In addition to the above, we generally recommend the following for 401k Easy Docs prototype plans:
|PLAN PARAMETER||RECOMMENDATION FOR MOST Small 401k PLANS*|
|PLAN YEAR||January 1 - December 31|
|NORMAL RETIREMENT AGE||65|
|EARLY RETIREMENT AGE||No early retirement age|
|HARDSHIP WITHDRAWALS||Include (mandatory under IRS regulations)|
|PARTICIPANT ACCOUNT STATEMENTS||Monthly. With Small 401k, plan participants have the self-service freedom to view/print account statements at any time.|
Understanding the potential effect each option has on a 401k plan's popularity and thus its worth cannot be universally mapped out, as such vary with company size, worker preferences and other company-specific parameters. We are happy to discuss potential effects with you and recommend that interested parties submit the appropriate order form and use the "Unsure. Please contact..." buttons to indicate about which items you need more information. As explained within "No Money Due at This Time: The Order Fulfillment Process"
No Money Due at This Time: The Order Fulfillment Process
A 401k Easy Docs representative will call you within 24 hours of your submission of an online order form. The representative will explain and help you with understanding any items you marked as "Unsure" in the order form, and to answer any additional questions you have.
After all your questions are answered, if you want to proceed with your order you will be able to pay the one-time setup fee over the phone using your Visa, MasterCard, or by mail using a check; there is a five-day holding period on all check orders.
As soon as we receive your setup fee, we will prepare your official 401k Adoption Agreement and Summary Plan Description, and send them to you for your review and approval. (see above), submitting an order form in no way obligates your company to placing an order.