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Request for Proposal (RFP)Guide Selecting Defined Contribution Plan Service ProvidersDeveloped by3rd Edition May, 2014The SPARK Institute, Inc. All rights and ownership of the contents and use of
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A selecting defined contribution plan is a retirement plan where employees make contributions, and the employer may also make contributions, but the final payout depends on the performance of the investments chosen by the employees.
Employers who offer selecting defined contribution plans are required to file the necessary paperwork with the appropriate regulatory authorities.
To fill out a selecting defined contribution plan, employers must gather information about employee contributions, employer contributions, investment options, and other relevant details. They can then complete the required forms and submit them according to the deadlines.
The purpose of a selecting defined contribution plan is to provide a retirement savings option for employees that allows them to choose how their contributions are invested and potentially grow their nest egg for retirement.
Information such as employee and employer contributions, investment options offered, performance of the investments, fees associated with the plan, and other relevant details must be reported on a selecting defined contribution plan.
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