Part II: Plan Information... |
|
Note: |
Complete the below ONLY
if you are having us convert an existing retirement plan into
an Advisors 401(k) plan.
If your company does not already
have a retirement plan, please use our First Plan Order Form instead of this
Plan Conversion Order Form. Thank You.
|
| ... regarding your existing plan and its conversion
into a Advisors 401(k) plan |
|
19)
What
type of plan do you want converted into an Advisors 401(k) plan? |
Profit-sharing plan (without 401k features)
Defined benefit plan
Other (please describe):
Unsure.
Please contact me with help regarding this item.
|
|
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.
|
|
21)
Potential
size,
in number of employees,
of your Advisors 401(k) plan:
|
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
56-50
more than 50
Unsure. Please
contact me regarding this item.
|
|
22)
Existing
plan's Plan Administrator: |
Please name
your company's in-house plan administrator (that is, the person
at your company who has been handling any 401k-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 email address is.
|
|
23)
...and
for your Advisors 401(k) plan? |
Will the same person serve
as Plan Administrator for your Advisors 401(k) plan?
Yes
No. will serve as Plan Administrator for our Advisors
401(k) plan. His/her phone number is , and email address is. His/her title is .
|
|
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 Trustees phone numbers:
|
|
25)
...and
for your Advisors 401(k) plan? |
Will the same person(s)
serve as Trustee(s) for your Advisors 401(k) plan?
Yes
No
If "No", please
name the Trustee(s) for your Advisors 401(k) plan. Please list
each new Trustee's name, title and phone number:
|
|
26)
Compliance
test history for your existing plan: |
Did your
existing 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 Advisors 401(k) 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.
|
|
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.
|
|
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.
|
|
29)
Plan
inception date
for your existing plan: |
When was your current plan
established?
month: year:
Unsure. Please contact me regarding
this item.
|
|
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.
|
|
31)
...and
for your
Advisors 401(k) plan? |
What age requirement do
you want use for your Advisors 401(k) plan?
Keep existing plan's age requirement for Advisors 401(k) plan
Change age requirement to "None" for Advisors 401(k)
plan.
Change age requirement to "21" for Advisors 401(k)
plan.
Change age requirement to for our Advisors 401(k) plan.
Unsure. Please contact me with help regarding our Advisors 401(k)
plan age requirement.
|
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.
|
|
33)
...and
for your
Advisors 401(k) plan? |
What length of service requirement
do you want use for your Advisors 401(k) plan?
Keep existing plan's length of service requirement
for our Advisors 401(k) plan.
Change length of service requirement to "None" for
our Advisors 401(k) plan.
Change length of service requirement to "Three (3) months"
for our Advisors 401(k) plan.
Change length of service requirement to "Six (6) months"
for our Advisors 401(k) plan.
Change length of service requirement to "One (1) year"
for our Advisors 401(k) plan.
Change length of service requirement to "" for our Advisors 401(k) plan.
Unsure. Please contact me regarding our Advisors 401(k) plan
length of service requirement.
|
|
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:
|
|
35)
...and
for your
Advisors 401(k) plan? |
Do you want your Advisors
401(k) plan to exclude any categories of employees from participation?
Yes
No
Unsure. Please contact me regarding participation exclusions
for our Advisors 401(k) plan.
If "Yes", please
identify the classes of employees you'd like excluded from participation
in your Advisors 401(k) plan:
(check all that apply)
Union members
Non-resident aliens
Unsure. Please contact me regarding
what participation exclusions to use for our Advisors 401(k)
plan.
|
|
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.
|
|
37)
...and
for your
Advisors 401(k) plan? |
Do you want your Advisors
401(k) 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 Advisors
401(k) plan.
3%
4%
5%
Unsure. Please contact me regarding using auto enrollment
in our Advisors 401(k) plan.
|
|
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.
|
|
39)
...and
for your Advisors 401(k) plan? |
1) Do you want to use a
different MATCHING CONTRIBUTION formula for your Advisors 401(k)
plan?
Use our existing plan's matching contribution formula for our
Advisors 401(k) plan.
Change our
matching contribution formula for our Advisors 401(k) plan to
"None".
Change our
matching contribution formula for our Advisors 401(k) plan to
a rate of % (e.g., 50%) to each dollar our participants
defer into the plan.
Change our
matching contribution formula for our Advisors 401(k) 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 Advisors 401(k) plan to
the following:
Unsure. Please
contact me regarding the matching formula for our Advisors 401(k)
plan.
2) Do you want to use a
different PROFIT-SHARING CONTRIBUTIONS designation for your Advisors
401(k) plan?
Use our existing plan's
profit-sharing contribution designation for our Advisors 401(k)
plan.
Change our profit sharing
contribution designation to "None" for our Advisors 401(k)
plan.
Change our profit-sharing contributions
designation to "May make profit-sharing contributions at a rate
to be determined by our company." (Checking this option in
no way obligates your company to making any actual contributions,
it simply leaves open the possibility that you might.)
Change our profit-sharing contributions
designation to
% of the total compensation of all participants
eligible to share in the allocations.
Unsure. Please contact me
regarding profit-sharing contributions.
|
|
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)
|
|
41)
...and
for your Advisors 401(k) 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 to your Advisors
401(k) plan? Mark your
choice for any profit-sharing contributions in column P-S Contribs
and for any matching contributions in column Match Contribs.
|
|
42) Loans
in your existing plan: |
Does your
existing plan currently allow for 401k loans?
Yes (approximate number of outstanding loans:
)
No
Unsure.
Please contact me regarding this item.
|
|
43)
...and
for your Advisors 401(k) plan? |
Do you want your Advisors
401(k) plan to allow for new 401k loans? 
Yes
No
Unsure.
Please contact me regarding this item.
|
|
44)
Investments
offered in your existing plan: |
Please list
the investments currently being offered within your company plan:
|
|
45)
...and
for your Advisors 401(k) plan? |
Do you want to continue
offering these investments within your Advisors 401(k) plan,
or would you prefer to have 401k 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):
Continue with existing plan investments
Have new deferrals go to a new set of investments, as defined
in questions 46 and 47, below.
Unsure. Please contact me regarding investment offerings for
our Advisors 401(k) plan.
|
|
46)
Advisors
401(k) plan investments
INVESTMENT TYPE:
(view investment listings) |
Please indicate
the TYPE of investments you prefer for your Advisors 401(k) plan:
Class A Mutual Funds only (requires your existing plan have $1
million or more in assets)
Class B Mutual Funds only
Class C Mutual Funds only
Unsure. I will contact my investment advisor regarding the type
of mutual fund investments to offer within our Advisors 401(k)
plan.
|
|
47)
Advisors
401(k) plan investments
INVESTMENT CHOICE:
(view investment listings) |
Please indicate the FAMILY
of funds you wish to offer within your Advisors 401(k) plan (for example, John Hancock Class B
mutual funds, or MFS Class C mutual funds). 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
Advisors 401(k) plan.
New investment family for our Advisors 401(k) plan:
Unsure. Please contact me regarding the exact investment family
or brokerage account to offer within our Advisors 401(k) plan.
|
|
32)
Safe Harbor Designations:
|
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.
|
|
48)
Financial
advisor information: |
Please name
your Financial Advisor for your Advisors 401(k) plan. Your Financial
Advisor will be the designated Broker of Record for your Advisors
401(k) mutual fund investments. He/She must be registered
with either the NASD or the SEC to be eligible to receive sales
commissions from the mutual fund companies you select.
Your Financial
Advisor's Name:
Your Financial
Advisor's Firm:
Your Financial
Advisor's Phone Number:
Your Advisor's
NASD or SEC Registration Number:
Is the Financial
Advisor named above the same Financial Advisor employed for your
existing plan?
Yes
No
If you are
requesting a different Financial Advisors for your Advisors 401(k)
plan than you employed in your existing plan, please name your
existing plan's Financial Advisor (optional):
|