What To Expect During Your Plan Installation

Primer Article: The on-boarding and installation process for your plan is carefully laid out; here, we highlight your major milestones during design and install.

Plan On-Boarding & Installation with Uniglobal

Whether you're starting your first retirement plan or migrating over to Uniglobal with an existing retirement plan, we're here for you every step of the way. Our goal is to provide unparalleled service and support during and after your installation. 

Authorized Plan Contacts

As a service provider, we need to know the individuals authorized to communicate with us regarding your retirement plan. An Authorized Plan Contact (APC) is any individual at your company that will provide Uniglobal with the information it needs to perform services. While your plan will have one or more Trustees the APC can be any individual delegated and authorized to work with us on behalf of the company and plan. Most often, APC's are Payroll / HR Managers, CFO's, or other trusted members of leadership. 

Service Order

Our team provides a multitude of services for you and your retirement plan. Our Service Order is an integral part of our agreement between you, the plan, and us; it clearly itemizes all plan services your team at Uniglobal will provide. Once executed, we will begin to provide Services. Services and features unique to Uniglobal as your TPA are extensive, some of the most important are: 
  • Consulting & Conversion Services
  • Dedicated & Accredited Primary Local Consultant
  • Customized Suite of Governing Plan Documents and On-Going Proactive Compliance Services
  • Plan Administration & Correction Services
  • Compliance Services including, but not limited to:
    • 401(a) Participation Testing
    • 401(k) & 401(m) Testing
    • 402(g) Excess Deferral Testing
    • 410(b) Coverage Testing
    • 414(s) Compensation Testing
  • Valuation & Trust Accounting Services
  • Annual Return/Reports of Employee Benefits Plan
    • Form 5500-EZ
    • Form 5500-SF
    • Form 5500 w/applicable Schedules for Audit / Large Filers

Conversion Process: Data Collection Services

Clients with existing retirement plans will go through a one-on-one Data Collection process. Your contact at Uniglobal will work with you to collect all necessary information about the plan, its compliance, and operations. This process is essential to convert the plan over to Uniglobal and establish a historical basis for on-going Administration and Compliance Services. 

Meeting With Your Design & Install Team

Our initial Design meeting is an in-depth dive into the specifications of your retirement plan. For converting plans, this provides an opportunity for you to review your retirement plan's structure as it is currently and make any modifications going forward.

For new retirement plans, the process is slightly longer to cover new terminology and features you may not know exist, but the goal is the same: to work with you one-on-one to develop the specifics of a new retirement program to meet your objectives.

Your consultation service will consist of phone/video conversations, email-based support, and any other activities related to the development of the program.

Plan And Trust Document Suite

Once the design of your retirement plan is finalized and approved, we will draft all plan documents. This "suite" consists of the following:

Master Employer Documents
  • Base Plan Document
  • Trust Agreement

Employer Plan Specific Documents

  • Adoption Agreement 
Participant Documents
  • Participant Highlights
  • Summary Plan Description (SPD)
  • Loan Policy and QDRO Procedures
  • Annual Notices (i.e. Safe Harbor, and as applicable)

    Document Release & Review

    Your Plan Documents, once finalized, are sent to you securely for review and execution. This allows you to review, in full, all the specifications of the retirement plan - including those covered in our series of design consultations. The final step is to execute each component of the plan which solidifies the intent and allows the plan to be fully utilized for all its benefits.

    Uniglobal will keep copies of signature pages and all plan documents; however, you must retain all originals signed for your records.

    Record-Keeper Platform Set-Up

    Each Record-Keeper is unique in their installation process. They will work with you directly as well as with Uniglobal's Implementation Coordinator throughout the installation process. This process generally includes several conference calls explaining the overall installation steps, defining dates for when plan contributions will begin or when assets will move (in the case of an existing retirement plan that is changing providers), and a walk-through of the Record-Keeper website. Uniglobal will be included on all email correspondence and calls throughout the process. 

    Hand-Off To Your New Primary Contact and Plan Consultant

    Once your first contribution has been made to the plan, your Implementation Coordinator will introduce you to your day-to-day contact for Administration at Uniglobal. If your existing plan is transferring to Uniglobal, this contact will be introduced once assets have moved to the new Record-Keeper and allocation has been confirmed or, if applicable, once the TPA Change has been processed with your current Record-Keeper. 

    Have Questions About On-Boarding & Installation?

    Contact us! We're here to help!