ON-Trac II Table of Contents IMPORTANT NOTICE (FL, KS & OK Producers Only): Please be sure to take the state-specific version of this program, as indicated in the ON-Trac II Table of Contents. IMPORTANT NOTICE (MN Producers Only): After July 1, 2010, CE will no longer be available to Minnesota producers for any Ohio National self-study units. Virginia Producers: Click here for important, required information. 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 — 412(i) Defined Benefit 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: INTRODUCING CLIENTS TO QUALIFIED RETIREMENT PLANS 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 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 116 — 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 * STUDENT EVALUATION ** 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. ** Applicable Only to the State of Ohio. *** Applicable only to designated states. Check with your home state to see if the affidavit is required. If it is, be sure to fill it out correctly and send it in with your CE exam. This course is accessible online 24 hours a day, 7 days a week. It is approved for continuing education in the State of Ohio. 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.