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Please Note...

This page offers technical and other detailed information that many of our 401k clients find superfluous (and boring); all they care about is that 401k Easy Online is secure and easy to use.

If you do choose to read the below, please don't feel intimidated by its details (particularly in the three "processing features" sections). We offer the specifications because we've received requests for the information. You can easily use 401k Easy Online without understanding its inner-workings much as you can operate an automobile quite successfully without understanding the functionality of what's under the hood.

Remember, 401k Easy Online knows the rules and regulations, so you generally don't have to — and the system has a convenient context-sensitive Help system, so you can access explanations any time your need them.

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[topic 2]

General System Features

401k Easy Online is lightening fast and powerful, yet easy to use.

Functions and capabilities are divided between two web portals (called Gateways): the Plan Sponsor Gateway (click here to go to details page) and the Plan Participant Gateway (click here to go to details page).

Each Gateway is customized to the features you choose to include in your 401k plan ( click here for plan customization options).

Basic system features include:

-- Pages that load in seconds, even on low bandwidth, dial-up connections ( view details)

-- Capacity for an unlimited number of 401k investment options

-- Capacity for an unlimited number of plans (as limited by IRS rules) and employees for each plan

-- User-defined data archival periods, wherein you can define the number of days you want 401k Easy Online to keep detailed information “live”. For example, if 90 days of information are kept “live”, the system automatically moves all prior activity to an archived database and posts starting totals (by fund, by source) to the “live” table to keep balances accurate.

-- Archived data that's accessible, as appropriate, through both Gateways

-- A detailed audit trail of all changes made to the database, including the date and time a change was made, the user who entered the change, the effect of the change, and the type of change made

-- A running record of fulfillment of employee requests (key to ERISA 404c fulfillment; click here to read about 401k Easy Online's ERISA 404c features)

-- An Online Help system that provides context-sensitive help

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[topic 2]

General System Features

401k Easy Online is lightening fast and powerful, yet easy to use.

Functions and capabilities are divided between two web portals (called Gateways): the Plan Sponsor Gateway (click here to go to details page) and the Plan Participant Gateway (click here to go to details page).

Each Gateway is customized to the features you choose to include in your 401k plan ( click here for plan customization options).

Basic system features include:

-- Pages that load in seconds, even on low bandwidth, dial-up connections ( view details)

-- Capacity for an unlimited number of 401k investment options

-- Capacity for an unlimited number of plans (as limited by IRS rules) and employees for each plan

-- User-defined data archival periods, wherein you can define the number of days you want 401k Easy Online to keep detailed information “live”. For example, if 90 days of information are kept “live”, the system automatically moves all prior activity to an archived database and posts starting totals (by fund, by source) to the “live” table to keep balances accurate.

-- Archived data that's accessible, as appropriate, through both Gateways

-- A detailed audit trail of all changes made to the database, including the date and time a change was made, the user who entered the change, the effect of the change, and the type of change made

-- A running record of fulfillment of employee requests (key to ERISA 404c fulfillment; click here to read about 401k Easy Online's ERISA 404c features)

-- An Online Help system that provides context-sensitive help

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[topic 3]

Account Setup and Maintenance

Your company can run one or more retirement plans via 401k Easy Online. 401k plans are by far the most common.

-- The system places only legally-imposed limits, if any, on the number of qualified plans you can sponsor.

-- If your company already has a retirement plan, we can easily convert it for use with 401k Easy Online, particularly if its a 401k plan. All plan conversion services are free (although we can't speak for your current provider; certain exit fees may apply); you can likely even keep and/or add to your current 401k investment list. Contact us if you're interested in converting your existing 401k plan for use with 401k Easy Online.

-- 401k Easy Online places only legally-imposed limits, if any, on the number of employees that can enroll in any particular plan.

-- 401k Easy Online has an import filter for initial import and setup of employee records.

-- The system automatically identifies highly compensated employees based on published parameters, and integrates the information into its IRS compliance testing functions, which can be run — in seconds — as often as you want.

-- Employees can participate in multiple plans simultaneously (within legal limits); 401k Easy Online monitors each employee's activity on a per-plan as well as cumulative basis.

-- You can add, update, and delete (more accurately, disable from participation) employee information at any time through your customized Plan Sponsor Gateway (to read more about your customized Plan Sponsor Gateway, click here).

-- 401k Easy Online allows for flexible plan years, including short plan years, defined on a plan-by-plan basis.

-- 401k Easy Online allows for flexible payroll cycles defined on a plan-by-plan basis.

To set up a 401k Easy Online self-service 401k account for your company, either submit an order form or simply contact us and we'll take things from there.

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401k Contribution Processing Features

401k Easy Online offers powerful yet easy-to-use contribution processing functions. Most processing functions are highly automated to your customized 401k plan: you simply upload the period's payroll data and click "Process".

Advanced options for special situations and more complicated 401k plans are present, however, and at your service at a mouse click. Advanced options include...

-- Six predefined contribution columns (money sources), three predefined loan payment columns, and four predefined compensation columns (Profit Sharing Compensation, Matching Compensation, Testing Compensation, 404c Compensation) for regular processing.

-- The ability to process “special allocations” at any time for any money source.

-- A built-in “Matching Calculator” to automatically calculate any employer matching amounts based on Matching Compensation.

-- A built-in “Profit Sharing Calculator” to automatically calculate any profit sharing amounts based on Profit Sharing Compensation.

-- The ability to upload contribution, loan, and compensation data (using a predefined import file format) directly through the Web interface.

-- Validation checking with automatic generation of an error/exception report.

-- A flexible contribution system with the ability to do general contribution processing at any time.

-- The ability to process negative amounts. (Negative amounts do not automatically generate disbursements.)

-- Contribution processing automatically held until money is deposited into the trust account.

-- The ability to generate an export file to a trading platform and/or asset custodian system and to import and process trade confirmation information from that system.

-- The storage of all necessary information for processed allocation records including PlanID, EmployeeID, FundID, TransactionID, LoanID (for loan related activity), NAV, Source, and As Of or Effective Date, Trade Date, Settlement Date, Amount, Shares, and Description.

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[topic 5]

401k Loan Processing Features

You can offer the highly-popular 401k option of 401k loans within your company plan without worry, because loan processing is simple with 401k Easy Online:

-- 401k Easy Online allows for up to three concurrent, independent loans per participant per plan.

-- 401k Easy Online automatically calculates available loan amounts.

-- Loans are set up using the following key criteria: Principal amount, Duration, Interest Rate, and Payroll Frequency.

-- Loan fees are included in APR (annual percentage rate) calculation.

-- Loan payments are automatically allocated between principal and interest portions.

-- Normal repayments, negatives, partial payoffs, and complete payoffs can be accommodated.

-- Loan re-amortization is made based on changes in duration or pay frequency.

-- Loan delinquency reports are generated, with e-mail notifications sent to the employee/participant.

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[topic 6]

401k Distribution and Transfer Processing Features

Processing 401k distributions and transfers is simple with 401k Easy Online:

-- 401k Easy Online automatically calculates amounts available for distribution, taking into account pertinent factors such as outstanding loan amounts and vested account balances.

-- Transfers and distributions are limited by Fund/Source activity.

-- Spousal consent is determined by the Plan Administrator when approving distribution requests.

-- 401k Easy Online generates an export file for the asset trading platform and check writing systems (if applicable), and imports and processes trade confirmation information from those systems.

-- 401k Easy Online automatically processes residual distributions and transfers.

-- 401k Easy Online splits distributions with a portion as cash and a portion as a rollover, with the ability for the rollover portion to be processed independently of the cash portion.

-- 401k Easy Online automatically notifies the designated plan administrator (whether that person be employed by the Plan Sponsor or Enginuity licensed Provider) via e-mail of any hardship suspensions.

-- 401k Easy Online allows transfers in the form of $ to $, % to %, $ to %, and realignments. Transfers can be performed at the source level or for an entire account.

-- If an account is “Pending QDRO” the system displays a warning flag during distribution, transfer and loan activity.

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