The services described below are the most extensive of all retirement plan services. Accordingly, they are provided only to "full-service" plans (i.e., those that use Ohio National for all plan service administration.)
- Perform nondiscrimination and compliance testing.
- Time standard is to meet all testing provided Ohio National receives all necessary information in good order within 30 days following the plan year end.
- Perform annual valuation and prepare the appropriate Department of Labor (DOL) Form 5500 and schedules, and the appropriate IRS filings.
- Time standard is four weeks prior to DOL deadline (which is seven months after plan year end).
- Participant reports, including the Summary Annual Report and individual participant statements showing account balances and vesting information (part of these reports are included in the annual valuation).
For further information on Ohio National's full service administration services, please refer back to the discussion on administration found in Section IV.
