Form s are prepared to a signature-ready level for the sponsor to submit to the IRS website. Employee Fiduciary also prepares Summary Annual Reports for each client. This service is included in our annual fee. Participants can also change investment elections, initiate transfers, model loans, use a retirement plan calculator and update personal information.
We do not Mortgage Company License any plans with life insurance contracts or assets which cannot transfer to MG Trust. Confirm with your Sales Associate if you have questions regarding any specific existing plan assets. As a directed trustee MG Trust will not exercise any oversight of plan administration, investment selection, or performance.
Annual certified trust statements are provided to MG Trust directed trustee clients. Employee Fiduciary does not limit trades to a minimum size. Contribution limits are set by the IRS annually.
Quarterly participant benefits statements are posted Ilk Company within 15 business days of quarter-end. We will provide you with a copy of our Participant Website Instruction booklet.
You will provide this to participants during enrollment meetings and as new employees become eligible for the plan. The website is designed to be intuitive and includes help-icons and imbedded tutorials. We will also provide a Franklin Telephone Company Vt manual. At plan establishment, an installation specialist will be assigned to your plan to manage its onboarding process.
We offer all mutual funds that are NSCC-tradable, available through our custodial platform and open for new investing, including all Vanguard Funds. There are nearly 30, share classes from fund families to choose from. Availability is subject to rules set by each fund distributor.
With our open architecture fund availability, you can select funds from various fund families. For example, you can offer your employees funds from Vanguard, T Rowe Price, Fidelity, and many others. Employee Fiduciary offers an open architecture fund line-up, with no mark up or proprietary investment requirements. Any mutual fund that is NSCC tradable, available through our custodian Mg Trust Company 401k Trust and open for new investing can be selected for your plan.
Searching Morningstar. Details included on Morningstar. Also included will be information regarding any fees associated with the fund. TD Ameritrade may also charge an additional fee.
We work with over investment advisors across the country. This matches national industry averages. See our Advisor Directory. Your sales consultant can help you navigate the different options available and help you select the best one for your business. We offer every major exchange traded fund. ETFs, unlike mutual funds, are bought and sold like a stock and consequently have trading costs and other fees to allow the purchase and sale of fractional shares. Ongoing fees may be deducted out of plan assets or billed to the company.
Any fees deducted from plan Mg Trust Company 401k are allocated pro-rata based on account balances, in keeping with best practice recommendations from the Department of Labor. Employee Fiduciary calculates fees based on eligible employees whether the employee has an account balance or not.
The number of eligible employees reported on the previous year Form is used for determining number of eligible employees for current year billing. Rai Trade Marketing Services Company sharing payments can be used to offset our fees or reallocated to participant accounts.
Examples of fees which cannot be deducted from plan assets include fees associated with the calculation and processing of any refunds due to non-discrimination testing failures, any employer requested plan amendments, and calculations on late contributions.
Minimums, if applicable, are always set at a plan level, not per participants. If you have questions about specific fund availability, please let us know. Employee Fiduciary will pay the custodian fees from the asset based fee that is included in our annual administration fee. Yes, you will have the same client relationship manager for all your plans. This allows both you and Employee Fiduciary to strengthen relationships to better serve your clients.
We'll collect your fees and remit them to you or your OSI. Customized enrollment booklets can be ordered for an additional fee. You can opt to have view only access or access to make trade and allocation changes on the behalf of the participants. We have no ownership stake, nor receive any direct compensation or benefit from any service providers, investment managers or mutual fund companies with whom we work. All staff members are required Mg Trust Company 401k receive baseline and ongoing training and are encouraged to further their education thru additional coursework and examination by ASPPA.
There are no minimum requirements for assets or number of participants. Startup plans are welcome. Approximately 75, participants are covered by these plans. Menu Close.
Will you please describe your daily valuation record keeping software? Will you please describe the information and transaction capabilities participants receive through the participant website? Participants can view the following information on the web: Total balance by source and fund Vested balance by source and fund Current investment elections Mutual fund fact sheets from Morningstar Rate of-return Transaction history Loan history Statements Forms Participants can also change investment elections, initiate transfers, model loans, use a retirement plan calculator and update personal information.
Where will the plan assets be held? What timeline can I expect when establishing a new or existing plan at Employee Fiduciary? What services does MG Trust provide to my plan? What if I own multiple companies? What are the contribution limits? How do participants receive benefits statements? How can participants and sponsors access information on the plan?
How are employees trained on how to use the website? How are employee and employer contributions remitted to Employee Fiduciary? Does your firm accept trade instructions by phone? We require that all trade orders are submitted via the participant or sponsor website.
Does the participant website support foreign languages? The participant website is available in both English and Spanish. Do you provide SSAE 16 reports on your internal operations, record keeping system and custodial systems in support of a limited scope audit? Do you have a toll-free number for participants who need assistance? The participant helpline is open ampm Central Time. Do you assign a single relationship manager to my plan? What type of investments do you offer?
What fund families does Employee Fiduciary offer? How do I look up available funds? Do you offer self-directed brokerage accounts? Do you offer investment advice?
What are my payment options and when is payment due? What are Employee Fiduciary fees? How do clients pay your fees? How are Employee Fiduciary fees calculated? Does your firm refund any revenue sharing payments it receives from plan assets?
Can all expenses be deducted from plan assets? Are there any minimum account balances? Are there any fees associated with MG Trust?
How will my fees be paid? Do you offer enrollment material? An instruction manual will be provided in your enrollment kit. Can advisory fees be paid out of plan assets?
If the plan sponsor chooses to have advisory fees paid from plan assets. Will you please describe a breakdown of your primary sources of revenue? What types of retirement plans do you service? What type of credentials do your employees have? What is your average plan size and is there a minimum? What differentiates Employee Fiduciary from competitors? Key differentiators include: We offer over 30, mutual funds with no mark up or proprietary investment requirements, including Mg Trust Company 401k the Vanguard Funds.
We charge low, transparent and flat fees. All customers have a dedicated client relationship manager for their plan.
Broadridge, a global Fintech leader with over $4 billion in revenues, helps clients get ahead of today’s challenges to capitalize on what’s next with communications, technology, data and analytics solutions that help transform their businesses.…
MG Trust also maintains liability and E&O coverage with a limit of $10 million. In addition, MG Trust carries a STAMP Bond with a $5 million limit. Also included is a Financial Institution Bond providing $10 million in coverage for losses resulting from employee or third-party dishonesty and robbery, and first-party computer crime.…
Contact Information : MG Trust Company, LLC A wholly owned subsidiary of Matrix Financial Solutions, MG Trust, a Colorado non depository trust company, provides custodial, trust and/or cash agent services for approximately 30,000 retirement plan accounts, totaling more than $28 billion in assets.…
Note: By logging into the Website, I certify that I have read and agree to the terms and conditions of the LT Trust Company, Inc. Website User Agreement. Participants -- access your account on our mobile app.…
MG Trust Company primarily supports the third-party administrator customers for MSCS. Our customers are investors, financial intermediaries, plan sponsors and administrators who desire to work ...…
LT Trust is a leading national provider of trust and custodial services, including open architecture 401(k) plans. We administer more than 4,900+ plans with $4.6B in assets. Our low cost 401(k) plan solutions provide access to hundreds of fund families without imposing any product requirements. *as of 12/31/19…
Broadridge delivered strong financial results again in 2019. As a global Fintech leader driving business transformation, our next-gen technologies drive industry solutions for mission-critical functions that enable corporate governance, power capital markets and grow wealth and investment management.…
LT Trust is a leading national provider of trust and custodial services, including open architecture 401(k) plans. We administer more than 4,900+ plans with $4.6B in assets. Our low cost 401(k) plan solutions provide access to hundreds of fund families without imposing any product requirements.…
Visit Our Tax Center. If this is the first year your account was rolled out of your previous company’s retirement plan into a Millennium Trust IRA, it kicked off a series of tax reporting requirements by the IRS.…