- Offering the plan to employees can be easy; we can assist you with that process.
- We determine if an employee is eligible for The Plan. However, you must provide employees with your Plan’s Deferral Agreement and Summary Plan Description.
- LRS will help with enrolling employees by creating a comprehensive enrollment kit for distribution to employees.
- You must offer enrollment to employees and require submission of an enrollment form, which is provided by LRS.
- You must distribute the Summary Plan Description and Rollover Form to each new hire, on their day of hire. This information can be obtained through your Plan Administration Portal located at: https://www.leadingretirement.com/portal/.
- As a reminder, failure to offer the plan to eligible employees will result in a plan violation requiring that your company pay significant penalties, taxes, and costly and time consuming filings with the Internal Revenue Service and Department of Labor.
- Each employee, including yourself, has the right to roll outside/old retirement accounts into the Retirement Plan on their hire date, Leading Retirement Solutions will help you with this.
- You cannot exclude “Part Time” employees from the plan. There are employees you may exclude from the plan, as defined in The Plan’s legal documents. Ask an LRS team member if you need assistance in making this determination.
- If you hire 1099/independent contractors, union workers, and/or leased employees, please contact us to discuss additional requirements.
- Required Documents and Forms for Eligible Employees
- For additional information about who qualifies as an employee please visit this link: Plan Design: Non-Traditional Assets
- Webinar: You Hired Employees, Now What?
Leading Retirement Solutions
(206) 430-5084 phone
(800) 974-2814 (toll free)
Our mission: to proactively support organizations and lead them toward a secure future.