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Prepared for Springfield R-XII School District
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All participant information is kept confidential and only delivered to a particular vendor if
a participant has elected to establish a relationship with that vendor.
Plan Reporting
Retirement Manager provides a suite of online plan reports to assist the plan sponsor in
administering its retirement plans. Plan reports can be generated by plan type for
specific date ranges and can be exported to Excel. Ad hoc reporting is also supported.
Reporting is available at the aggregate vendor, selected vendor and participant levels.
Reports can be generated for any historic period with the date range based on the
selected start and end dates. Retirement Manager reports are available based on the
administration services selected, examples of popular reports include:
Plan eligibility and participation reports that enable tracking of plan participation rates
Employee classification reports that enable targeted employee communications
Contribution limit monitoring reports including the "Expected to Exceed Limits" report
Hardship withdrawal report
Loan monitoring report
Account Balance reporting across plan, vendor and participant
Enrollment
Retirement Manager guides the plan participant through the enrollment process. The
employee will enroll in the plan of their choice which they are eligible for by selecting a
contribution amount, the pay period contributions are to start and the vendor allocation
for these contributions. The participant will provide an e-mail address so Retirement
Manager can send them a confirmation that details their enrollment. After allocating their
contribution to vendors and selecting the allocation percentage among vendors, the
employee will be presented with a link to each selected vendor's electronic enrollment
site (if provided by the vendor). To complete the enrollment process, the employee can
complete the vendor application and investment elections online. If the vendor selected
does not provide electronic enrollment, Retirement Manager provides a paper
application, instructions, and links to vendor representatives, as provided by the vendor,
to complete the application process.
2. Describe your capabilities and requirements for providing common remitting services
for contributions. Please specifically identify any costs associated with this service in
the Fees and Expenses portion of your response.
Common Remitter Services
Retirement Manager provides simplified contribution processing and remittance
procedures through common remitter services; consolidated compliance procedures with
cross-vendor contribution limit monitoring, reporting, and a suite of online retirement plan
administration reports.
The common remitter capability enables plan sponsors to send a single remittance file
and wire after each payroll. Each plan sponsor remittance is automatically in balance
since Retirement Manager forwards all contribution changes to the payroll system(s).
The contribution files sent to each vendor contain census data for each participant that
has elected them as a vendor.