Plan Set-Up Clause Samples
The Plan Set-Up clause outlines the procedures and requirements for establishing a new plan, such as a retirement or benefits plan, within an organization. It typically details the steps necessary to initiate the plan, including documentation, enrollment processes, and any initial contributions or administrative actions required. This clause ensures that all parties understand the foundational steps needed to properly implement the plan, thereby reducing confusion and ensuring compliance with relevant regulations.
Plan Set-Up. Transfer Agent shall:
(a) Establish the SIMPLE IRAs on appropriate systems based on the information submitted by the Employer on the plan application; and
(b) Provide each Employer access to an Internet web-based software ("Plan Web") for the Employer to transmit payroll information for individual Participants or assist each Employer to use Automated Clearing House ("ACH") as the funding method for payrolls.
Plan Set-Up. We may decide in our sole and absolute discretion whether to accept payments from you under a payment plan. If we agree to a payment plan for you and you agree that your payments will be made by automated means, either by periodically withdrawing money from your bank account or charging a credit card, the Bill Payment Service Provisions above shall apply to you.
Plan Set-Up. The Bank shall:
(a) Establish the SIMPLE IRAs on the DST Systems, Inc. TRAC-2000 System (hereinafter referred to as the "TRAC-2000 System") based on the information submitted by the Employer on the plan application.
(b) Provide each Employer with PLANLINK software for the Employer to transmit payroll information for individual Participants.