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
- 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:
- Base Plan Document
- Trust Agreement
Employer Plan Specific Documents
- Adoption Agreement
- 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!