IN THIS ISSUE - FOURTH QUARTER 2011
Relius Administration Update: New Mobile Tools
SunGard's Solution to help you with the new ERISA 404(a)(5) Fee Disclosure Rules
SunGard's Relius Government Forms Web Client On Demand
Relius Documents: What's New and What's Coming?
Relius Education: Events
Keeping in Touch with Relius
With the widespread adoption of smart phones and tablets by many consumers today, it is becoming more common to communicate electronically rather than through traditional methods. Not only is this evident by the growing number of social media platforms, but also by the number of consumers wanting new and easily accessible methods of accessing and sharing confidential financial information.
Does your company have a mobile strategy? With the release of Relius Administration version 17.0, SunGard offers an enhancement to the participant web functionality. This means that participants who use mobile devices can now access more information about their retirement account.
Via a mobile device browser, participants can access their accounts with regard to the following functions:
- Request a forgotten UserID and/or password.
- View Benefit Summary Information – participants in more than one plan see a summary page which lists summarized information by plan.
- View Plan Summary Information – selection of a specific plan displays total account balance, vested balance, status and service, as well as an overview of plan contributions and recent transactions.
- View Plan Balances – detailed listing of account balance by source and investment.
- View Transactions – ability to view transactions using a 30-, 60-, and 90-day filter.
Relius mobile supports site customization via a mobile Cascading Style Sheet (CSS), as well as the ability to manage logo display and field labeling via mobile custom text elements.
If you are interested in learning more about this new offering, stay tuned for an email announcing specific dates and times of an upcoming webinar to demonstrate the new functionality. If you have any questions in the meantime, contact the sales department at 1-800-326-7235, option 6.
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SunGard's Relius is pleased to offer an integrated and cost effective solution to help customers comply with the required ERISA 404(a)(5) Fee Disclosure rules. By utilizing existing Relius Administration software, customers can provide not only the Annual Comparative Chart, but also the necessary mutual fund expense information reporting that must be displayed on a quarterly basis for participants via a website.
The solution provides the following functionality:
- Annual Fee Disclosure report run via the Relius Administration recordkeeping system.
- All mutual fund performance and benchmarking data from Morningstar can be included on quarterly participant statements.
- Customized fund data, where the data is not reported to Morningstar, can pull from the Relius system.
- Model information that is stored in the Relius system can be pulled from the Relius system.
- Option to print or publish reports to the plan or participant websites or send reports directly to the participant or plan sponsor via email.
- Quick link to display the plan investments with all expense information related to each investment.
- Ability to run reports on an as-needed basis (at no additional cost) so that the latest mutual fund data or plan investment changes may be reported to participants.
- Morningstar data is pulled via Web services at the time reports are run, and not stored in the Relius database.
The mandatory fee disclosure requirements affect just about everyone in the retirement plan industry. Customers need an integrated solution that they can quickly and easily access. With SunGard's solution, there is no need to upload software or attend training demos, you simply need to know how to run a report.
Deadlines are quickly approaching. For more information about SunGard's solution, fill out this form and someone from SunGard will contact you.
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Last year SunGard introduced Web Client on Demand, a new solution to order plan books for Relius Government Forms 5500 Web Client.
Web Client On Demand is the result of feedback from customers who wanted an easier way to manage their 5500 filing needs. This new solution offers a quick and convenient way to purchase plan books and additional flexibility in planning for the 5500 filing season.
If you have renewed your Relius Government Forms Desktop 5500 version 2012 license, you should have the ability to purchase plan books for the 2011 plan year. If you have not purchased your plan books yet, you can get started by going to www.relius.net, select the “Web Client on Demand” button under Current News on the right sidebar menu, and purchase as many plan books as needed.
Unlike in years past, there is no minimum requirement. You can purchase as many plan books as you need, when you need them, including prior years.*
We have put together a Frequently Asked Questions document, available at www.relius.net/products/pdf/WebClientOnDemandFAQs.pdf, to help answer questions you may have about Web Client On Demand.
If you have questions or cannot access the Web Client On Demand page, contact Client Account Services at 800.326.7235, option 6.
*Plan books are purchased for a specific plan year and cannot be rolled over from plan year to plan year.
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We are pleased to announce two new developments regarding the next cycle of defined contribution plan restatements (Relius PPA restatements) – new deadline and new plan options.
New Deadline: IRS Extends Submission Deadline
The IRS extended the deadline for the submission of your pre-approved defined contribution plans from January 31, 2012 to April 2, 2012. This means you have additional time to decide which pre-approved plans you would like to offer for PPA restatements. Keep in mind this is the submission for the pre-approved plan itself; employer restatements do not actually begin until these new plans are approved, which likely will be in early 2014.
New Plan Document Options: Governmental Plans and Multiple Employer Plans (MEPs)
SunGard is offering two new plans – a governmental volume submitter plan and a prototype multiple employer plan (MEP) -- with the following features:
Governmental Volume Submitter Plan
- Formatted as a prototype with one basic plan document and two adoption agreements – profit sharing and money purchase.
- Does not include ERISA provisions, but includes options such as matching after-tax employee contributions or IRC 457 deferrals and IRC 414(h) pick-up contributions.
- If you do not want to purchase a license to sponsor this plan, we offer plans that may be ordered individually (i.e., on demand) for a specific employer. These have the format of a basic plan document and an adoption agreement that includes only the options selected for a specific employer.
Multiple Employer Plan (MEP)
- Designed to accommodate “open” MEPs where there is no commonality or control among the various adopting employers.
- The MEP 401(k) prototype has a MEP sponsor which is assigned various duties under the plan, even though that sponsor is not an adopting employer (i.e., the MEP sponsor offers the plan and provides services, but does not have any employees covered under the plan).
- One employer is the primary employer assigned the applicable duties and other entities may adopt the plan. For the MEP where employers are somewhat related (e.g., there is common ownership but not enough to be a controlled group), our regular prototype and volume submitter plans may be used.
What You Need To Do:
While the submission deadline seems far away, February and March are typically busy times, so we encourage you to plan ahead. If you do not use Relius pre-approved plans and would like to know more about them, or want to purchase the new Governmental or MEP documents, contact the sales department at 800.326.7235, option 5.
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Plan Now for 2012 Relius Education Workshops and Web Seminars
Stay up-to-date on new rules and regulations and earn 6 -7 hours per day of continuing education credit.
- April – May.
- Form 5500 / EFAST Workshop.
- 401(k) Plan Workshop – Current Developments.
Other Worshops in 2012
- Fundamentals of 401(k) and Other Qualified Plans, June – July.
- Specialty Topic Workshops, August – September.
- Advanced Pension Conference, Chicago – September 5-7.
- Just for ERPAs – conveniently scheduled in Chicago the day before the APC.
- 401(k) Plans: Beyond the Basics, September – October.
- ERISA Workshop, October - December.
For more information, email firstname.lastname@example.org, or visit our web site: www.relius.net.
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Keeping in Touch with Relius
If your email address has changed or if personnel has changed in your company recently, log in today at www.relius.net/Login/Login.aspx to review and update your Relius account profiles. Make sure to check both your personal profile and your company’s profile to help assure that all contact information and other data are up to date.
Are you getting timely updates from SunGard? Relius has several subscription lists that you can join, all of which are free. Online newsletters, Pension Technical Updates, seminars and conferences, and software release notifications are just a few of the current subscriptions options. It is simple and fast. Go to www.relius.net/Login/LoginNews.aspx and sign up today.
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