Plan Design
The foundation of a successful group retirement plan begins with a plan design that corresponds to each employer’s current and future needs and employee demographics. AmRET® offers an organized, systematic and periodic plan review process that utilizes expertise of our legal, actuarial, and investment professionals. Each relevant design feature is examined with ideas to improve plan value. Some design features reviewed in our analysis include:
- Controlled Group Plan Set-Up and Design Alternatives
- Optimum Frequency and Educational Content of Employee Communications
- Complying with 404(c) Investment Guidelines and Requirements
- Management of the Conversion/Transition Process
- Eligibility Waiting Period
- Plan Entry Dates
- Elective Deferral Limits
- Employer Match Design and Funding
- Age and Service Requirements
- Definition of Financial Hardship
- Funding Timing for Employer Contributions
- Loan Provision Design
- In-Service Withdrawal Provisions
- Discretionary Contribution Formulas
- Vesting Issues and Design
- Plan Trustee Issues
- Increased Employee Deferral Limits and Employee Tax Credit Incentives
- Increased Employer Plan Contribution Deduction Limits
- The Relationship between Loan Incidence and Plan Participation
- Tiered and Age-Weighted Discretionary Contribution Formulas
- Online Participant Access for Account Balance Inquiry and Changes
- Key Personnel Internet Access to Plan and Participant Data
- Paperless Enrollment
- Electronic Transmittal of Payroll, Loan and Distribution Transactions
- Automatic Enrollment/Negative Election