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Plan Documents

Ascensus Consulting is an independent third-party administrator plan document sponsor utilizing state of the art document services. A plan document is a critical component of tax qualified defined contribution, defined benefit, and cash balance plans.
 
The document serves as the foundation for day-to-day plan operations. As such, a plan design must be selected before a plan document can be prepared.
 
We offer employers the flexibility to continue using the same document in the event that they choose to change to a different investment company that Ascensus Consulting services, thereby saving the cost of designing a new plan document.

Document types that we prepare and service:
  • Prototype - A plan that is approved and qualified as to its concept by the Internal Revenue Service
  • Volume Submitter - Offers employers a wide variety of plan provisions allowed by law using language which has been reviewed by the IRS. However, unlike the master or prototype plan, which offers the ability to make minor changes to allow special customizatios, if changes are made, employers should obtain IRS approval of the plan as written.
Each client of Ascensus Consulting receives a plan document adminstration manual that typically includes the following:
  • The Plan’s Document
  • Amendments (modifications to plan provisions)
  • Summary of Material Modifications (SMM)
  • Summary Plan Description (SPD)
  • Loan Policy
  • Qualified Domestic Relations Order (QDRO) Policy
  • IRS Determination Filings (when requested)
  • Administrative forms
According to the U.S. Department of Labor, “To qualify, the plan you set up must be in writing and must be communicated to your employees. The plan's provisions must be stated in the plan. It is not sufficient for the plan to merely refer to a requirement of the Internal Revenue Code. “

Contact us for more information.