ON-Trac II Table of Contents Florida Producers: Click here for an important notice. INTRODUCTION & NAVIGATION INSTRUCTIONS UNIT XXI: QUALIFIED RETIREMENT PLANS (Start Here) SECTION I: INTRODUCTION Page 1 — Introduction Page 1 — Learning Objectives Page 2 — An Established Need Page 5 — What Is a "Qualified" Retirement Plan? Page 8 — ERISA Page 9 — EGTRRA Page 10 — Types of Qualified Retirement Plans Page 11 — Overview of Defined Contribution Plans Page 12 — Overview of Defined Benefit Plans Page 14 — Section I Action Assignment SECTION II: TAX-FAVORED RETIREMENT PLANS Page 15 — Tax-Favored Retirement Plans Page 16 — Profit Sharing Plans Page 17 — 401(k) Plans Page 19 — Traditional 401(k) Plan Design Page 20 — Safe Harbor Plan Design Page 21 — Safe Harbor Requirements Page 22 — Safe Harbor Contribution Criteria Page 23 — SIMPLE 401(k) Plans Page 24 — Designated Roth Contributions to 401(k) Plans Page 26 — Allocating the Profit Sharing Contribution Page 27 — Age-Weighted Profit Sharing Plans Page 28 — Cross-Tested (New Comparability) Profit Sharing Plans Page 29 — Money Purchase Plan Page 30 — Target Benefit Plan Page 32 — Employee Stock-Option Plan (ESOP) Page 33 — 403(b) Plan Page 34 — Designated Roth Contributions to 403(b) Plan Page 35 — Government 457(b) Eligible Plan Page 36 — Defined Benefit Plans Page 36 — Traditional Defined Benefit Plans Page 37 — Fully Insured Defined Benefit Pension Plan Page 38 — IRA-Based Plans Page 38 — SEP IRA Page 39 — SIMPLE IRA Page 40 — Section II Action Assignment SECTION III: REQUIREMENTS OF DEFINED CONTRIBUTION PLANS Page 41 — Requirements of Defined Contribution Plans Page 42 — ERISA Page 43 — Code of Federal Regulation (CFR) Page 43 — United States Code (USC) Page 44 — Internal Revenue Code (IRC) Page 45 — Eligibility & Participation Page 46 — Classification Page 47 — Service Requirement Page 47 — Age Requirements Page 48 — Annual Compliance Testing Page 50 — Coverage Testing Page 51 — Nondiscrimination Testing Page 53 — Current Year Testing Method Page 53 — Prior Year Testing Method Page 54 — Top-Heavy Rules Page 55 — Consequences of Annual Compliance Testing Failure Page 56 — Solutions for Nondiscrimination Testing Page 57 — Safe Harbor 401(k) Page 58 — SIMPLE 401(k) Page 59 — Vesting Schedules Page 61 — Contribution Limits Page 62 — Rollovers Page 64 — Other Considerations Page 65 — Payment Options from Retirement Plans Page 65 — Form of Payments Page 66 — Taxation Page 67 — Required Minimum Distributions Page 68 — Section III Action Assignment SECTION IV: OHIO NATIONAL PRODUCTS & SERVICES Page 69 — Ohio National Products & Services Page 70 — The Ohio National Advantage Page 71 — ONCore Advantage Page 72 — Portfolio Advantage Page 73 — Plan Design Page 75 — Plan Administration Page 77 — Full Service Cases Page 79 — Investment Elections Page 80 — Selecting Individual Portfolio Options Page 82 — Information Resources Page 82 — Portfolio Options by Category Page 83 — Portfolio Guide Page 84 — Portfolio Profiles Page 85 — LIVESTRONG™ Portfolios Page 86 — Investment Election Forms Page 87 — Comprehensive Sales Support Page 88 — Education Resources Page 89 — Retirement Plan Services Page 90 — Commission Options Page 91 — Section IV Action Assignment SECTION V: SELLING A QUALIFIED RETIREMENT PLAN Page 92 — When Is a Business Ready for a Qualified Plan? Page 93 — Educating the businessowner Page 94 — Niche Market Page 95 — Owner-Only Businesses Page 96 — Maximize Effort through Market Segment Specialization Page 97 — Explaining Why Employers Should Sponsor Qualified Plans Page 98 — Benefits to the Employer Page 100 — Benefits to the Employee Page 101 — Identifying Businessowners with Retirement Plan Needs Page 102 — Working Together Page 102 — A Team Approach Page 103 — Gathering Information from the Plan Sponsor Page 105 — The Pre-Sale Page 105 — Presenting the Proposal Page 106 — Section V Action Assignment SECTION VI: PLAN INSTALLATION & ENROLLMENT Page 107 — Plan Installation Page 107 — Installation Duties Page 109 — Installing Advantage Series Contracts Page 110 — ONCore Advantage Page 110 — Retirement Advantage Page 111 — Portfolio Advantage Page 112 — Enrollment Meeting Page 112 — Plan Enrollment Page 113 — Subjects to Cover During Enrollment Meeting Page 114 — Tools for Enrollment Page 115 — Forms that Plan Participants Need to Complete Page 116 — Retirement Guide for Rollovers Page 117 — ONretirement.com Page 117 — Section VI Action Assignment SECTION VII: SERVICE AFTER THE INSTALLATION Page 118 — Plan Trustee Responsibilities Page 120 — Fiduciary Responsibilities Page 122 — Investment Policy Statement Page 124 — Ohio National / Service Administrator Responsibilities Page 126 — Financial Professional Responsibilities Page 126 — Ongoing Page 127 — Annual Duties Page 128 — Participant Responsibilities Page 131 — ONretirement.com Page 133 — Putting It All Together Page 134 — Section VII Action Assignment SECTION VIII: CASE STUDY Page 135 — Case Study Page 137 — Jacobs and Lofgren, LLC, Attorneys-at-Law Page 140 — Lesson Activity #1: Preparing for the Case Page 142 — Lesson Activity #2: Submitting the Request for Proposal Page 145 — Lesson Activity #3: Suitable Plan Options Page 147 — The Proposal Page 149 — Lesson Activity #4: The Proposal Page 156 — The Sale Page 159 — Plan Document Page 160 — Lesson Activity #5: The Plan Document Page 161 — Contract & Final Application Page 162 — Lesson Activity #6: Qualified Retirement Plans Sales Process Review Page 164 — Enrollment Page 167 — Wrap-Up Page 168 — Conclusion Page 170 — Section VIII Action Assignment CERTIFICATES OF COMPLETION, CE CREDITS & CE MAP EXAM REQUEST * AFFIDAVIT OF PERSONAL RESPONSIBILITY ** * When you complete the course, fill out and submit the exam request form at the end of the chapter. In response, you will receive a link to the final exam. Submit your answers and they will be scored. If you pass the exam with a score of at least 70 percent, you will have successfully passed the course. If you do not pass the review, you will be requested to take another exam. ** Florida requires that all self-study exams be monitored by a disinterested third party. Be sure to fill out the Affidavit of Responsibility correctly and send it in with your CE exam. This course is accessible online 24 hours a day, 7 days a week. Student information will not be sold or distributed to any third party without prior written consent of the student. Registering and/or taking the course shall not constitute consent. Back to Top | Next Ohio National is not affiliated with, nor does it endorse or sponsor any particular prospecting, marketing or selling system.