Common use of PROTOTYPE RETIREMENT PLANS Clause in Contracts

PROTOTYPE RETIREMENT PLANS. Founders' personnel will provide the following services on prototype non-TRAC2000 retirement plans (TRAC2000 retirement plans are serviced on behalf of the Fund by a third party, pursuant to separate contract): (1) Review previous Adoption Agreements (if applicable) and assist investors in completing the Founders Adoption Agreement. (2) Review the Founders Adoption Agreement to ensure compliance with ERISA and IRS regulations. (3) Complete the Summary Plan Description for the Founders Adoption Agreement. (4) Ensure that employers have all the necessary forms to administer their plans. (5) Review employee enrollment forms. (6) Create documentation which consolidates the information from the enrollment forms and forward such documentation to the employer. (7) Create and maintain documentation reflecting contributions, loans, terminations and other types of plan transactions. (8) Handle all money movements including purchases, exchanges, redemptions (due to terminations or hardship withdrawals, or loans), and similar functions.