March 2010

• The Department of Labor and the Internal Revenue Service mandates that all eligible employees be notified of their right to participate in your company’s retirement plan.   They must be given written information about the plan and must complete and sign an enrollment form indicating whether or not they will be participating in the plan.

• 2009 Year End Request Package
  
  This is the information that UB Pensions requires in order to properly prepare all of the Plan's year-end compliance work.  Please complete to the best of your ability and if you are unsure of a particular answer, then please make a notation or call your Account Executive with any questions.  Thank you.

  Download the 2009 Year End Request Package

• Beneficiary Form

  If you would like to update your beneficiary, please complete this form and give it to your Plan Administrator. If you are married, your spouse is required to be your 100% primary beneficiary unless he or she signs page 2 of the form and has it notarized. It is a good idea to change your beneficiary after a life-changing event, such as marriage, divorce, or birth of a child.

  Download the Beneficiary Form.

• Tax Saver Credit Document
  
  Download the Tax Saver Credit Document.
  
  
  
• COLA 2009 Limits
  
  Download the COLA 2009 Limits.
  
  
  
• The Department of Labor (DOL) requires employers to transmit employee contributions to the plan trust "as soon as administratively feasible". The DOL has given guidance that contributions must be transmitted (in order to satisfy the "administratively feasible" standard) to the trust within seven days of being withheld from pay. Some DOL offices are reported to have required no more than two days to elapse before transmitting employee contributions. This is a serious issue for plan sponsors. Please contact your Account Executive to ensure your deposit procedures comply with DOL standards.

• Plan Sponsors are required to develop an Investment Policy suitable to their plan and to the plan participants. An Investment Policy deals with the suitability of investment products, performance, plan expenses and compliance with
  ERISA 404(c) (which offers the employer some relief from liability due to adverse investment performance). A written Investment Policy Statement should be prepared and kept on file. The Statement should be reviewed with your Investment Advisor as circumstances warrant (at least once each year). Please call your Account Executive for information about your Investment Policy obligations.
  
  
• Sample Hartford Life Enrollment Meeting

This sample meeting can be used in lieu of, or in addition to, UB Pensions and/or your investment professional holding a meeting at your office.  This was put out by The Hartford, and should be used by plans who use The Hartford as their investment custodian.

Play the Meeting

• Sample Nationwide Financial Enrollment Meeting

This sample meeting can be used in lieu of, or in addition to, UB Pensions and/or your investment professional holding a meeting at your office.  This was put out by the Nationwide Life Insurance Company, and should be used by plans who use Nationwide as their investment custodian.

** After clicking on the download link, choose to 'Run' the file and follow the prompts to install the presentation. The download will take approximately 10 minutes using a high speed connection.

Play the English Meeting

Play the Spanish Meeting

 

• Roth Announcement and Example

Starting January 1, 2006, 401(k) plans are allowed to adopt a provision allowing employees to make after-tax Roth 401(k) contributions.  While not all of the regulations are finalized, the documents here will help to clear up some of the questions that you may have.  Please contact your Account Executive for more details.

Roth Announcement
Roth Example

• Nationwide's Payroll Provider Program Webcast

Play the Webcast