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Prepared for Springfield R-XII School District
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Remittance instructions are provided to VRSCO via an electronic file in the Retirement
Manager standard format. The file can be delivered either through a secure FTP or
uploaded through the Retirement Manager Web site upload page. Funds and files received
in good order by 10:00 a.m. Central Time will be released to the other vendors for
processing on the same day. The remittance instructions are available to other vendors
through a secured FTP delivery or by downloading a report through the Retirement
Manager site. The contribution files are sent to each vendor.
The remittance file totals are provided on the Retirement Manager Web site, along with
confirmation of the total of all remittances for the payroll date. Upon receipt of funding from
the plan sponsor, any discrepancies in the file totals will be identified in the system. Files
that are not in balance cannot be released to vendors. The plan sponsor will be contacted
immediately to reconcile any discrepancies between the remittance file and the payment.
Once instructions and payment are in balance, files and payments are released to the
vendors. File details, remittance totals and payment confirmation are provided on the web
site for vendor validation. A processing procedure validates that all file data is accurate
prior to the release to vendors.
3. Can you assist us in the following areas of plan documentation design? If so how?
a. Specimen or customized plan document – salary reduction; employer
contributions.
Yes. VALIC can develop a customized plan document for any plan type, to mirror an
existing plan or meet other specifications. For 403(b) plans, we also offer standard plan
documents that allow plan sponsors to design their plans by choosing from a variety of
available plan models. VALIC provides these services at no additional fees.
For 457(b) plans, VALIC provides a specimen plan document that has withstood
numerous DOL and IRS audits and provides for flexibility in plan design with employee
and/or employer contributions.
Retirement Manager does not provide a plan document service.
b. Participant notices (e.g., universal availability, auto-enrollment, if applicable).
Please specifically identify any costs associated with these services in the Fees
and Expenses portion of your response.
As part of the communications strategy, VALIC develops and distributes communications
materials that would be delivered directly to participants in hardcopy and/or digital
formats, depending on the materials. At the outset, these communications would include
a welcome letter, orientation meeting fliers/posters, plan highlight information, and the
enrollment brochures, to name a few. On an ongoing basis, communications would
include quarterly participant statement mailings, additional digital availability of
participant statements, and the Retirement Perspectives online newsletter, and may
include other hardcopy and/or digital communications such as seminar postcard
reminders, email blasts, and other targeted materials.