FIRST:
Tell Us About You And Your Organization.
Prefix:
First Name:
Last Name:
Title:
Telephone Number:
(
Email Address:
Verify Email Address:
Full Legal Name of Employer who will sponsor this 401(k) Plan:
Number of Employees:
Address Street:
Address Street 2:
Address City:
Address State:
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Address Zip:
Is your organization a for-profit company or a not-for-profit organization?
Are You The Final Decision Maker Regarding The Implementation Of This 401(k) Plan?
If you are not the final decision maker, who will make the final decision, or under what process will your organization make this decision?
SECOND:
Let's Talk About What You Would Like To Accomplish With Your 401(k) Plan.
NOTE: The plan requirements and elections that you will have to choose from in this section are general in nature and typically the most common utilized by most plan sponsors. Since the actual requirements and elections that are available to you could be more extensive than those actually shown in this format, when we review your plan design submission we will provide additional counsel to you if we find that a more extensive election will better serve your specific needs.
Who Wants The 401(k) Plan The Most?
Employer
Employee
Equally Desired By Employer and Employees
Would You Prefer A Prototype 401(k) Plan That Fits Most Employer's Needs and Is Easier To Administer Or An Individually Custom Designed Plan That Can Accommodate More Complicated Requirements?
Prototype Plan
Individually Custom Designed Plan
In starting you new 401(k) plan you have the option of using an IRS approved prototype 401(k) plan which is typically easier to administer and less expensive - or - you may choose an individually "custom designed" plan that can accommodate more complex plan requirements. Our experience is that to start, unless your needs are outside of the prototype 401(k) plan, you really don't need an individually "custom designed" plan.
What Age Requirements, If Any, Do You Want For Participants Entering Your 401(k) Plan?
No Age Requirement
Employees Who Are At Least 18
Employees Who Are At Least 19
Employees Who Are At Least 20
Employees Who Are At Least 21
When Do You Want Employees To Be Able To Join And Begin Contributing To Your 401(k) Plan?
Enter Immediately On Hire
3 Month Waiting Period
6 Month Waiting Period
1 Year Waiting Period (Max Allowed By Law)
Other [Explain Below]
Waiting Period Comments:
Do You Want To Make An Employer Match Contribution To Your 401(k) Plan?
Yes
No
Each of your employees can contribute up to $10,500 per calendar year [2001] $11,000 [2002] to the plan; subject to IRS percentage pay limits. Would you like to provide your employees with the benefit of an "Employer Contribution Match"?
Our Organization Wishes To Match:
Discretionary Each Year
0%
25%
50%
100%
...of the pay that our employees contribute:
Discretionary Each Year
All
The First 1%
The First 2%
The First 3%
The First 4%
The First 5%
The First 6%
The First 7%
The First 8%
The First 9%
The First 10%
Example: If the formula is "50% of the first 6% of pay", an employee who contributes 10% of pay will receive a 3% match from the employer [50% of 6%]. Accordingly, your employee will experience a combined total employee/employer contribution of 13% of pay into his/her account.
If You Have Chosen To Provide your Employees With An Employer Match, Do You Want To Use A Vesting Schedule Or Vest 100% Of The Employer Match Contributions Upon A Participant's Entry Into Your Plan?
Use A Vesting Schedule
Vest 100% Upon Plan Entry
If You Choose A Vesting Schedule, Please Decide How You Would Like To Structure That Vesting Schedule.
Do You Want An Employee's Years Of Service Prior To The Start Of This 401k Plan To Be Counted For Calculating Vesting?
Count Prior Years Of Service
Do Not Count Prior Years Of Service
Do You Want Employees To Have Access To Assets In Their Accounts For The Purposes of Personal Loans Or Hardship Withdrawals? Which Should Be Allowed?
Loans Allowed
Hardship Withdrawals Allowed
Allow Both Loans & Hardship Withdrawals
Allow Neither Loans Or Hardship Withdrawals
THIRD:
We're Almost Done...
You may decide specifically how the plan's expenses are to be paid, either all or part by the employer or all or part by the employees. There are three areas of administration expenses to consider basically: (1) Plan compliance administration; (2) Plan Recordkeeping expenses, and (3) the plan's asset based investment services expenses. Typically, we see that employers prefer to pay the compliance administration and plan recordkeeping expenses; and since the investment expenses are asset based, have the employees pay the investment services expenses out of their individual accounts.
How Would You Like The Plan's Expenses Paid?
Has Your Organization Budgeted For your Plan's Expenses?
If You Have Budgeted For Your Plan's Expenses, How Much Have You Budgeted? Please explain:
How Would You Like To Make Your Plan's Investment Choices?
Comments:
When Would You Like To Establish Your New 401(k) Plan?
As Soon As Possible
Soon, But Not Right Away
We Are Not Sure At This Time
Questions or Additional Comments:
After receiving the above information we will prepare a full proposal for you and get back to you with the answers to your questions. We will also provide you with any suggestions or counsel that we may have concerning your new plan. Of course there is no cost to you for our proposal or for our advice.
Thank you for granting us the opportunity to compete for your business.
