Investing in Your Success

Investing in Your Success

DC/401(k) System Maintenance & Support
Behind-the-Scenes Details 2021-2022

 
 
1. Reviewing and Coding Law Changes into Your DC/401(k) System
  • SECURE, Miners, and CARES acts coding to implement new rules related to loans, distributions, partial plan terminations, long term part-time employees, and lifetime income projections
  • We’re monitoring proposals surrounding a SECURE 2.0.
 
 
 
2. DC/401(k) System Enhancements: Keeping Up with New Industry Opportunities
Recently this has included:
  • Expansion of Location functionality to handle more complexity in PEP/MEP/PEO plans, including the ability to calculate Eligibility, Allocations, Vesting by location, in addition to the existing Compliance testing by location
  • AutoEnrollment projections to understand costs if implemented
  • Safe Harbor costs calculated with ADP/ACP test to reflect the alternatives had the plan been Safe Harbor
  • Adding allocation design functionality, including a Side by Side report to compare employer allocations
  • For those acquiring blocks of plans in this busy M&A market, ASC has wizards to help make Conversions as painless as possible by creating new plans, copy employee census, account balance and history data
 
 
 
3. DC/401(k) System Enhancements: Increasing Your Efficiency
Your DC/401(k) System now provides you with additional tools to do more in less time with higher quality. Including:
  • Automation wizards – One Step Compliance, update to new period, create/copy/delete in batch
  • ASC System Integration – Plan Documents updated for Cycle 3, and 403(b) plans added. Form 5500 and 8955 imports updated. CRMS (CATTS and PensionPal) now receive Compliance Test results and Employee Distribution information to enable tracking.
  • Reconciliation/Controls report
  • Complex Compliance calculations added, including ADP/ACP “Solve Best”, and Controlled Group and Union testing. Avoid workarounds and doing things by hand.
  • Additional Vendor Imports (T.Rowe, Standard Enterprise, Hancock Open Architecture, Voya Ease)
  • Employee Review includes Employment Summary that easily presents History to analyze rehired employees, plus the ability to calculate Eligibility, Vesting and Limited Compensation for a single employee
  • Functionality to handle complex plans, while using automation wizards to process your easier plans
 
 
 
4. ASC Client Support: Industry Professionals Partnering with You to Solve Your Challenges
Your ASC Support Team is comprised of only industry experts:
  • ASC Support Team designations include: QPA, QKA, APA, CPC, TGPC and more
  • 3 full time ERISA attorneys on staff
  • 3 full time actuaries
  • All ASC Support Team Members have retirement plan industry experience and most members of the team are credentialed.
 
 
 
5. Seamless Transitions to New Technology
  • Technology is always changing. However, as an ASC client you hardly notice those changes because our goal is to navigate these changes in a way that is as seamless as possible to you.
 
 
 
6. Same Day Access to Support and 24/7 Learning Tools
  • The ASC Support Team is sufficiently staffed to answer your questions within and usually in less than 5 hours.
  • We launched a brand new Learning Channel this year.
  • We expanded our FAQ videos.
  • We built up our online training via interactive Workshops.