Plan Installation Service
Annual Administration Service
Reporting and Disclosure
Trust Accounting: The Employer and/or Plan Administrator furnishes Peregrine Pensions with all information required to perform the Trust Accounting, including bank and brokerage statements, amortization schedules, etc. Peregrine Pensions will rely on information provided by the Employer, the Plan Administrator or its agents or any Trustee of the Plan as to the values of non-marketable securities, partnerships, etc. All reports, forms and services provided by Peregrine Pensions are based upon such information. Trust accounting is provided for and included in the fee for a Plan's Annual Administration Service for up to four hours accounting time. Additional time is billed at an hourly rate.
Participant Accounts: The Participant charge is assessed annually for each participant for one account of the participant. A charge for each additional account shall be made as set forth in the Fee Schedule. Participant charges in accordance with the Fee Schedule are assessed for Employees who are current Plan participants, former participants who terminated during the past year, any other former participants who still have an account in which there is activity during the year, and Employees who enter and so become participants at the current valuation date.
Participant Terminations: A fee is assessed to remove terminated participants from the administrative report and prepare distribution information. Peregrine Pensions will provide the Plan Administrator with the terminated participant's vested accrued benefit, a termination statement, the distribution amount, payment directives, and IRS Form 1099R information.
Hourly Rate Services
Plan Takeover Service: Plan takeover involves integrating an existing plan and its specifications with the Peregrine Pensions system. This includes the transfer of data from the former administration company and communication with the Plan Administrator regarding policies and procedures.
Plan Termination Service: Terminations include notices of plan termination for the Plan participants, accrued benefit calculations, analysis of asset sufficiency, and participant benefit distribution election forms. If filing with the appropriate governmental agencies, Peregrine Pensions will prepare IRS and/or PBGC filing forms and attachments and handle inquiries from the IRS and/or PBGC in order to secure a favorable Determination Letter upon plan termination and a Letter of Determination of Sufficiency of Assets.
Plan Amendment Service: The Employer may from time to time wish to amend a portion or portions of the Plan. Similarly, government regulations and changes in the law may require Plan Amendments. Peregrine Pensions will draft Plan Amendments, as requested, for the review of the Employer's attorney in order to change the Plan as desired and/or comply with the law.
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