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Plan Installation & Enrollment

For this lesson, you are given an opportunity to become better acquainted with the sales, marketing, and administration resources available to help you through the plan design and installation process.

  1. A type of retirement plan document that has been reviewed by the IRS to expedite the qualified plan approval process is called a(n):

    1. Universal Plan Document
      2.
    2. Custom Plan Document
      3.
    3. Certified Plan Document
      4.
    4. Prototype Plan Document

  2. Review the brochure Qualified Retirement Plans Sales Process and Time Standards (Form 3621), then answer the following questions:

    1. According to the brochure, what are the four basic phases of the qualified retirement plan sales process?

    2. What is the standard time frame for the proposal specialist to prepare a proposal after obtaining plan data?

    3. DOL Form 5500 is prepared as part of which phase in the qualified retirement plan sales process?

  3. Review the brochure Request for Proposal (Form 3202), then answer the following questions:

    1. Why is it important to know the type of business entity (e.g., sole proprietorship or S-Corporation) in preparing a qualified retirement plans proposal?

    2. Why is it necessary to provide Retirement Plan Services with census information if requesting contribution illustrations in the proposal?

    3. Briefly explain the basic difference between a "four percent contract" and a "one percent contract."

    4. If requesting a Profit Sharing Plan, how would you briefly explain the difference between an Age-Weighted Plan and a New Comparability Plan?

Please print this Action Assignment using the "Printer Friendly" button at the top of this page. Once it is complete, sign it and submit it to your General Agent for his or her signature. Give one signed copy to the General Agent and fax/send another copy to Field Development Operations at the corporate headquarters — (513) 794-4515.

Unit XXI: Qualified Retirement Plans
Section VI Action Assignment Satisfactorily Completed

DATE: __________

 SIGN OFF
General Agent/Trainer:
Sales Associate:
Firm (Print):


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Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.

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