Frequently Asked Questions

Plan Documents and DGEM Frequently Asked Questions


Periodically, ASCi receives questions regarding the ASCi Document Generation and Management (DGEM) system, the ASCi “mass submitter” documents and other items relating to the sponsorship of prototype and volume submitter documents. The following are some of the more frequently asked questions and their answers.
 

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  1. Why should I consider using the ASCi documents and the DGEM system?

  2. What experience does ASCi bring to the table with respect to documents & document generation systems?

  3. What is the availability of ASCi documents and the DGEM system?

  4. Can we still sign up as a prototype and/or volume submitter sponsor of the ASCi mass submitter plans, even though we originally signed up with another mass submitter (such as Sungard Relius or Datair)?

  5. May prototype and volume submitter sponsors use the ASCi EGTRRA defined contribution documents before an IRS opinion or advisory letter is issued?

  6. What documents, other than prototype and volume submitter qualified plan documents, does ASCi offer through the DGEM system?

  7. How much does it cost to use the DGEM System?

 

Why should I consider using the ASCi documents and the DGEM system?


The ASCi prototype and volume submitter plan documents and the DGEM system give practitioners a better way to create and manage their clients’ qualified plans. Using the most current technological advances and input from our clients, we have developed a document generation system that, among other things, will permit users to:
 

  • create prototype and volume submitter documents, with a user-friendly document generation system designed with built in default provisions and validation checks;
  • create SPD’s that are easy to read and reflect the entire plan;
  • simply amend documents using our special restatement or substitute clause features, which also provide automated retention of each document version for historical reference;
  • perform online queries regarding document specifications and historical data (e.g., list all plans that meet certain designated document specifications, such as all plans that do not offer catch-up contributions);
  • generate pre-populated administrative forms (e.g., hardship forms or distribution forms) on an as-needed basis based on plan specific data;


Because we created EGTRRA-compliant prototype and volume submitter documents and a new generation document system, we were not burdened by any existing limitations under prior plans and systems. We have taken the opportunity to create a document and document generation system that takes advantage of the newest technological advancements and caters to the needs and desires of our clients.


In addition, we have developed creative plan design features that will simplify the process of creating plan documents. ASCi understands the frustrations of using a system that forces you to compare the adoption agreement and SPD for language errors before sending the documents to the client. We also understand the need for quality administrative forms that you can provide to clients without having to modify or redraft the system-generated forms. We provide a complete set of administrative forms (produced on an as-needed basis) for you to send to clients without reformatting or rewriting. We are very excited about this fresh and new approach to plan documents and we believe you will agree.

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What experience does ASCi bring to the table with respect to documents & document generation systems?
 

In teaming ASC with Charles Lockwood and John Griffin, ASCi combines the knowledge and experience that has produced “the” premier plan document and document generation system. Charles Lockwood and John Griffin each have over 25 years experience in drafting plan documents and providing technical and administrative support. ASC brings over 25 years experience as a retirement plan software provider – and has a proven track record for turning advances in technology into opportunities for pension professionals to grow their businesses by improving their efficiency and functionality. Together, ASCi has put together a team that cannot be matched for its knowledge, experience and concern with client services.

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What is the availability of ASCi documents and the DGEM system?
 

The DGEM system, along with the IRS approved EGTRRA prototype and volume submitter documents, are available NOW! Many practitioners already have used DGEM to adopt or restate thousands of plans. These practitioners are far ahead in restating their clients’ plans to comply with EGTRRA.

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Can we still sign up as a prototype and/or volume submitter sponsor of the ASCi mass submitter plans, even though we originally signed up with another mass submitter (such as Sungard Relius or Datair)?


Yes! There is no restriction on switching from one mass submitter’s plans to the ASCi mass submitter plans. In fact, the IRS has made it clear that any prototype/volume submitter sponsor may switch from one mass submitter’s document to another mass submitter’s document without paying any additional user fee, provided the sponsor properly submitted its plan to the IRS by January 31, 2006 and paid a user fee with respect to that initial filing. We will be happy to work with you to “move” your submission from your current mass submitter to the ASCi mass submitter plans.

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May prototype and volume submitter sponsors use the ASCi EGTRRA defined contribution documents before an IRS opinion or advisory letter is issued?


Yes!

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What documents, other than prototype and volume submitter qualified plan documents, does ASCi offer through the DGEM system?
 

In addition to the ASCi prototype and volume submitter EGTRRA defined contribution plan and EGTRRA defined benefit plan documents, we offer several types of specialty plans, including:
 


These EGTRRA-compliant documents are available NOW on the DGEM system. Each document uses the basic plan document and adoption agreement format. Special pricing options apply to the specialty plan documents.

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How much does it cost to use the DGEM System?
 

Under the DGEM system, users pay a monthly maintenance fee of $50 plus a per-document charge based on the number of plans maintained on the system. Additional charges may apply for certain features, such as the Amendment Wizards and the specialty plan documents.

For more information regarding DGEM pricing, see our DGEM Pricing Guide.

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