Step 5: Gather Assets Now

Contributions Can Start Now

Plans must be opened before the end of the client's fiscal year-end (typically December 31) for 2012 tax savings. But opening a plan now might be beneficial. The sooner the plan is opened, the faster you can work with the client to make investment decisions.

We recommend that contributions be limited to 50% of the amount we calculate for you so that plans are not over funded. We will notify you of the full contribution amount once we have the final 2012 compensation amount. The client will have until the tax filing deadline in 2013, but no later than September 15 with extensions, to fully fund the plan.

Defined Benefit Plan Checklist

• Have you created a Defined Benefit Proposal?
• Does the client want to move forward with a DB plan?
• Have you or the client completed the Set-up Questionnaire?
• Has the questionnaire and check for set-up fee been mailed?
• Has your client received and signed the Adoption Agreement?

Once the Adoption Agreement has been signed and returned, work with your client to open an investment account and choose appropriate investments for the DB plan.

Always In The Loop

As part of our commitment to exceptional service, we keep you in touch with periodic dates and alert you to any issues that affect your client's plan.

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