PLAN SPONSOR GUIDE. This Sponsor Guide provides you with detailed information to become proficient in using the Plan Sponsor Web Guide.

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1 PLAN SPONSOR GUIDE This Sponsor Guide provides you with detailed information to become proficient in using the Plan Sponsor Web Guide.

2 Table of Contents Plan Sponsor User Guide and Login... 4 System Requirements... 4 Logging In to the United Retirement Plan... 4 Logging Out... 4 Locked Out... 4 Plan Sponsor Site Menus... 5 Plan Information Menu... 5 Account Balance... 5 Documents... 6 File Upload... 7 Contributions... 8 Loan Report... 9 Participant Information Menu Select Participant/Account Overview Account Balance Loan Modeling Outstanding Loan Balances Administrative Changes Census Information Add Participant Personal Statement Personal Rate of Return Investment Direction Transaction History Hardship Amount Employment Dates Investment Information Menu Investment Performance/Fund Prices/Fund Short Term Redemption Fees Financial Services/Financial Calculators Management Reports Menu Participant Diversification Do not copy or distribute outside original intent. PAGE 1 of 35

3 Average Balance by Age Group Fund Utilization Asset Allocation by Age Group Fund/Fund Model Tables for Fact Sheet...26 Terminated Participants...26 My Profile Menu My Profile Password Change/Reminder Statements Menu...29 Statement Run...29 Job Queue Glossary of Terms Do not copy or distribute outside original intent. PAGE 2 of 35

4 Plan Sponsor User Guide and Login The Plan Sponsor Guide As the Plan Sponsor, plan utilization is important to you. This Sponsor Guide is written specifically to address your needs for overall management of the Plan. This Sponsor Guide provides you with detailed information and helpful hints to become proficient in servicing your Plan s participants. If you have any questions, please contact a United Retirement Consultant s Client Services representative during regular business hours by ing URPC@aspireonline.com or by calling our toll free number (855) System Requirements Two requirements that must be met in order to access your Plan are: Web Browser - The system is designed to support the current and one prior version of Microsoft Internet Explorer. Other browsers will work, however are not recommended. In addition, browser options must be set to allow cookies in order to support a reliable session state. Valid Sponsor User Name and Password - If you have not been provided with a Sponsor username and password, you should contact your TPA or record-keeper. Your TPA or recordkeeper can reset/change your password, if ever needed. Logging In to the United Retirement Plan Use the link: Enter your Username and Password. Click the Log In button. Logging Out Click the logout button on the top right hand corner. Locked Out If you attempt to login three consecutive times, your account will be disabled. If you cannot access your account, please contact your company s Human Resources representative or a United Retirement Consultant s Client Services representative during regular business hours by ing URPC@aspireonline.com or by calling our toll free number (855) Once logged in, you will be able to access the Plan Sponsor site menus. Do not copy or distribute outside original intent. PAGE 3 of 35

5 Plan Sponsor Site Menus Plan Information Menu The Plan Information menu consists of the following submenus: Account Balance View your Plan s Account Balance by: Details View the account balance by fund and source View each fund s source(s) View each fund s market value View the number of units in each fund View each fund s price as of the last valuation date View the total market value Ability to export balances to Excel by clicking the icon Do not copy or distribute outside original intent. PAGE 4 of 35

6 Fund View the account balance by fund View each fund s balance View the number of units in each fund View each fund s price as of the last valuation date Ability to export balances to Excel by clicking the icon Source View the account balance by source View the balance by source Ability to export balances to Excel by clicking the icon o Documents View important retirement plan documents, notices, and participant forms Scroll down to view/access all plan documents. Do not copy or distribute outside original intent. PAGE 5 of 35

7 File Upload How to Upload a Payroll File Step Action 1 Log in to 2 The Plan Sponsor site opens to the Plan Information menu. 3 Click File Upload. 4 Click Browse and select the file you wish to upload. Upload Payroll files into the Plan Level folder. Select the Plan Level radio 5 button. Use the YYYYMMDD-CLIENT file name convention (e.g ABC Company). Use your actual Payroll cycle date for each new Payroll file. 6 Within the Automate Payroll Process drop-down box, select Payroll. Select the actual Payroll Date based on your Payroll cycle date. 7 (Note: This should be the same date as reflected in your Payroll System for W-2 reporting purposes.) 8 Click Upload. Do not copy or distribute outside original intent. PAGE 6 of 35

8 Contributions How to Manually Enter your Employees Contribution Data: Alternative to uploading a payroll file, you may directly enter payroll information onto the Plan Sponsor site. This is recommended for small plans that typically have the same information from paycheck to paycheck. Step Action 1 Log in to 2 The Plan Sponsor site opens to the Plan Information menu. 3 Click Contributions. 4 Choose the Payroll Date from the drop down calendar. Fill in the appropriate fields per participant: Current Period Wages 5 Hours Contribution amounts (per source) Loan repayments, if applicable 6 Click Submit. Contribution processing is the procedure of entering all contribution data so that your participants money is placed into their accounts. The four categories of data which may be entered on every contribution transaction are: 1. Contribution amounts by source per participant 2. Loan Repayments, if applicable 3. Hours of Service for each participant 4. Compensation for each participant Do not copy or distribute outside original intent. PAGE 7 of 35

9 Loan Report Use the Loan Report option to generate a detailed list of active/outstanding loans or delinquent loans as of any given date for your plan. This report can be generated by individual participant or by plan. How to Request an Outstanding Loan Report: Step Action 1 Log in to 2 The Plan Sponsor site opens to the Plan Information menu. 3 Click Loan Report. 4 Choose Outstanding or Delinquent. 5 For the Outstanding Loan Report, you may Sort/View By: Participant ID Name Payments Remaining Principal Remaining For the Delinquent Loan Report, you may Sort/View By: Participant ID Name 6 Choose the Effective Date. 7 For the Delinquent Loan Report, enter the number of days overdue. 8 Click Submit. The Loan Report will display at the bottom. The report includes the loan date, loan ID, loan amount, payment amount, interest rate, number of payments made, frequency, outstanding loan balance, and payments remaining. Do not copy or distribute outside original intent. PAGE 8 of 35

10 Participant Information Menu The Participant Information menu consists of the following submenus: Select Participant/Account Overview Account Overview displays all the participants in your plan. You can search by the participant s last name or participant ID. Once a participant is selected, you will be accessing the participant s account balance screen on the participant website. How to Search for a Participant: Step Action 1 Log in to The Plan Sponsor site opens to the Plan Information menu. 2 Go to the Participant information menu. 3 Search By the participant s Last Name or Participant ID. Type in the participant s Last Name or Participant ID. You may also search from the alphabetical list of 4 participants using the arrows to move forward/backward. 5 Click Submit. 6 The participant s name and ID appear below. Click on the participants name to access his/her account overview on the participant website. Do not copy or distribute outside original intent. PAGE 9 of 35

11 You can choose to access the participant s account information from the Participant Information menu. To change the participant, choose Select New Participant. Do not copy or distribute outside original intent. PAGE 10 of 35

12 Account Balance View the participant s Account Balance by: Details View the account balance by fund and source View each fund s source(s) View each fund s market value View the number of units in each fund View each fund s price as of the last valuation date View the total market value Ability to export balances to Excel by clicking the icon Fund View the account balance by fund View each fund s balance View the number of units in each fund View each fund s price as of the last valuation date Ability to export balances to Excel by clicking the icon Do not copy or distribute outside original intent. PAGE 11 of 35

13 Source View the account balance by source View the balance by source Ability to export balances to Excel by clicking the icon o Loan Modeling Use this option to find out how much the selected participant qualifies to take as a loan and what the loan payments would be each pay period. Input the requested information in the fields below. Once the all the information is entered, click Calculate Loan Payments. Please note that Residential should only be selected if the loan is being used to purchase a primary residence. Otherwise the loan term cannot exceed 60 months. This section shows you the Total Market Value Total Vested Available for Loans Input the requested information in the fields. Once all the information is entered click Calculate Loan Payments. Do not copy or distribute outside original intent. PAGE 12 of 35

14 Outstanding Loan Balances This screen shows the details of the selected participant s current outstanding loan(s). Administrative Changes This screen allows Plan Administrators to add or edit a participant s information as well as view Internet PIN/passwords. To add or edit a participant s information, fill in the necessary fields. Click Submit. Do not copy or distribute outside original intent. PAGE 13 of 35

15 Census Information This screen allows the Plan Administrator to view census data on a plan level by participant. The screen includes information such as participant ID, hire date, annual compensation, before tax and Roth source amounts. When a single participant is selected, additional indicative data will be made available on the screen. How to Search for a Participant: Step Action 1 Log in to 2 The Plan Sponsor site opens to the Plan Information menu. Go to the Participant Information>Census Information menus. 3 Search By the participant s Last Name or Participant ID. 4 Type in the participant s Last Name or Participant ID. You may also search from the alphabetical list of participants using the arrows to move forward/backward. 5 Click Submit. 6 The participant s name and ID appear below. Click on the participants name to view census and additional indicative data on a participant level. Do not copy or distribute outside original intent. PAGE 14 of 35

16 Add Participant This screen allows plan administrators to enter indicative data for a new plan participant via the Plan Sponsor site. Fill-in the required fields, and click Submit. Personal Statement This screen allows you to view a one page snapshot of the selected participant s statement for the designated date range. Enter the Start Date and End Date. Click Search. Do not copy or distribute outside original intent. PAGE 15 of 35

17 Personal Rate of Return This screen allows you to view the selected participant s personal rate of return. Investment Direction This screen allows you to view the selected participant s investment direction by fund or model. Click on the fund name to view the fund information on Morningstar. Click on the fund name to view the fund information on Morningstar. Do not copy or distribute outside original intent. PAGE 16 of 35

18 Transaction History This screen allows you to view the selected participant s pending and posted transactions. Various selection options are available to filter the results (Note: See the options below, which list what is on the dropdown menu.) Once your options are elected, click Search. Start Date and End Date: Do not copy or distribute outside original intent. PAGE 17 of 35

19 Transaction Category: Sort/View By: Fund or Model: Source of Money: Status: Do not copy or distribute outside original intent. PAGE 18 of 35

20 Hardship Amount This screen allows you to view the selected participant s Hardship distribution amount Employment Dates This screen allows you to view the selected participant s employment history. It also allows you to edit the Hire Date and Termination Date. You will also be able to enter rehire dates and subsequent periods of employment after an initial termination of employment. How to Edit the Hire Date and Termination Date: Step Action 1 Log in to The Plan Sponsor site opens to the Plan Information menu. 2 Go to the Participant Information>Employment Dates menus. 3 Click Edit. 4 Using the calendar option, choose the Hire Date or Termination Date. 5 Click OK. 6 Click Save Dates to save changes. Do not copy or distribute outside original intent. PAGE 19 of 35

21 Investment Information Menu The Investment Information menu consists of the following submenus: Investment Performance This screen allows the Plan Administrator to have a detailed view of the of the following fund information: Fund/Model Description Fund Ticker YTD Performance 1, 3, 5, 10 Year and Inception to Date (ITD) Performance as of the end of quarter date Fund Prices This screen allows the Plan Administrator to view the Fund price as of the last valuation date. Fund Short Term Redemption Fees This screen allows the Plan Administrator to view the Fund Short-Term Redemption Fees. Do not copy or distribute outside original intent. PAGE 20 of 35

22 Financial Services This screen allows the Plan Administrator to view the Fund Description and Ticker and provides links to information for each fund on Morningstar and CNNFN. Financial Calculators This screen allows the Plan Administrator to access the retirement planning Financial Calculators. Management Reports Menu The Management Reports menu consists of the following submenus: Participant Diversification This chart displays the number of funds option participants are currently invested in as well as a percentage of the total portfolio options available. Do not copy or distribute outside original intent. PAGE 21 of 35

23 Participant Diversification This chart displays the number of funds option participants are currently invested in as well as a percentage of the total portfolio options available. Average Balances by Age Group This chart displays the number of participants by various age groups currently invested as well as the average balance by age group. Various options for reporting purposes can be applied based on desired results simply by selecting one of the available filters listed below. Do not copy or distribute outside original intent. PAGE 22 of 35

24 Fund Utilization This chart displays the current amount of money invested by fund risk category within the Plan as well as the overall asset percentage allocated. Click on any plus symbol to expand the selection to see the individual funds associated with each risk category. Click on any plus symbol to expand the selection Do not copy or distribute outside original intent. PAGE 23 of 35

25 Asset Allocation by Age Group This chart displays the asset allocation breakdown within the Plan by age group. Do not copy or distribute outside original intent. PAGE 24 of 35

26 Fund/Fund Model Tables for Fact Sheet Users can upload the Fund Fact Sheets, and the Funds may appear as links to where those sheets are saved, such as an internal directory at the Plan Sponsor or Third Party Administrator. Terminated Participants This report displays participants with a Terminated status. Do not copy or distribute outside original intent. PAGE 25 of 35

27 My Profile Menu The My Profile menu consists of the following submenus: My Profile This screen allows the Plan Administrator to create his/her profile for the Plan Sponsor web. The My Profile screen also contains the BenefitsLink Newsletters. Fill in the required fields. Click Submit. Do not copy or distribute outside original intent. PAGE 26 of 35

28 Password Change/Reminder This screen allows the Plan Administrator to change the password and to set-up security questions to receive a password reminder. To Change Password: Choose CHANGE PASSWORD Enter Old Password Enter New Password Confirm New Password (Password must be 8-16 characters.) Click Submit. To set-up a Password Reminder: Choose PASSWORD REMINDER Enter Password Choose Secret Question Choose Secret Answer Click Confirm. Do not copy or distribute outside original intent. PAGE 27 of 35

29 Statements Menu The Statements menu consists of the following submenus: Statement Run This screen allows the Plan Administrator to request a statement for a selected participant or all plan participants. How to Request a Statement: Step Action 1 Log in to The Plan Sponsor site opens to the Plan Information menu. 2 Go to the Statements>Statement Run menus. In the Participant field, choose Select New Participant or All Plan 3 Participants. Designate the Statement Period using the calendar options in the From and 4 To fields. 5 In the Reports fields, choose the Statements check box. 6 In the Options fields, click the Run Sort drop down and choose Last Name. 7 Click Process. You will receive a message stating, Your statement has been submitted to the Job Queue. Job ID number Do not copy or distribute outside original intent. PAGE 28 of 35

30 Job Queue All statement requests will show a Job ID number and can be retrieved from the Job Queue. How to Access Reports in the Job Queue: Step Action 1 Log in to The Plan Sponsor site opens to the Plan Information menu. 2 Go to the Statements>Job Queue menus. The Status column shows the number of reports. The Job ID column shows the Job ID number. 3 The Description column shows the name of the report/statement. The Date and Time columns show the date/time the report/statement was requested. 4 Expand the Status column to see the number of reports. 5 6 Click on the report to view. The report will open in a new tab. The report/statement will be in PDF form. Click the Save a Copy icon (Shift+Ctrl+S) to save. Click on the report or statement to view. This will open in a new window. Do not copy or distribute outside original intent. PAGE 29 of 35

31 Glossary of Terms ACH ACH is short for automated clearing house, which is the system that processes electronic payments by check rapidly. Using electronic checks allows people to minimize the use of paper checks. Money can be moved via ACH to send withdrawal or loan proceeds to a bank account, or could be used to send money to the retirement Plan s custodian to fund contributions. Auto-Rebalance A recurring reallocation of an existing account balance to equate to a participant s future contribution investment election percentages. This rebalance occurs automatically, as scheduled by your Plan. Beneficiary A beneficiary is a person or entity who receives money or other benefits from a benefactor. Regarding an employer sponsored retirement Plan, a beneficiary is who the participant designates to allocate their retirement Plan assets if he/she were to pass away. Catch-Up Contributions A Catch-up contribution allows a participant age 50 and over to make additional contributions (above the maximum allowable limits) to their retirement account. The participant must turn age 50 during the calendar year in which they are eligible to make the catch-up contribution, and the retirement Plan must allow Catch-up contributions in order for the contributions to be placed into the participant s account. Contribution In simplest terms, to contribute is to give or supply. In relation to a retirement Plan, a contribution is money that is given or supplied to a participant s account. Depending on the type of retirement Plan, contributions originate from various sources (the participant, the employer, etc.). Contingent Beneficiary A beneficiary is a person or entity who receives money or other benefits from a benefactor. A contingent beneficiary will only receive benefits if the primary beneficiary is deceased. Custodian A financial institution that has the legal responsibility for a customer s securities. This implies management as well as safekeeping. The Custodian could also be referred to as the Trust. Defined Contribution Plan A type of employer sponsored retirement Plan. In this type of retirement Plan, employer contributions are not necessarily guaranteed to be made. Elapsed Time The amount of calendar days an employee must work for their employer that counts towards benefit accrual, eligibility or vesting, as determined by the Plan. Do not copy or distribute outside original intent. PAGE 30 of 35

32 Elective Deferral/Employee Deferral Other terms for an employee s/participant s contribution to their retirement Plan is an elective deferral, salary deferral or employee deferral. A participant s contribution is typically deducted from their paycheck as a pre-tax deduction. Eligibility To be eligible is to be qualified to participate. An employer sponsored retirement Plan may have rules in place that indicate a participant is not qualified to participate or contribute to their retirement Plan until he/she has met certain requirements. For example, your employer may indicate that you have to work at your place of business for 6 months, or have a minimum of 1000 hours during a twelve month period prior to being able to make contributions into the employer sponsored retirement Plan. Financial Representative Also known as an advisor, financial advisor, or investment advisor, this is a person who is responsible for providing financial advice or guidance to investors. Forfeitures The loss of rights to an asset as a result of not meeting a Plan s vesting conditions. The benefit a participant loses if he/she terminates employment prior to becoming eligible for full retirement benefits under the Plan. Hardship Withdrawal A participant s withdrawal of money from their employer sponsored retirement Plan while he/she is still an active employee. A hardship withdrawal is typically only allowed if the participant has suffered from some sort of financial difficulty. Each Plan determines the definition of a financial difficulty (e.g. to prevent foreclosure, or to pay medical bills, etc.). Hours of Service The number of hours an employee works for their employer that counts towards benefit accrual, eligibility or vesting, as determined by the Plan. Indirect Rollover A rollover where monies from a retirement Plan are taxed and paid to the employee, then to avoid taxes and penalty, the employee redeposit those monies into another retirement account within 60 days. In-Service Withdrawal A participant s withdrawal of money from their employer sponsored retirement Plan while they are still an active employee. An in-service withdrawal can be taken for any reason, however each Plan determines if certain requirements (such as age) must be met prior to withdrawal. Loan A loan from an employer sponsored retirement account occurs when a participant borrows money from their account, funded through liquidation of their assets, and pays it back to their account, with interest. Do not copy or distribute outside original intent. PAGE 31 of 35

33 Model Portfolio A model portfolio is a collection of investments, each of them weighted with a certain percentage of the portfolio to create an investment geared to achieve a specific objective or match a certain risk profile. Money Market Fund An investment (usually a mutual fund) whose objective is to earn interest while maintaining a price of one dollar per share. Mutual Fund An investment vehicle that is made up of a pool of money collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar securities. Participant A participant is also known as an eligible employee for the employer who holds the employer sponsored retirement Plan. Plan Sponsor Also known as the sponsor or Plan administrator, a Plan sponsor is a company or employer that sets up a retirement Plan for the benefit of the organization s employees. Primary Beneficiary A beneficiary is a person or entity who receives money or other benefits from a benefactor. A primary beneficiary is the first in line to receive named benefits. Primary beneficiaries are contrasted with contingent beneficiaries, who will only receive benefits if the primary beneficiary is deceased. Prospectus A prospectus is a printed summary of information about the investment/mutual fund and its business that helps investors decide whether to invest. Qualified Domestic Relations Order / QDRO A type of court order typically found in a divorce agreement that recognizes that an ex-spouse, child or dependent is entitled to receive a defined portion of the participant s retirement account. Rebalance A reallocation of an existing account balance to equate to a participant s future contribution investment election percentages. Record-keeper In simplest terms, a record-keeper is an entity responsible for keeping records. In context of an employer sponsored retirement Plan, a record-keeper keeps track of details and history of the retirement Plan. Do not copy or distribute outside original intent. PAGE 32 of 35

34 Required Minimum Distribution (RMD) The Internal Revenue Service (IRS) has determined that when a participant reaches age 70 1 / 2, he/she must withdrawal some of their money in their employer sponsored retirement Plan account. The act of that withdrawal is defined as a required minimum distribution. The minimum amount of the withdrawal is determined by an IRS formula. Rollover A rollover is the act of moving money from one retirement account into another. Typically the movement of money is due to a participant being no longer employed under one employer and money is being moved from the old employer into the new employer s retirement Plan. This may also be referred to as a direct rollover. Service Provider This is an entity that provides service to you, which could be your third party administrator, recordkeeper, or both. Summary Plan Description (SPD) A document containing a description of the employer sponsored retirement Plan, including terms and conditions of participation. Sources A source is the origination of contributions within an employer sponsored retirement Plan. Sources are typically an employee contribution or an employer contribution, and can be broken down further into an employee pre-tax, after-tax, or Roth contribution, or an employer profit sharing, employer match, employer safe harbor non-elective contribution, just to name a few. Third Party Administrator (TPA) The TPA is the entity that is employed by the sponsor to perform the administrative work on the Plan, such as loan or distribution approval, creating the Plan document, compliance testing, and completing the Form 5500 annually to fulfill IRS requirements. Vesting Vesting refers to the participant s portion of ownership of contributions made by the employer. The Plan may establish vesting schedules which grant ownership to the employee of the employer contributions either by set percentage over a period of years (graded vesting), or 100% ownership after a set time period (cliff vesting). All employee contributions are immediately 100% vested. Wire Transfer A wire is a method of electronic funds transfer which can be made from one bank account to another, or through a transfer of cash at a cash office. Wire transfers generally deliver money more quickly than ACH, but often incur a fee. Money can be moved via wire to send withdrawal or loan proceeds to a bank account, or could be used to send money to the retirement Plan s custodian to fund contributions. Do not copy or distribute outside original intent. PAGE 33 of 35

35 Withholding Withholding is money that is removed from proceeds of a withdrawal or distribution, when that withdrawal or distribution is considered taxable income as determined by the IRS. The withheld amount is then forwarded to the IRS in order to pre-pay all or a portion of the taxes. Any additional income taxes owed or refunded are determined at the time the participant files his/her personal income tax return. Year of Service A Year of Service (YOS) is a 12-month period during which an employee is credited with service for benefit accrual, eligibility or vesting purposes. A year of service is obtained through either the Elapsed Time or Hours of Service methodology. Do not copy or distribute outside original intent. PAGE 34 of 35