Once Jacobs and Lofgren have signed and returned the final application and plan document, their retirement plan will be effectively installed on the plan effective date stated in the signed plan document. Jacobs and Lofgren will also need to complete a client information sheet and transmit complete employee census data to Retirement Plan Services. Once this information is received, Retirement Plan Services will establish the plan and participant accounts and also prepare and forward contribution remittance information to them. And, because Jacobs and Lofgren have elected to use Ohio National's full service administration, Retirement Plan Services will also prepare and mail a master copy of the Summary Plan Description (SPD) and an Administration manual. Keep in mind that a copy of the SPD must be given to every plan participant.
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