Midwest Agency

Retirement Plan Review Process

Step One: Current Plan Documentation and Design

  • Employer census of all employees
  • Current plan and trust document (including all amendments)
  • Annual summary valuation statement
  • Investment policy statement
  • Summary Plan Description
  • Copy of employer and participant statements
  • Estimated annual employer/employee contributions – 3 to 5 years
  • Enrollment and educational material

Step One: Current Plan Documentation and Design

  • Employer census of all employees
  • Current plan and trust document (including all amendments)
  • Annual summary valuation statement
  • Investment policy statement
  • Summary Plan Description
  • Copy of employer and participant statements
  • Estimated annual employer/employee contributions – 3 to 5 years
  • Enrollment and educational material

Step Two: Compliance Review

  • IRS Determination Letter
  • Copy of most recent annual report IRS 5500 Form
  • Investment contract or annuity contract
  • Administration fee agreement/contract
  • Investment line-up and investment policy statement

Step Three: Review

  • Plan design
  • Plan administrative expense
  • Third party plan (if required)
  • Asset management fees and expenses
  • Investment policy statement
  • Educational strategies and enrollment process