ADDITIONAL DETAIL ON STEPS FOR ENROLLMENT

The following information will help answer questions regarding the New Employer Checklist as it provides additional explanation regarding each enrollment document. 

Statement of Qualification: 

This form must be completed by a legal officer of your organization. Anyone on your governing board authorized to sign for such matters is appropriate. If your organization is not affiliated with the Church of God (Anderson, IN) then documentation evidencing “shared common religious bonds and convictions with Servant Solutions” as well as your organization’s IRS determination letter for 501(c)(3) status must also be submitted. Information on your website, from your bylaws, or any other printed documentation that explains your organization’s beliefs is sufficient for evidencing “shared common religious bonds and convictions with Servant Solutions.”

If your organization is a church and you do not have a determination letter from the IRS, please complete page 3 of the Statement of Qualifications form. Please return the form to Servant Solutions through our Secure Document Upload, or email or U.S. mail.

Plan Document and Employer Eligibility & Participation Schedule: 

The legal Plan Document must be adopted by all employers who participate in the Servant Solutions Retirement Plan. The Plan Document suggests that each employer contribute 11% of each employee’s compensation to the Servant Solutions Retirement Plan, but ultimately that decision is left up to each individual employer. The Eligibility & Participation Schedule is a supplement to the Plan Document that defines exactly how your organization will participate in the Servant Solutions Retirement Plan. You may choose to follow the Plan Document’s suggestion (an 11% employer contribution) or make a different decision based on your organization’s strategies and budget. This form serves as a template for your organization to create its own “policy statement” and will define compensation, describe who is eligible to contribute, and if the organization will also contribute on behalf of its employees. It is our recommendation to allow all full-time employees, as well as all part-time employees working at least 20 hrs/week to participate in the retirement plan. 

The following is an example of what your organization’s governing board may approve:
Section 1 – Define Compensation (check the first box) 

Section 2 – Determine that “All Employees will be eligible” to make contributions.

Section 3 – Determine that “All Employees will be eligible” to receive employer contributions and then select a “Non-matching Contribution of a fixed percentage equal to 11% of the employee’s compensation.”

Your organization must comply with this document. You cannot make exceptions or deviate from the established policy until your board votes to do so. This document would be provided to the IRS if your organization is audited. Servant Solutions does not need a copy of this document and will not verify compliance.

Membership Application and Designation of Beneficiary:

All portions must be completed and signed by each employee establishing an account with Servant Solutions. Page 2 is an investment election form; it establishes how a member’s contributions will be invested in the market. Page 3 provides additional information on the LifeFunds (age-based target date funds). If employees have questions about how to invest, please direct them to contact Servant Solutions.Page 4 is the Designation of Beneficiary form which must be completed to name a contingent beneficiary for each member. The Plan Document establishes the member’s spouse as the automatic primary beneficiary for all accounts. If a member is not survived by a spouse (i.e. if never married, divorced, or if a spouse passes first or passes simultaneously with the member), the contingent beneficiary form will direct Servant Solutions on how to distribute the member’s account balance. Please submit a Member Application/Beneficiary form for all employees included in the organization’s first contribution (if they have not already been submitted). 

Salary Reduction Agreement:

This form is an agreement between your organization and an employee. Use this form to record the set dollar amount or percentage the employee desires to withhold from his/her salary to contribute to his/her retirement account on a Before-Tax basis (Type A – Participant Before-Tax Contribution). Employees can start, adjust, or stop contributions at any time by simply completing a new Salary Reduction Agreement. The employer must remit employee contributions to Servant Solutions on a timely basis. The Plan Document states that employee contributions will be submitted to Servant Solutions within 15 business days following the end of the month in which the amount would otherwise have been paid to the employee. This original agreement and any succeeding agreements are to be kept on file at your organization and do not need to be returned to Servant Solutions. 

Submitting ContributionS:

You may submit contributions through U.S. mail or enroll in the Servant Solutions Online Remittance System.

Follow these directions to establish an Online Remittance Account:

1. Go to www.servantsolutions.org Click on link titled ‘Remit Online’ in the upper right-hand corner.

2. Click on ‘Establish a Remitting Account’ in the upper right-hand corner.

3. Follow directions listed and complete the PDF document.

If instead you choose to send a check via U.S. mail, include either a Remittance Form for one employee OR the Schedule Template if you are submitting for multiple employees. A signed check, payable to Servant Solutions for the grand total of all contributions, can be mailed to: Servant Solutions, PO Box 2559, Anderson, IN 46018. If only one employee contributes, use a Remittance Form (the contribution amount should be written on the appropriate blank). If multiple employees are contributing, use the Schedule Template. A Remittance Form or a Schedule Template must be included with each mailed contribution check. Send in one check for the grand total of all contributions being remitted.

The following questions will help you select the correct Contribution Type:

• Is the contribution Pre-Tax (Type D or A) or Post-Tax (Type G)?

• Who’s making decisions about how much to contribute?

If the employer makes the decision – Type D (Church/Employer Contribution)

If the employee makes the decision and completes a Salary Reduction Agreement – Type A 

ADDITIONAL INFORMATION: If your organization is not a church (i.e. university, college, non-profit organization), you have additional 403(b) requirements. For example, you must comply with the Universal Availability rules. You also must comply with annual plan testing and reporting requirements. If this applies to your organization, please contact our office. We can provide you with the additional information you need to comply with the 403(b) regulations. If your organization offers multiple 403(b) plans and/or vendors, you are responsible for complying with additional IRS 403(b) regulations. By offering more than one 403(b) plan, your responsibilities increase significantly. We strongly recommend that you consult with an attorney with church plan experience to ensure that you are meeting your fiduciary responsibilities and are in compliance with IRS regulations. Satisfying the legal requirements of a new retirement plan can be overwhelming. Please let us know if you have any questions. Our Operations Team is standing by and ready to help!
info@servantsolutions.org or 800-844-8983. Fax Line: (765) 642-3942