The Pentegra TPA Advantage TPA and 316 Services

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Presentation Description

Year end is approaching. Could you use more time? As a 3(16) fiduciary Pentegra can help you free up time by outsourcing retirement plan administrative responsibilities so that you can focus on what you do best!

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Presentation Transcript

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TPA ADVANT AGE THE PENTEGRA TPA 316 Fiduciary Solutions

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Pentegra offers a comprehensive array of Third Party Administrative TPA services for every type of retirement plan. Our fexible arrangements can include an existing recordkeeper trustee or investment manager. We take TPA services to the next level as an ERISA 316 Fiduciary Administrator. Our 316 fduciary services make it possible to reduce signifcant legal and administrative burdens minimize risk and lessen workloads for plan sponsors. Our clients hire us to provide better plans that run with less risk more effciency and improved outcomes. Think of it as a better way to offer a retirement plan.

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2 Pentegra The Pentegra TPA Difference More than a traditional TPA Pentegra offers a comprehensive array of TPA Services for every type of retirement plan. With a national foot- printclients and advisors partners hire us to provide better retirement plans that run with less risk more effciency and improved outcomes. The Bench Strength of a Highly Credentialed T eam We offer clients the bench strength of a tenured and professionally credentialed team. Our expert ERISA attorneys ASPPA-certifed consultants fduciary and compliance specialists serve thousands of complex retirement plans nationwide and deliver among the highest level of expertise and technical support in the industry today. We’ll fx what others fear. We’re not afraid of uncovering a plan problem. As an institutional fduciary we have a 75+ year track record of doing things the right way—even and often that means taking the time to fx what others have overlooked. We’re comfortable working outside of the box. We’re agile when it comes to out-of-the-box features and practiced in plans that many TPAs won’t touch. We go beyond traditional TPA services We offer a consultative and strategic approach to plan design. We take a deeper dive developing an understanding of benefts philosophies and cost and beneft objectives peer analysis and competitive considerations. We’re expert in developing plan design strategies that create greater tax effciencies and deferral opportunities for business owners. We’re CEFEX Certifed Pentegra is a Centre for Fiduciary Excellence CEFEX Certifed Administrator demonstrating our commitment to a standard of excellence and best practices and a culture of good governance and oversight. Pentegra is part of an elite group of frms in the nation that has successfully completed the independent certifcation process for TPA service providers. A different approach to TPA Services.

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4 Pentegra • Determination of highly compensated employees • Comprehensive compliance reporting package • Analysis of testing results • Corrective scenarios in the event of failure • Preparation of Government flings • IRS Form 5500 and applicable schedules A C D E G H I R MB SB SSA • Summary Annual Report SAR • IRS Form 5558 Extension for Form 5500 • IRS Form 5330 PBGC Premium flings • T ax reporting including Form 1099-R 1096 945 and 1099-MISC • Required minimum distribution notifcation • Voluntary Compliance Program Submissions VCP • Legislative and regulatory updates Comprehensive TPA Services PLAN DESIGN DOCUMENT SUPPORT • Prototype or custom designed plan documents • Summary Plan Descriptions SPDs • IRS Determination Letter Submissions IRS Form 5300/5307 • Plan amendment and restatement services • Plan design consulting PLAN COMPLIANCE SUPPORT • Determination of plans to include for compliance testing • 401a4 Nondiscriminatory Allocations • 401a9 Compensation Limitation • 401a26 Minimum Participation • 402g Excess Deferrals • 404 Maximum Deductible Contributions • 410b Minimum Coverage T esting • 414s T esting for Non-Safe Harbor Compensation • ADP/ACP T esting • 415 Annual Addition T esting • 416 T op Heavy T esting • Nondiscriminatory Benefts/Rights/Features LEGAL SUPPORT • Review of Qualifed Domestic Relations Orders QDRO • Annual ERISA Notices including: QDIA QACA and ACA • Safe Harbor notice • Automatic enrollment notice • Required minimum distribution notifcation • Summary Annual Report • Legislative and regulatory updates PLAN ADMINISTRATION • Special Handling For “Hard-T o-Value” Assets • Confrm Contributions Deposited Correctly By Source • Annual Employer Valuation Report • Related Companies/Common Ownership Review • Fidelity Bond Requirements Check • Applicability of Joint Survivor Annuity Requirements • Review and Update Census Data • Review of plan eligibility re-entry rehires forfeiture restoration • Review of plan matching and other contribution ANNUAL PLAN CALCULATIONS • Employer contribution allocations • Proft sharing calculation with New Comparability Analysis • Proft Sharing calculation with Age-Weighted Integrated Analysis • Forfeiture allocations • Vesting calculations A full range of TPA services and support.

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6 Pentegra TPA + 316 Fiduciary Services As a 316 administrative fduciary Pentegra assumes key retirement plan responsibilities for you transferring these responsibilities from your organization to ours. This helps you by not only eliminating work but also minimizing your risk and responsibility for doing the work. Y ou’ll have the comfort of knowing that your plan is being administered so that it’s compliant and managed with your participants’ best interests in mind. Y our long list of retirement plan responsibilities become only a few. With 316 fduciary outsourcing you’ll have more time to focus on what you do best. When you can trust someone to do their best work you can focus on doing yours. With 316 fduciary outsourcing you’ll have more time to focus on what you do best. What 316 Fiduciary Outsourcing Does for Plan Sponsors • Saves me time • Takes work off my desk • Reduces compliance burdens • Minimizes risk liability • Eliminates complex responsibilities • Saves money by saving time • Helps ensure my business is competitive • Improves plan outcomes

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8 Pentegra Government Filings Participant Fee Disclosures Plan Operational Oversight and Compliance Plan Document Administration New Hire T ermination Processing Contributions Compliance T esting Participant Notices Statements and Disclosures Plan Audit QDROs Loans Loan Repayments Claims Beneft Determinations Forfeitures Suspense Accounts Corrections We take on all of this for you. Annual Plan Review Process Hardship Distributions As 316 Fiduciary Administrator Pentegra assumes the risk and responsibility of doing this work for you. Pentegra

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10 Pentegra Fiduciary outsourcing makes offering a retirement plan less burdensome and more effective. • Act as Named Plan Administrator • T ake on Fiduciary Liability for Operating the Plan According to the T erms of the Plan • Choose Recordkeeper • Investment Selection Monitoring • Provide Timely Complete Accurate Payroll and Other Census Data • Make Timely Contributions • Sign and File Form 5500 • Operational Compliance • Oversee Plan Document • Interpret Plan Provisions • Review Summary Plan Description SPD Summary Material Modifcation SMM • Review Required Plan Amendments • Review Optional Plan Amendments • Review Participant Notices • Review Summary Annual Report SAR • Review and Approve/Deny Loan Requests • Review and Approve/Deny Home Loan Requests • Review and Approve/Deny Hardship Withdrawals • Review Distribution Requests • Review Qualifed Domestic Relations Orders QDROs • Participant Fee Disclosure • Service Provider Fee Disclosure • Review Census Information • Review Compliance T esting • Verify Eligibility • Verify Vesting • Respond to Notices of Claims Appeals • Review Force-outs Your Retirement Plan T o Do List With Pentegra • Provide Timely Complete Accurate Payroll and Other Census Data • Make Timely Contributions • Monitor Service Providers How We Help You Your Retirement Plan T o Do List T oday

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12 Pentegra Make the path simple for your clients. Which TPA Model Is Right for Your Clients The TPA as 316 Fiduciary Administrator Full outsourcing of the 316 role. The TPA is responsible for doing the work and assumes fduciary responsibility for making sure the work is done correctly. Non-Fiduciary TPA The TPA is responsible for doing the work but the employer retains legal responsibility and all of the fduciary responsibility. Minimize Risks Burdens Reduce Work Save Time Improve Plan Outcomes

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Partner with Pentegra to offer a better retirement plan. Learn more about Pentegra’s TPA and fduciary outsourcing solutions. Contact the Pentegra Solutions Center at solutionspentegra.com or 855-549-6689 Follow our current thinking and join the conversation.

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2 Enterprise Drive Suite 408 Shelton CT 06484-4694 800 •872 •3473 tel 203 •925 •0674 fax www.pentegra.com © 2020 Pentegra Retirement Services All Rights Reserved

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