Retirement plan notice administration is a significant challenge faced by plan sponsors. Tracking deadlines, delivery, and compliance with IRS and DOL regulations can quickly become a daunting administrative task. It is into this environment that TRA, in partnership with Plan Notice, comes in and revamps the process.
Easy Compliance through Automation
TRA’s Plan Notice service automates retirement plan administration with intelligence and technology. By automating the delivery and trackability of participant communications, Plan Notice ensures that every mandatory notice is issued, received, and recorded—without the tedium of doing it by hand.
Key features are:
- Automated Delivery & Tracking: Notifications are given via email, SMS, or mail, and the cargo is trackable with audit-ready documentations.
- Multilingual Video Summaries: Intricate notifications are converted into engaging, understandable videos, hence improving participant comprehension.
- New Hire Communication: New employees automatically receive compliant messages when they become eligible.
- Missing Participant Support: It facilitates the identification and contact of participants whose contact information is outdated or missing.
Why It Matters
Plan sponsors are subject to significant fiduciary risk should notices be missed or documented inadequately. TRA’s solution not just addresses that risk, but also:?
- Streamlines Administration
- Secures strict compliance
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- Increases participants’ interaction
- Ensures tranquility through the maintenance of audit-ready documentation.
Smarter Way to Ensure Compliance
Plan Notice extends beyond performance. It provides:
- Secure, searchable notice archives
- Indemnity from audit risk.
- Bilingual support and participant-focused outreach
- Full-service support from initial eligibility through termination
Regardless of the size of your business, the Plan Notice service and TRA will allow you always to focus on priorities without any hassle, knowing that the plan is always updated and effectively running.
Click here to learn how Plan Notice can transform your notice delivery process.
