Engagement Profile
CLIENT RESPONSIBILITIES
- Provide copies of original plan document and immediate past year's administration documentation
- Provide essential payroll and database maintenance information
- Send periodic contributions to investment advisor in accordance with the terms of the plan
- Complete annual participant census update
- Submit government forms and filings to appropriate agencies in a timely fashion as directed
- Carry fiduciary liability insurance equal to 10% of plan assets
- Authorize Chautauqua Plan Administrators, Inc. broker access to the plan's current funds
CHAUTAUQUA PLAN ADMINISTRATORS, INC. RESPONSIBILITIES
- Review current plan document specifications and predecessor Third Party Administrator administration
- Maintain employee database
- Prepare periodic Plan Sponsor reports
- Prepare periodic Individual Participant Statements
- Administer all aspects of new participation and terminations
- Facilitate participant investment direction changes with investment advisor
- Administer all aspects of loan options
- Perform compliance testing required by IRS
- Prepare annual government filings
- Ascertain that plan document remains in compliance with current government rules and regulations
- Coordinate communications with investment advisor
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