Below are sample screen shots of
web-based Employee access screens (mouse over for
larger view).
1
Open Choice 401(k)TM
We Offer Great Features That
Meet or Exceed
New Pension Plan Protection Act
Requirements
Congress
passed sweeping legislation in 2006 that affects all
401(k), Profit Sharing and Pension Plans. Does your
Plan
meet requirements?
Pension Protection Act Requirement
Open Choice 401(k)TM
Your Plan
1.–Individual
account statements to be provided within
45 days of the end of each quarter.
Statements viewable on-line every day
for a specific day or range of time.
Printable on demand by the participant.
q
Participant has primary control over
their investment selection from available
Plan choices.
Each participant has secure web
investment choices which can include a
combination of mutual funds, managed funds
and annuity contracts.
q
Investment past performance on choices
available are disclosed.
Rates of return automatically calculated
for each participant's selected investments
as well as their total account balance.
Links to historical mutual fund performance also included.
q
Provided with access to professional
investment advice.
Works with any investment advisor that
accepts consulting fees (not commissions).
Information about each investment as well as
educational material and retirement planning
tools are available from each participant's
account.
q
Allowed to have own professional
advisors provided with information.
Participants can provide investment
advisors access to their account without
involving the employer.
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Fees charged to Participants are
disclosed, hidden fees no longer permitted.
Mutual funds are offered at
NAV. This means there are no front load
commissions or redemption fees.
Any open mutual fund is available, allowing
the Plans' investment advisor to choose a
blend of funds from any mutual fund
family.
All administration and
investment management fees are disclosed
to Participants to the extent they are
not paid by the Employer.
Mutual funds return marketing fees which are used to
reduce plan operating expenses.
q
Open Choice 401(k)tm Web-Based
Retirement Plans
More Features:
Participant Investment Choice
2.Model
investment portfolios designed by your
investment advisor
across mutual fund families
over 30,000 mutual funds to choose from
without fees or commissions (NAV)
Individual mutual fund direction by
Participants
Automatic
rebalancing of investments
Employer publicly traded stock as a choice and/or
to be included in a model portfolio
Legacy annuity contracts can be included until penalty
costs are gone
Incorporate money
managers (Collective Managed Funds) as a
Participant choice for investing
No limit on
the number of funds selected for a plan
6.No
transaction or setup fees per fund
Works with the investment
advisor you select.
Participant Monitoring of Their Account
Use of planning
tools.
Change or
rebalance investments
Change how
new money is invested
Check loan
balances
Loan
modeling - see what monthly payments for a
Plan
loan would be
Help and FAQ
screens are contextually linked to the each web page
Directly request
assistance from Plan managers and
administrators
Employer Compliance & Communications
Helps comply with the
Pension Protection Act and ERISA
Customized messages for participants to
read when they log in
Provide plan
documents on line such as:
Summary Plan Description
Distribution requests.
For3.
Contact us for a
no obligation review of your plan! 208/ 375-2272
