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Page 1 401k Plan Feasibility Study Request and Confidential Employee Information Pension Advisors, Inc. WE KNOW PENSION PLANS Advisor Information Name(s): Designation: Agent #: Name(s): Designation:

How to fill out 401k proposal request

Who needs a 401k proposal request?

1. Small business owners or human resources personnel: Small businesses that offer a 401k plan to their employees may need to fill out a 401k proposal request to gather information and compare different plan options from providers.
2. Employees: Individuals who are interested in participating in their employer's 401k plan may need to fill out a 401k proposal request to request information about various investment options, costs, and other plan details.

How to fill out a 401k proposal request:

1. Gather necessary information: Before filling out a 401k proposal request, gather essential information such as the company's name, size, industry, and desired plan features. It's important to have a clear understanding of the company's goals and the employees' needs.
2. Research providers: Identify potential 401k plan providers that align with the company's requirements. Look for reputable providers with a track record of excellent customer service, competitive fees, investment options, and educational resources.
3. Request proposal template: Contact the chosen 401k plan providers and inquire about their proposal request form or template. Most providers have a standard form that can be customized according to the company's needs.
4. Fill out the form: Start by entering the company's basic information such as the name, address, contact information, and the name of the person responsible for managing the 401k plan. Include any relevant details about the company's size, industry, and current retirement benefits offered, if applicable.
5. Specify plan requirements: Clearly outline the desired plan features, such as employee contribution options, matching contributions, vesting schedules, investment options, and any additional features like automatic enrollment or catch-up contributions.
6. Seek cost information: Request detailed information about the fees associated with the proposed 401k plan. This may include administrative fees, investment management fees, transaction fees, and any other charges that might be applicable.
7. Request additional information: If there are specific questions or concerns, include them in a separate section or as part of the overall proposal request. Seek clarification or details on topics such as plan compliance, employee education, online access, and customer support.
8. Review and submit: Double-check the completed form for accuracy and completeness. Ensure that all requested information has been provided. Once satisfied, submit the 401k proposal request to the selected plan providers for their review and response.

By following these steps, small business owners, HR personnel, and employees can effectively fill out a 401k proposal request and gather necessary information from plan providers to select the best option for their retirement savings.

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What is 401k proposal request?

401k proposal request is a formal submission to the plan administrator or provider requesting changes, updates, or additions to the 401k retirement plan.

Who is required to file 401k proposal request?

Any participant or beneficiary of the 401k retirement plan may file a proposal request, but it is typically done by the plan sponsor or administrator.

How to fill out 401k proposal request?

To fill out a 401k proposal request, one must provide detailed information about the requested changes, updates, or additions, along with any supporting documents.

What is the purpose of 401k proposal request?

The purpose of a 401k proposal request is to improve the 401k retirement plan, address any issues or concerns, and enhance the overall benefits for participants.

What information must be reported on 401k proposal request?

The 401k proposal request must include details such as the proposed changes, reasons for the request, potential impact on participants, and any relevant financial information.