Enrollment Processing

Fiduciary Peach of MindTM

A Retirement Plan Outsourcing Service

Enrollment is a time-consuming process you must perform for newly hired employees. Fiduciary Peace of Mind means that we determine what needs to be issued to someone about to become eligible for the plan and we mail all the necessary communications to the employee on your behalf.

Determine Eligibility

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We review your plan document to determine the plan’s eligibility criteria.

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We determine when employees will become eligible based on data from your payroll system.

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Some plans have different eligibility requirements for different classes of employees or for different sources of money.

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We can determine eligibility dates based on this additional criteria.

Deliver Enrollment Package

We mail enrollment packages to participants’ homes. If we can meet the Department of Labor and Internal Revenue Service rules for emailing, we email the enrollment packages instead.

Assemble Enrollment Package
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We determine information that needs to be sent to employees prior to their eligibility date.

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We determine where the necessary enrollment pieces are created. (It may be your recordkeeper, investment custodian, TPA or other service provider.)

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We gather the various enrollment pieces and, if they are templates, we take responsibility for completing them in a manner appropriate for your plan.

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We also review all required materials including fee disclosure notices and Summary Plan Descriptions to determine if they meet the government’s identified content requirements.

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We can also include customized pieces that you or your financial advisor wish to send as well.

An Important Requirement

Your plan must have a minimum eligibility period of 2 months in order for us to provide this service.

Timeline for Mailing

50 DAYS

prior to entry date

Determine who is likely to enter the plan on the entry date

45 DAYS

prior to entry date

Ensure all enrollment material is up to date

40 DAYS

prior to entry date

Send enrollment kits to commercial printer for mailing

38 DAYS

prior to entry date

Work through any problem addresses identified by commercial printer

35 DAYS

prior to entry date

Commercial printer mails enrollment kits

Timeline for Emailing

50 DAYS

prior to entry date

Determine who is likely to enter the plan on the entry date

45 DAYS

prior to entry date

Ensure all enrollment material is up to date

35 DAYS

prior to entry date

Email enrollment kits

Pricing

Pricing for this service is customized based on:

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Complexity of the plan’s eligibility requirements

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Whether we can email or must use a commercial printer

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The number of employees who can be reasonably estimated to enter the plan each year

Talk to us about your plan

As an ERISA 3(16) Plan Administrator, Fiduciary Outsourcing is here to reduce the administrative effort, resource burden and risk of liability of your retirement plan. We implement customized outsourcing options to fit your needs so that you can rest easy knowing your plan is compliant with rules and regulations.

Contact Us To Learn More