Frequently Asked Questions

Plan Documents and DGEM Frequently Asked Questions

Periodically, ASC receives questions regarding the ASC Document Generation and Management (DGEM) system, the ASC “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 answers.

[+][-] Why should I consider using the ASC documents and the DGEM system?
The ASC prototype and volume submitter plan documents combined with the DGEM system give practitioners a better way to create and manage their clients’ qualified plans. ASC permits users to:

  • create volume submitter and prototype plan documents, with a user-friendly document generation system designed with built-in default provisions and validation checks;
  • create customized document templates using their own default provisions;
  • create SPD’s and Plan Summaries that are easy to read and reflect the entire plan;
  • send e-signature ready plan documents and resolutions to plan sponsors;
  • batch generate and email annual notices to plan sponsors;
  • easily amend documents using our special substitute clause feature, which also provides for the automatic retention of each prior document version for historical reference;
  • perform online queries and export document provisions and historical data (e.g., list all plans that meet certain design specifications, such as all plans that do not offer Roth contributions);
  • generate pre-populated administrative forms (e.g., hardship forms or distribution forms) on an as-needed basis based on plan specific data;

We have developed creative plan design features that simplify the process of creating plan documents. Our documents have also been drafted with maximum flexibility to meet your clients’ plan design needs. ASC also understands 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.

[+][-] What experience does ASC bring to the table with respect to documents & document generation systems?
ASC, partnered with Charles Lockwood J.D., LL.M and John Griffin J.D., LL.M, has a combination of the knowledge and experience that has produced “the” premier plan document and document generation system. Charles Lockwood and John Griffin each have over 35 years experience in drafting plan documents and providing technical and administrative support.

ASC brings over 35 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, ASC has put together a team that cannot be matched for its knowledge, experience and concern with client services.

[+][-]What pre-approved documents are on the DGEM system?
PPA Defined Contribution Prototype and Volume Submitter 401(k), PS, MP and Owner’s Only Plan Documents

EGTRRA Defined Benefit Volume Submitter Plan Documents (PPA DB documents have been submitted and are currently being reviewed by the IRS)

Contact Sales@asc-net.com for more information on how you can sponsor these pre-approved plan documents.

[+][-] Will ASC offer pre-approved Cash Balance plan documents when they become available?
Yes! The PPA pre-approved program for Defined Benefit plans was expanded to allow pre-approved defined benefit plans to include cash balance provisions under IRS Announcement 2014-4. ASC’s pre-approved Volume Submitter Defined Benefit and Cash Balance plan documents are currently under review by the IRS. We expect that the IRS will issue approval letters for these plans late 2017.

Contact Sales@asc-net.com for more information on how you can sponsor these pre-approved plan documents.

[+][-] Will ASC offer pre-approved 403(b) plan documents when they become available?
Yes! Revenue Procedure 2013-22 established a new pre-approval program for 403(b) plans. The pre-approved 403(b) plans ASC submitted to the IRS are currently under review. We expect that the IRS will issue approval letters for these plans early – mid 2017.

Contact Sales@asc-net.com for more information on how you can sponsor these pre-approved plan documents.

[+][-] Will ASC offer pre-approved ESOP/KSOP plan documents when they become available?
Yes! Revenue Procedure 2015-36 adds ESOPs to the pre-approved defined contribution plan program; however, the IRS will not consider ESOP plan features until the next defined contribution submission cycle that begins February 1, 2017. We expect that the IRS will not issue approval letters for these plans before 2023.
[+][-]Can we still sign up as a prototype and/or volume submitter sponsor of ASC pre-approved plans, even though we currently have approval letters with a different provider (such as SunGard Relius or Ft William)?
Yes! There is no restriction on switching from a different mass submitter to ASC and you can make that change at any time! We will be happy to work with you to “move” your plans from your current mass submitter to the ASC mass submitter plans.

Contact Sales@asc-net.com for more information.

[+][-] What documents, other than pre-approved prototype and volume submitter qualified plan documents, does ASC offer through the DGEM system?
In addition to the ASC prototype and volume submitter PPA defined contribution and EGTRRA defined benefit plan documents, we offer several types of individually designed and specialty plans, including:

  • 403(b) plans (both ERISA and non-ERISA plans)
  • ESOP/KSOP plans
  • Cash balance plans
  • 457(b) plans for Governmental Entities
  • 457(b) plans for Tax-Exempt Entities (coming soon!)

Each document uses a the basic plan document and adoption agreement format. Special pricing options apply to individually designed plan documents.

Contact Sales@asc-net.com for more information on how you can sponsor these individually designed and specialty plan documents.

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