap alari e Smr Aces yur cB Data Validation Cemer G T Hrs ein ear Ha zy mR SE SS Rm Seil un en Z IG lect frm Ce Ta ae orm Group None Mar balar ze 2 08 870 31 Briet Enkhee A i Actul rs Direct Rollo T nt d Bala g nce 5000 3 stribution Form Figure 2 0 Select Forms from Sponsor Web Figure 2 1 Click Distribution Form amp Submit to Download The forms will populate with the employee s current information and options specific to the plan 1 Distribute form to employee for completion following step by step instructions 2 Return form to Alliance Benefit Group for processing via fax email or regular mail as instructed on the form DISTRIBUTIONS 3 Alliance Benefit Group receives the form Special Mailing and verifies completeness Instructions re A ial mailing instructions 4 Processed and checks issued within 10 ee including wire direct deposit or business days overnight must be written in on the form If not noted otherwise all checks will be sent via regular mail Loan Distributions For plans that have lo
6. transaction screens within a participant s account you can easily switch from one participant to another Voice Response Unit Upon enrollment in the plan a memo will be sent to all participants containing a Personal Identification Number PIN this is what will be used to access the VRU Participants can conveniently access the retirement account 24 hours a day 7 days a week Our highly trained team of Customer Service Representatives is also available to answer questions Monday through Friday 7 a m to 6 p m Central Standard Time Accessing Your Account To access your account dial 1 800 495 4015 and choose prompt 2 fot customer service press prompt 3 Enter 1 for English 2 for Spanish Enter your Social Security Number Enter your PIN Except on major holidays VRU WEB Choose from the following options 1 Personal Account Information 1 NN OF WwW N 9 Balance Information Investment Information Helpful Hints Contribution Information If you know the selection you wish to access you can select that at any time Transfer Between Investments Pressing 21 will direct you to fund Confirm Ending Balances prices or pressing 1 will Return to Previous Menu automatically direct you to account balances 2 Current Investment Options 3 To Change PIN The star key will cancel almost any selection and will automatically 9 ToEnd Call return you to the Main Menu PROCESSING
7. Manager is the main point of contact for any plan related questions Should you have additional questions that are not addressed in this manual please call 1 800 898 9344 and ask to speak to the Account Manager assigned to your specific plan Retirement Account Information Center Accessing your retirement plan account is made easy in two ways online via the web or by phone using our Voice Response Unit VRU Website Navigation Our website enables the plan sponsor advisor and participant online access to view and manage your entire account online 24 7 View reports utilize special tools review personal information and keep up to date with important announcements all through one site VRU WEB Menus amp Features You must log in to the site by visiting www abencs com Login selecting the appropriate role user name amp password m Click on your plan Login MOO Lama User II or Password SHE 2 j O Problems Viowlag the Slice Saye __ e je srt inde Pat gaan User id Password Select Role CZE Suan Teale b mri m u allmzmiecul ngi ein Rel n cm tat en aha n Inc SEIS Subs dices inthe US nd othe osurincs A otaerinie wmes am ide sake ot eg Ae For Participants cach will receive directions on accessing their account upon enrollment in the plan For problems logging in or questions on navigating through the site please contact Alliance Benefit Group s Call Center at 1 800 495 4015 For P
8. NS Rollover Systems If a plan has an IRA option of 0 5 000 or 1 000 5 000 an IRA must be set up to abide with the plan document stating that terminated participants with balances less than 5 000 must be forced out of the plan If an IRA provider is not available with the client Aliance Benefit Group will use RolloverSystems Alliance Benefit Group also offers a one time service sending a distribution form to terminated participants with balances exceeding 5 000 such amounts cannot be forced out Processing a Rollover 1 Termination dates are submitted to Alliance Benefit Group through payroll file or email amp entered in our Data System 2 A weekly upload of these dates is submitted to RolloverSystems 3 RolloverSystems sends letters to these terminated participants and a timer of 60 days begins 4 Ifno distribution form is recetved within 60 days amp a balance still exists Alliance Benefit Group will first verify the termination status has not changed and will then automatically pay these participants out in accordance with the IRA option chosen by the plan 12 TESTING TESTING This section outlines the testing procedures for your plan to ensure regulatory complante Group of any changes that were made to the plan or employer structure during the previous 12 months This request will accompany the year to date census file If we do not receive the complete data for a plan throughout the ye
9. anager is instructed to split the account and proceed with distributing the assets as allowable by the Order 17
10. ans available loan forms can be found on the plan sponsor website or by calling the Alliance Benefit Group Call Center and requesting a form Note Proof must be Unless the plan only allows for hardship loans a loan can be provided when applying taken out for any purpose and will be included on the application as a selection for a hardship loan How to Apply 1 Download a Loan Form from the Sponsor web See Figure 1 0 amp 1 1 on downloading forms pg 5 2 Obtain completed form from employee including length desired max 5 years for personal loans and requested amount max is 50 of your account balance not exceeding 50 000 3 Submit the form to Alliance Benefit Group as instructed on the form 4 Alliance Benefit Group receives the form and verifies completeness 5 Processed and checks issued within 5 business days Upon processing the loan a loan amortization schedule is provided to the plan sponsor The payment dates go according to the pay schedule for the participant in our system If the pay date or frequency is incorrect please contact Alliance Benefit Group to make appropriate adjustments a new amortization schedule will be sent Once received payments are to start as instructed until the loan is paid off If the loan is not paid by the due date it will become taxable Principal Residence Loans Principal Residence Loans are available for the first time purchase of your dwelling Procedures for applying are
11. ar a census file will be requested at year end ach year the plan sponsor is sent a Data Request to inform Alliance Benefit Non Discrimination Testing Once all data has been verified the appropriate annual non discrimination testing is completed The following tests are completed based on the provisions of the plan Actual Deferral Percentage Test ADP Actual Contribution Percentage Test ACP Excess Deferral Test 402 g Minimum Coverage Test 410 b Non Discrimination Test 401 a 4 Top Heavy Test m Annual Additions Test 415 Employer Deductibility RS Plan Level Limitation 13 FORM 5500 FORM 5500 PREPARATION A step by step guide to submitting your Form 5500 fter your year end testing is completed your Form 5500 Annual Return Report of Employee Benefit Plan will be completed by Alliance Benefit Group Please note that this is for full service clients only If your plan is a large plan requiring an annual independent audit before your Form 5500 can be prepared we will provide your auditor with an Audit Pack containing several reports they will need in order to perform the audit They may also request some items directly from the plan sponsot Once the auditors have prepared a draft of your audit report they will need to provide it to Alliance Benefit Group to be used in the preparation of the Form 5500 Electronically Signing Form 5500 Once the Form 5500 has been prepared by Allianc
12. are allowable under the plan the selection will display on the distribution form This option is available only for participants that fall under the defined age category and are still employed i e 59 How to Apply 1 Download a Distribution Application from the Sponsor web for employee See Figure 2 0 amp 2 1 on downloading forms pg 8 2 Obtain completed form including the requested amount from employee Requested amount can be taken in a lump sum mandatory 20 withholding applies or rollover 3 Submit the form to Alliance Benefit Group as instructed on the form 4 Alliance Benefit Group receives the form and verifies completeness 5 Checks issued within 10 business days 10 DISTRIBUTIONS Termination Distributions Upon termination a distribution form can be given to the employee for completion All information must be completed informing Alliance Benefit Group of the termination date last payroll date and accurate hours for vesting if applicable In accordance with the plan document termination distributions may be taken in lump sum installments rollovers or if the minimum dollar amount requirement is met defer to stay in the plan How to Apply 1 Download a Distribution Application from the Sponsor web for employee See Figure 2 0 amp 2 1 on downloading forms pg 8 2 Obtain completed form from employee and include important dates amp hours for vesting 3 Submit the form to Alliance Ben
13. ate of return information for each fund available in the plan Categories Screen Provides plan demographic data primarily utilized for plan administration in order to calculate amp allocate contributions and conduct plan testing VRU WEB TOOLS Reports Screen Provides reports of plan activity for user selected periods or Quick Links participant activity for user selected participant l Links can be used to Forms Screen Provides forms for the plan including distribution forms and access info within the enrollment forms website as a guick link Validation Center Screen Provides for the electronic upload of payroll information DER Layout Screen Provides for a detail description of the file format needed for electronic submission of the payroll info DER stands for Data Entry Routine Plan Limits Provides information on plan limits Contact ABG Provides access to our Alliance Benefit Group team for any questions or inquiries TRANSACTIONS All Transactions Screen Provides a history of transactions that have occurred in each participant s account with user ability to sort the information in multiple views Web VRU Requests Screen Provides a history of transaction requests made by participants on either the website or VRU TRANSACTION ENTRY Transaction Entry Access Similar to the EE Search function this tab provides access to y gt P participant account information This is a great tool for accessing
14. e Benefit Group you will be notified via email that it is ready to electronically sign using the following procedures Electronic Signature Log in to the plan sponsor website Alliance Benefit Group has established for your retirement plan s If your company has more Gi than one login you must use the one assigned to you Once logged in you will be able to access your Form 5500 Filing Step 1 Tools gt Web Client Opens the web page to review sign and print your Form 5500 Step 2 View Planbooks sg Select Planbooks item from the Main Menu 14 FORM 5500 NEED MORE ASSISTANCE If you have any problems accessing the website or signing the Form Step 3 View Plan Details 5500 please contact your Alliance Benefit Group Account Manager Select Planbooks Select desired year to view View Forms to display a list of forms Step 4 Signing Filing Return to Plan List amp select e File from the Actions column of the Planbook grid Walk through signing ceremony applying your User ID amp PIN code Filing Signer Credentials Agree to the Perjury Statement amp select the Agree amp Save button Step 5 Print Forms Select Print from the Action column of the Planbook grid 15 DOCUMENTS DOCUMENTS Keeping your plan document up to date with legislative changes and discretionary modifications uring the conversion or establishment of your plan to Alhance Benefit Group you will determine whe
15. efit Group as instructed on the form 4 Alliance Benefit Group receives the form and verifies completeness 5 Checks issued within 10 business days 70 5 Distributions Fach year Alliance Benefit Group will run reports and contact the employer to verify any participants that have obtained the 70 5 status Once these lists are verified a 70 5 Required Minimum Distribution Election Form RMD is sent to the participants explaining their available options fno longer working or a 5 owner they must take a distribution If still working and not a 5 owner they may postpone their election This process typically takes place during the second 2 half of the year however participants may call in to elect their RMD at any ame during the year Processing an RMD 1 Upon receipt of report from Alliance Benefit Group verify any participants that have obtained the 70 5 status 2 Alliance Benefit Group sends participant RMD including their available options 3 Complete amp submit the form to Alliance Benefit Group 4 Alliance Benefit Group receives the form and verifies completeness 5 Processed amp or checks issued within 10 business days Note If forms are not returned to Alliance Benefit Group the distribution will be paid out to terminated participants and no taxes will be withheld For non terminated participants ABG will confirm their status and ensure that they have not had an RMD in the past 11 DISTRIBUTIO
16. lan Sponsors upon the conversion of your plan you will receive a guide and login information to the plan sponsor website This website offers several menus amp features that will assist you in monitoring plan activity providing management reports responding to requests and general plan administration These features include EE SEARCH All Transactions Screen Provides access to participant s account information A search bar is also available on any screen for your convenience ACCOUNT INFO Plan Summary Screen Provides plan information such as plan name plan year number of ry p p plan year participants frequency of contribution processing status of top heavy testing and a report of plan assets showing balances by investment fund and by source of contribution Plan Balance Screen Provides current balance information by source of contribution and by investment option For each source with a balance the individual fund balances can also be displayed In addition this screen will provide all pending trades by source and by fund By clicking on a model name you will see the underlying funds and percentages for that model Investment Profiles Screen Provides a listing of plan investment options the Morningstar asset class for each fund option and the current price per share for each fund In addition this screen provides links to Morningstar for additional fund information Investment Returns Screen Provides r
17. se check rollover paperwork for specific instructions and complete checks accordingly i e investment company amp or plan name This check must accompany the employee s rollover paperwork Contribution Information Sending your contribution information can be done using the Data Validation Center DVC Data Validation Center DVC Each payroll period log in to the Sponsor web and follow the steps below 1 Upload your contributions to our secure DVC via the web Reference your DVC Manual for detailed instructions 2 We will receive automated notification once your file has been uploaded directly to our system Pa Payroll Files 3 If funds are pulled for the contributions we will initiate EE D Bee j the pull within 1 business day of receiving the file CECR based on the allocations for Otherwise we hold the file until funds are received each participant at the time of the file submission If an employee wants to make a transfer or allocation change on their account they can do so 24 hours day by logging on to the web at www abencs com and selecting Participant Please note Je participant must print a copy of the confirmation number for their records no confirmation is mailed out for such changes made online This confirmation can also be retrieved under the Reports link in the Tools menu PROCESSING Loan Payments Generally loan payments are processed with the contribution file however a
18. the same though you will need documentation of the home purchase when applying This type of loan can be taken out for a longer period of time possibly 10 15 years depending on the loan provisions in the plan The requested dollar amount restrictions will remain the same DISTRIBUTIONS Hardship Distributions Once all other means for requesting money from the plan have been exhausted a hardship distribution if allowable under the plan may be completed If the plan allows for loans a denied loan form must be submitted to Alliance Benefit Group before processing a hardship distribution Hardship distributions can be restricted to only certain funds and sources per the plan document This may include the inability to take your gains on contributions as a hardship How to Apply 1 Download a Hardship Distribution Application from the Sponsor web for employee See Figure 1 0 amp 1 1 on downloading forms pg gt 2 Obtain completed form from employee including the requested amount and appropriate documentation regarding their hardship to be kept on file with the plan sponsor 3 Submit the form to Alliance Benefit Group as instructed on the form 4 Change deferral elections to zero 0 for the period of time elected by the plan i e 6 months to 1 year 5 Alliance Benefit Group receives the form and verifies completeness 6 Checks issued within 10 business days In Service Distributions If in service distributions
19. ther or not Alliance Benefit Group will re state your plan document and if so your advisor will work with you on the design of your plan Please consult your advisor to determine if you will file with the IRS for a Determination Letter Your plan document must be kept current with all legislative changes required by law Alliance Benefit Group will keep you apprised of any such mandates If you elect discretionary modifications you must notify your Alliance Benefit Group Account Manager for a plan amendment Remember If you would like to make modifications to your If your Plan Document is written and plan as mentioned above contact your Account maintained by an outside provider Manager with your requests please work with them for any mandatory or discretionary amendments Once the amendment is complete you must distribute a Summary of Material Modification to all employees Alliance Benefit Group cannot amend a document that another party has created 16 QDRO Process Qualified Domestic Relations Orders QDRO are submitted to your Alliance Benefit Group Account Manager The Alliance Benefit Group Compliance Department will then review the form and work with the attorneys that drafted the Order for any revisions required to conform to the plan s written QDRO Procedure The QDRO is then sent to the Plan Administrator to approve h ra Once the approval is received the Alliance Benefit Group Account G M
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