Introduction... Entrance into 401k Enginuity for a licensed Provider and its clients occurs through three web portals: the licensed Provider Gateway, the Plan Sponsor Gateway, and the Plan Participant Gateway. The exact features and capabilities accessible through each gateway depend on the customization options the licensed Provider and, subsequently, the Plan Sponsor and, subsequently, the eligible employee has chosen, respectively, for the system, plan, and individual 401k account. This page explains features being built into the master 401k Enginuity Plan Participation Gateway. back to top The Plan Participant Gateway... 401k Enginuity empowers plan participants to serve themselves — at any time, day or night, from any location connected to the Internet — to their 401k account activity and information. -- 401k Enginuity self-service plan participation gives eligible employees on-the-spot access to enrolling in the plan, updating personal information and investment designations, viewing/printing activity reports and account statements, and 401k loan, transfer and distribution modeling and/or new submissions, among other things. -- Self-service plan participation is extremely convenient for plan participants and can greatly boost plan participation rates. -- Self-service plan participation means far less work for the plan administrator (whether that administrator is the Plan Sponsor, in the case of self-service plans, or Provider personnel, in the case of full-service plans). -- Self-service plan participation means the licensed Provider can stay completely out of day-to-day plan participation activity — yet monitor and/or get involved in activity at any time. 401k Enginuity creates a home page for each plan participant. Upon login, the participant arrives at the home page, which welcomes the participant to the system's self-service plan participation functions and, subject to the Provider's and/or Plan Sponsor's desires, shows the participant's investment designations, account balances, recent account activity, etc. Any current bulletins the Plan Sponsor and/or Provider has created via 401k Enginuity are also displayed on each participant's home page. back to top
	Introduction
	The Plan Participant Gateway
	Participants Update Information Themselves
	Participants Update Investment Designations Themselves
	Participants Monitor, Model and Apply for Loans, Transfers, and Distributions Themselves
	Participation Is More Than Just Password-Protected
	All this Self-service Equates to Low Overhead for the Provider and Marketability to Plan Sponsors
	Live Online Demo of Plan Participant Gateway

Participants Update Information Themselves... Plan participants never have to involve the plan administrator — whether that administrator is the Plan Sponsor, in the case of self-service plans, or Provider personnel, in the case of full-service plans— in routine account information updates: -- Plan participants update personal information themselves, online, at their leisure. Participants can amend their address, telephone number(s), disbursement preferences, passwords, and more. 401k Enginuity immediately notifies the designated plan administrator via e-mail of any changes. -- The Provider and, at the Provider's discretion, Plan Sponsor can elect to mandate that the designated plan administrator approve changes before they can become effective. (Unless the plan is fairly small, however, such is not recommended by Pension Systems Corporation because it can become too time consuming for the plan administrator.) back to top

Participants Update Their Investment Designations Themselves... Plan participants never have to go through their designated plan administrator (whether that administrator is the Plan Sponsor, in the case of self-service plans, or Provider personnel, in the case of full-service plans) to access and/or amend their salary deferral rates and/or their investment designations. -- 401k Enginuity displays for the participant all available plan investments and indicates those to which the participant is contributing and at what rates. -- 401k Enginuity also gives the participant options for amending his/her designations. -- The licensed Provider or, at the Provider's discretion, Plan Sponsor can elect to mandate that the designated plan administrator approve changes before they become effective. -- All investment and salary deferral designations are restricted within 401k Enginuity by rates allowable under the current federal law. -- In addition, the Provider can impose restrictions on investing, such as monthly minimums per investment; any such restrictions are incorporated into the Provider's 401k Enginuity and applied to all relevant functions within all Gateways. -- Any changes the Provider chooses to make to such restrictions are easily communicated to plan participants via 401k Enginuity Bulletins functions. back to top

Participants Monitor, Model and Apply for Loans, Transfers, and Distributions Themselves... Plan participants never have to go through their designated plan administrator — whether that administrator is — for transaction information (on existing loans, transfers, distributions, etc.). Instead, participants simply go online and access the information themselves. In addition, participants considering a new loan, transfer or distribution can have 401k Enginuity model the effect of such on their 401k account: -- During the modeling process, 401k Enginuity calculates the availability of funds based on money sources, aged buckets (if applicable), and other applicable rules. -- To accept a new loan, transfer or distribution, the participant must correctly answer one of his or her “secret” questions that the employee established in setting up his or her Log In name and Password (see below). -- New loans, distributions, and transfers must be approved by the designated plan administrator and are indicated as “Pending” until so approved. -- 401k Enginuity gathers all the information the designated plan administrator needs to approve or deny an application. -- The Provider (or at Provider's discretion, the Plan Sponsor) can have 401k Enginuity decline any new submissions for loans, transfers or distributions if an application for such is already in the system as pending approval of the designated plan administrator. This works as a safeguard against plan participants flooding the system with applications for the same transaction while the plan administrator awaits, for instance, consent of spouse approval. Within the Loans, Transfers, and Distributions panel, the participant also has the option of downloading and/or printing necessary forms to request loans, distributions, and transfers in person from the designated plan administrator and to manually perform other related account maintenance activities. back to top

Participation Is More Than Just Password-Protected... Plan participants enter the Plan Participation Gateway by keying in the user name and password they established during their first visit. -- The designated plan administrator — whether the Plan Sponsor, in the case of self-service plans, or Provider personnel, in the case of full-service plans — issues a temporary password for that first visit to allow an employee entrance into the system. -- Eligible employees not currently enrolled in the plan can easily be granted temporary passwords by the designated plan administrator so they can investigate the system and see how easy saving money via the company's online 401k plan will be.  -- When establishing their user name and password, plan participants also establish three identifying questions and answers, such as "Mother's maiden name?" answer: "Johnson." The questions are later used to confirm the participant's identity when the participant applies for a 401k loan, for instance, or forgets his/her password. -- 401k Enginuity houses a complete log of each employee's user name, password and three questions/answers within the Plan Sponsor Gateway (which is also accessible to authorized Provider personnel); plan participants can request help from the designated plan administrator (via the 401k Enginuity, in person, by phone, etc.) at any time. back to top

All This Self-service Equates to Low Overhead for the Provider and Marketability to Plan Sponsors... Plan participation is self-service with 401k Enginuity. -- Self-service plan participation means participants can access their 401k accounts anytime from anywhere. This highly popular flexibility makes 401k Enginuity plans popular with plan participants and thus highly marketable to Plan Sponsors. -- 401k Enginuity allows the licensed Provider the flexibility of promoting its self-service plan participation with both full-service (i.e., administration handled via 401k Enginuity by the Provider) and self-service (administration handled via 401k Enginuity by the Plan Sponsor) 401k plans with very low overhead on the service. -- 401k Enginuity self-service plan participation means whomever (be it Plan Sponsor or licensed Provider) is using 401k Enginuity to run the 401k plan is freed from numerous tasks, such as fulfilling participant requests for enrollment, information, forms, address updates, and more. -- 401k Enginuity self-service plan participation means the licensed Provider can have the system preprogrammed to access all information a participant is likely to request, including investment information and prospectuses, thus completely freeing the Provider from day to day participation activities (but always with complete oversight capabilities of those activities). -- Self-service plan participation means such a greatly reduced plan administration load that most plans can be run — whether by authorized Provider or Plan Sponsor personnel — via 401k Enginuity in less than 15 minutes a month, on average. back to top

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