Part II: Plan
Information... |
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Note: |
Complete the below ONLY
if your company already has a retirement plan and will be having
401(k) Easy replace that plan.
If the 401(k) Easy plan will
be your company's first retirement plan ever, please use our
First Plan Order
Form instead of this Plan Conversion Order Form. Thank you.
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| ... regarding your existing plan and
its conversion into a 401(k) Easy 401(k) plan |
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19)
What
type of plan do you want converted into a 401(k) Easy plan? |
Profit-sharing plan (without 401k features)
Defined benefit plan
Other (please describe):
Unsure.
Please contact me with help regarding this item.
Exact name of your current plan as listed on your current plan documents
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20)
Approximate
size,
in assets,
of your existing plan: |
No retirement plan (STOP!!! Please use our First
Plan Order Form instead
of this Plan Conversion Order Form. Thank You.)
Less than $250,000
$250,001-$500,000
$500,001-$10,000,000
More than $10,000,000
Unsure. Please contact
me regarding this item.
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21)
Potential
size,
in number of employees,
of your 401(k) Easy plan:
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Number of full-time employees
currently on your payroll:
2-4
5-10
11-15
16-20
21-25
26-30
31-35
36-40
41-45
46-50
more than 50
Unsure. Please
contact me regarding this item.
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22)
Existing
plan's in-house Plan Administrator: |
Please name
your company's in-house plan administrator (that is, the person
at your company who has been handling any 401(k)-related matters
and interacting with the outside administrator servicing your
plan). Please include his/her title (such as "Controller"),
if applicable:
Administrator's
phone number: , and e-mail address is .
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23)
...and
for your
401(k) Easy plan? |
Will the same person serve
as Plan Administrator for your 401(k) Easy plan?
Yes
No. will serve as Plan Administrator for our 401(k) Easy
plan. His/her phone number is , and e-mail address is . His/her title is .
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24)
Existing
plan's Trustee(s): |
Please name
your existing plan's Trustee(s), including his/her/their title(s) (such as "CFO"),
as applicable:
Current
plan's Trustee(s) phone number(s):
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25)
...and
for your
401(k) Easy plan? |
Will the same person(s)
serve as Trustee(s) for your 401(k) Easy plan?
Yes
No
If "No", please
name the Trustee(s) for your 401(k) Easy plan. Please list each
new Trustee's name, title and phone number:
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26)
Compliance
test history for your existing plan: |
Did your
plan pass last year's compliance tests?
Yes
No
Unsure. Please contact me regarding this item.
Does your
plan limit the definition of Highly-Compensated Employees to
"the top 20% of employees"?
Yes
No
Unsure. Please contact me regarding this item.
Do you want
to change this definition for your 401(k) Easy plan?
Yes
No
Unsure. Please contact me regarding this item.
Is your
plan currently top-heavy?
Yes
No
Unsure. Please contact me regarding this item.
Date of
last battery of compliance tests:
Unsure. Please contact me regarding our last battery of compliance
tests.
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27)
5500
Series filing: |
For what year was your last
plan 5500 series filing with the IRS?
Unsure. Please contact me regarding
our last 5500 series filing year.
Date filed (month, year):
Unsure. Please contact me regarding
our last 5500 series filing date.
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28)
Plan
Year
for your existing plan: |
On what
Plan Year does your existing plan operate?
Calendar year (January 1 - December 31)
Other:
Unsure. Please
contact me regarding this item.
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29)
Plan
inception date
for your existing plan: |
When was your current plan
established?
month: year:
Unsure. Please contact me regarding
this item.
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30)
Age
requirement used for participation
in your existing plan: |
What age
requirement is currently being used for participation in your
existing company plan?
None
20 1/2
21
Other (please specify):
Unsure.
Please contact me regarding this item.
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31)
...and
for your
401(k) Easy plan? |
What age requirement do
you want use for your 401(k) Easy plan?
Keep existing plan's age requirement for 401(k) Easy plan
Change age requirement to "None" for 401(k) Easy plan.
Change age requirement to "21" for 401(k) Easy plan.
Change age requirement to for our 401(k) Easy plan.
Unsure. Please contact me with help regarding our 401(k) Easy
plan age requirement.
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32) Length of service requirement
for participation
in your existing plan: |
What length
of service requirement is currently being used for participation
in your existing company plan?
None
Three (3) months of service
Six (6) months of service
1 year of service
Other (please specify):
Unsure. Please contact me regarding
our current length of service participation requirement.
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33)
...and
for your
401(k) Easy plan? |
What length of service requirement
do you want use for your 401(k) Easy plan?
Keep existing plan's length of service requirement for our 401(k)
Easy plan.
Change
length of service requirement to "None" for our 401(k)
Easy plan.
Change
length of service requirement to "Three (3) months"
for our 401(k) Easy plan.
Change
length of service requirement to "Six (6) months" for
our 401(k) Easy plan.
Change
length of service requirement to "One (1) year" for
our 401(k) Easy plan.
Change
length of service requirement to "" for our 401(k) Easy plan.
Unsure.
Please contact me regarding our 401(k) Easy plan length of service
requirement.
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34)
Participation
exclusions
in your existing plan: |
Does your
current plan exclude any categories of employees from participation?
Yes
No
Unsure. Please contact me regarding participation exclusions
used in our existing company plan.
If "Yes",
please identify the classes of employees currently excluded from
participation in your existing company plan: (check all that apply)
Union members
Non-resident aliens
Other:
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35)
...and
for your
401(k) Easy plan? |
Do you want your 401(k)
Easy plan to exclude any categories of employees from participation?
Yes
No
Unsure. Please contact me regarding participation exclusions
for our 401(k) Easy plan.
If "Yes", please
identify the classes of employees you'd like excluded from participation
in your 401(k) Easy plan:
(check all that apply)
Union members
Non-resident aliens
Unsure. Please contact me regarding
what participation exclusions to use for our 401(k) Easy plan.
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36)
Automatic
enrollment
in your existing plan: |
Does your
plan currently use automatic enrollment?
Yes No Unsure. Please
contact me regarding this item.
If "Yes",
what is your current plan's default contribution level for automatically
enrolled participants?
Not applicable. Auto enrollment is not currently
used in our existing plan.
3%
4%
5%
Unsure. Please contact me regarding this item.
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37)
...and
for your
401(k) Easy plan? |
Do you want your 401(k)
Easy plan to use automatic enrollment?
Yes
No Unsure. Please contact me regarding this item.
If "Yes", what
would you like the default contribution rate to be for automatically
enrolled participants?
Not applicable. Do not want auto enrollment used in our 401(k)
Easy plan.
3%
4%
5%
Unsure. Please contact me regarding using auto enrollment
in our 401(k) Easy plan.
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38)
Employer
contributions
in your existing plan: |
Your company
can contribute to plan participants' accounts in either (or both)
of two ways: (1) matching contributions and/or (2) profit-sharing
contributions. Matching contributions are defined in terms of
participant contributions (e.g., 50¢ contributed by the
employer for each dollar contributed by the plan participant),
whereas profit-sharing contributions are tied to some other variable,
such as compensation.
1) What
MATCHING CONTRIBUTION formula is currently being used in your
existing company plan?
No employer matching contributions are being made.
Our company makes matching contributions at a rate of % (e.g., 50%) to each dollar our participants
defer into the plan.
Our company makes matching contributions at a rate of % (e.g., 50%) to each dollar our participants
defer into the plan, up to a maximum annual matching contribution
of $
per participant per year.
Other:
Unsure.
Please contact me regarding our existing plan's matching contribution
formula.
2) Has your
company made any PROFIT-SHARING CONTRIBUTIONS in your existing
company plan?
No profit-sharing contributions have been or are being made in
our existing plan.
Yes. our company has made/does make profit-sharing contributions
in our existing plan.
Unsure. Please contact me regarding profit-sharing
contributions made to our existing plan.
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39)
...and
for your 401(k) Easy plan? |
1) Do you want to use a
different MATCHING CONTRIBUTION formula for your 401(k) Easy
plan?
Use
our existing plan's matching contribution formula for our 401(k)
Easy plan.
Change our matching
contribution formula for our 401(k) Easy plan to "None".
Change our matching
contribution formula for our 401(k) Easy plan to a rate of
% (e.g., 50%) to each dollar our participants defer into the
plan.
Change our matching
contribution formula for our 401(k) Easy plan to a rate of % (e.g., 50%) to each dollar our participants defer
into the plan, up to a maximum annual matching contribution of
$ per participant per year.
Change our matching
contribution formula for our 401(k) Easy plan to the following:
Unsure. Please
contact me regarding the matching formula for our 401(k) Easy
plan.
2)Would your company like to have the option of being able to make DISCRETIONARY EMPLOYER CONTRIBUTIONS (i.e., profit-sharing contributions) to employees' accounts?
No, we do not want the option
of even possibly making profit-sharing contributions.
Yes, our company will POSSIBLY make profit-sharing contributions in an amount to be determined by our company. AND DOES NOT want contribution amounts to be limited to current or accumulated net profit.
(Checking this option in no way obligates your company to making any actual contributions, it simply leaves open the possibility that you might.)
Yes, our company will POSSIBLY make profit-sharing contributions in an amount to be determined by our company AND DOES want contribution amounts to be limited to current or accumulated net profit.
(Checking this option in no way obligates your company to making any actual contributions, it simply leaves open the possibility that you might.)
Unsure. Please contact
me regarding profit-sharing contributions.
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40)
Vesting
of employer contributions
in your existing plan: |
1) What
vesting formula is currently being applied to any EMPLOYER MATCHING
CONTRIBUTIONS being made in your existing company plan?
Not applicable (no matching contributions being made) (SKIP TO
NEXT SECTION: Loans)
2) What
vesting formula is currently being applied to any EMPLOYER PROFIT-SHARING
CONTRIBUTIONS being made in your existing company plan?
Not applicable (no profit-sharing contributions
being made) (SKIP TO NEXT SECTION: Loans)
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41)
...and
for your 401(k) Easy plan? |
"Vesting" refers
to ownership. For instance, if you pick Schedule D below and
a plan participant leaves your company after 2 years, he or she
will only be entitled to 20% of any relevant employer contributions
made by your company to his or her account. The remainder will
go into a pool that your company can choose to use for employer
contributions owed to other participants.
What vesting formula do
you want to use for any employer contributions? Mark your choice for any profit-sharing
contributions in column P-S Contribs and for any matching contributions
in column Match Contribs.
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42) Loans
in your existing plan: |
Does your
existing plan currently allow for 401(k) loans?
Yes (approximate number of outstanding loans: )
No
Unsure.
Please contact me regarding this item.
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43)
...and
for your 401(k) Easy plan? |
Do you want your 401(k)
Easy plan to allow for new 401(k) loans?
Yes
No
Unsure.
Please contact me regarding this item.
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44)
Investments
offered in your existing plan: |
Please list
the investments currently being offered within your company plan:
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45)
...and
for your 401(k) Easy plan? |
Do you want to continue
offering these investments within your 401(k) Easy plan, or would
you prefer to have 401(k) deferrals from the plan conversion
date forward go into a different set of investments (existing deferrals will stay in the
funds in which they are currently invested):
Unsure. Please contact me regarding investment offerings for
our 401(k) Easy plan.
Continue with existing plan investments (SKIP TO
NEXT SECTION: Shopping
Cart)
Have new deferrals go to a new set of investments, as defined
in your responses to questions 46 and 47, below.
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46)
401(k)
Easy plan investments
INVESTMENT TYPE:
(view investment listings) |
Please indicate
the type of investments you prefer for your 401(k) Easy plan:
Not applicable; keep our existing plan's investments for our
401(k) Easy plan
Participant-Directed Brokerage Accounts only
Participant-Directed Brokerage Accounts PLUS a family of No-Load
Mutual Funds
No-Load Mutual Funds only
Unsure. Please contact me regarding the type of investments to
offer within our 401(k) Easy plan.
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47)
401(k)
Easy plan investments
INVESTMENT CHOICE:
(view investment listings) |
Please indicate the FAMILY
of funds and/or the brokerage account you wish to offer within
your 401(k) Easy plan
(for example, T. Rowe Price mutual funds or Charles Schwab OneSource
brokerage accounts). If you have not already done so, you
should look through our investment listings to view your options:
Not applicable; keep our existing plan's investments for our
401(k) Easy plan.
New investment family or brokerage account for our 401(k) Easy
plan:
Unsure. Please contact me regarding the exact investment family
or brokerage account to offer within our 401(k) Easy plan.
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48)
Safe Harbor Designations:
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The IRS allows 401k plan sponsors an alternative to subjecting their 401k plans to annual discrimination testing. The safe harbor method of plan operation lets employers instead make certain contributions to the plan, with immediate vesting of the contributions to employees' 401k accounts.
Do you want to operate your 401(k) Easy plan as a safe harbor 401(k) plan?
Yes
No (you can skip the rest of this section 32)
Unsure. Please contact me regarding operating our 401k plan as a safe harbor plan.
If you are choosing to operate your 401k plan as a safe harbor plan, which employer contribution formula would you like to employ?
Not applicable (don't want to use the safe harbor method)
Make a qualified nonelective contribution equal to 3% of compensation to each eligible employee's account.
(Note: Qualified nonelective contributions are made to ALL eligible employees accounts, regardless of whether the persons participate in the company 401k plan.)
Make a dollar-for-dollar matching contribution to non-highly-compensated employees on salary deferrals up to 3% of compensation and 50¢ to the dollar matching contributions to non-highly compensated employees on salary deferrals of 3% to 5% of compensation, making sure not to exceed these rates in any matching contributions made to highly compensated employees.
(Note: Matching contributions, because they're based upon salary deferral amounts, are made only to currently-participating employees' 401k accounts.)
Unsure. Please contact me regarding the type of 401k safe harbor contribution to make.
If you are choosing to operate your 401k plan as a safe harbor MATCHING
CONTRIBUTION plan, how often do you want your employer contributions to be made?
Not applicable (don't want to use the safe harbor method)
Annually
Per payroll period
Per month
Per quarter
Unsure. Please contact me regarding the frequency of making our 401k safe harbor employer contributions.
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