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| How we Assist your Company with a Qualified Plan |
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| Alpha & Omega, Inc. can provide assistance in the areas listed below. We are completely flexible in our approach, and your company can use us as much or as little as it likes for specific services. |
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| Plan Administration |
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Alpha & Omega, Inc.'s objective is to relieve you of the
administrative burden involved in the implementation and administration of a qualified
plan. Our services include the following:
- Perform a break-out of the amounts to be invested in the
individual investment funds.
- Maintain all participant records.
- Assist in determining contribution costs for both defined
contribution and defined benefit plans.
- Allocate salary deferral contributions, employer match,
employer discretionary contributions and earnings to individual participant accounts.
- Produce quarterly employee statements of individual
accounts.
- Track participant changes in deferral percentages and
investment funds.
- Perform the 401(k) and (m) Discrimination Tests.
- Perform the Family Aggregation Analysis.
- Perform the Coverage and Benefits Test.
- Determine payout amounts to terminating participants and
prepare the 1099-R and other necessary paperwork including issuing the check. (This
is modified if a corporate trustee is involved.)
- Process participant loans and hardship withdrawals.
- Counsel retirees and terminating participants.
- Provide information to the plan auditors.
- Prepare all government filing reports.
- Develop an Administrative Guide to be used by the Human
Resources Department.
- Develop specific policies and procedures to be used in the
administration of the Plan.
- Process all benefit distribution amounts through PenChecks,
Inc., the nation's largest independent distribution company.
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| Investment Selection |
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| Alpha & Omega, Inc. as a firm does not sell any product
or accept commissions or finder's fees. This has enabled us to remain objective
in assisting clients in the selection of investment funds or investment managers to handle
the funds deposited to their qualified plans. We will
develop the required Funding Policy as detailed by the Internal Revenue Service and if
commissioned to do so, we will prepare the Investment Policy Statement as required by the
Department of Labor Regulations. Alpha & Omega, Inc. can also serve as the Investment
Advisory Firm. |
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| Document Preparation and IRS Filing |
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| Alpha & Omega, Inc. has Prototype Plan documents
available. Our General Counsel can also draft individually designed plans when
necessary. Under either approach, Alpha & Omega, Inc. will prepare the plan and
trust documents for review by your company and its legal counsel. We will also prepare all Department of Labor and Internal Revenue
Service forms and schedules for qualification of the plan.
- Form 5307 - Application for Determination for
Employee Benefit Plans
- Form 5302 - Employee Census
- Form 2848 - Power of Attorney
- Form 8717 - IRS User Fee for Employee Plans
- Compliance Analysis under Revenue Procedure 91-66
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| Employee Communication |
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| Communication of the Plan is critical. In 401(k) Plans it is vitally important that a large number of the lower-paid employees enroll because of the discrimination testing. Employees must understand the advantages of the Plan and their investment options, and feel comfortable with how the Plan works. Alpha & Omega, Inc. can assist your company in communicating the Plan to your employees. Alpha & Omega, Inc. will provide the following communication / marketing materials to help promote the Plan to employees:
- Payroll Stuffers
- Pamphlets Describing the Benefits
- Plan Highlights Piece
- Enrollment Booklets
- Most Commonly Asked Questions
Alpha & Omega, Inc. can perform any or all of the following
additional services:
- Produce copies of summary plan descriptions, letters to
employees or any other printed material.
- Participate in employee meetings, either to explain the Plan
to new employees or to review the plan's annual activities and performance with
participants.
- Design audio-visual presentations and supervise their
production.
- Coordinate and supervise the work of suppliers such as
design firms, printers and audio-visual specialists.
- Make available our generic audio-visual programs and
pre-printed marketing material.
- Provide appropriate and accurate translations of our
communications material in Spanish or other foreign languages.
- If necessary, provide translators to assist during the
initial enrollment meeting.
- Train specifically identified individuals within the
organization to assist us in communicating with the non-English speaking workforce.
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Alpha & Omega, Inc. Financial Management
Consultants
8580 La Mesa Blvd, Suite 100
La Mesa, CA 91941
Phone: 800-755-5060 ~ Fax: 619-462-1766
Email: info@Alpha-Omega-Inc.com
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