Convenient Access to Robust Record Keeping Systems
IFA works with several recordkeepers, each of which provides a robust and comprehensive
sponsor website that can be accessed 24 hours a day, seven days a week.
Each recordkeeper’s site is designed to support efficient management of daily plan
participant needs and provides a single location to quickly and securely view,
monitor, and update plan information. This includes:
- • Simplified plan administration, including the ability to run compliance tests any
time
- • Full participant support, from completing transactions to ordering enrollment materials
- • Educational tools and informational updates
- • Customized quarterly administration and monthly plan confirmation reports
- • Loan modeling, loan paperwork, and distribution processing
- • Automation of census and payroll submissions
- • As-requested reporting to view plan trends and progression
Comprehensive reporting at the plan sponsor level typically includes:
- • Plan Statement
- • Plan Investments
- • Contribution Summary
- • Deferral Changes Report
- • Summary Participant Statements
- • Participant Investment Elections
- • Participant Balances by Source/Fund
- • Plan Census
- • Active Loans
- • Delinquent Loans
- • Required Minimum Distributions
- • Fee Summary
In addition to the defined reports, the platforms allow for the exporting of data
to other reporting engines. Export types include:
- • Participant Synoptic Data
- • Participant Census & Source Activity
- • Participant Statement Extract