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| IRS 2008 Plan Limits |
| Recently the IRS announced updated benefit and contribution limits that apply to qualified retirement plans. This is welcome news for the many of you who operate in the small business, retirement plan market.
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Document #:
0011135XX 10/2007
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| Micro(k) Plan Administrators Guide |
| A Micro(k) Plan combines current employer tax savings with retirement security for Participants. In order for the Plan to obtain and keep its qualified status, the Plan Administrator must perform certain duties. This manual is intended to in complying with the rules governing Plan administration. We suggest that you print-out and/or email this guide to the Plan Sponsor. |
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Document #:
SA-11073 Ed. 5/04
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| Micro(k) Administrative Forms |
| This booklet contains Administrative Forms for your Micro(k). These have been included because they are either required under the Plan or by law, or they are necessary to properly administer the Plan. SAI is available to lend assistance on a fee-for-service basis at hourly rates should the Plan Administrator need assistance with any of these forms. We suggest that you print-out and/or email this guide to the Plan Sponsor. |
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Document #:
SA-11074 Ed. 4/06
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| Salary Deferral Election Form |
| Although provided in the Micro(k) Administrative Forms booklet, this form is displayed separately due to its importance. For each eligible participant to make a salary deferral election, they need to have this form completed PRIOR to the final payroll within the Plan year. Salary deferral monies must be contributed to the Plan & Trust investments and life insurance policies within 15 days of the salary deferral (or sooner if feasible). |
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| Beneficiary Designation & Instructions |
| Although provided in the Micro(k) Administrative Forms booklet, this form is displayed separately due to its importance. Because the Plan & Trust must be the owner and beneficiary of ALL the trust assets, a separate form is required for each eligible participant to designate the beneficiaries of his or her account balance. Married individuals must follow special rules. The completed form should be filed with the Plan Administrator and a copy sent to SAI so that we may assist you in the event of a claim. |
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| IRS Form SS-4 Application for Employer Identification Number |
| If the Employer does not currently have an Employer Identification Number (EIN), one must be applied for and received from the IRS. The EIN will be stated in the Plan Adoption Agreement and on any IRS Forms filed for the Plan in the future. To obtain an EIN, review the IRS Form SS-4 (also available at www.irs.gov) and follow the Instructions carefully. The form may be completed and filed with the IRS via mail or fax, or the EIN can be received by telephone and used immediately by calling the IRS at (800) 8299-4933 between the hours of 7 am to 10 pm Eastern Standard Time. The EIN may also be applied for via the internet at www.irs.gov/businesses. Once you have retained SAI to create your Plan Adoption Agreement, you will be asked for your EIN. |
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Document #:
SS-4 Rev. 7-2007
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