Plan Administrator, Fiduciary & Recordkeeper
Services to AutoMEP Plans
In order to provide services to plans, AMI Benefit Plan Administrators, Inc. (AMI) utilizes multi-disciplinary client service teams that have many years experience and minimal turnover. AMI has extensive experience with the IRS, DOL, ERISA legal firms and our service partners, including financial service firms, broker dealers, mutual fund companies, software firms, TPA firms and others.
In today’s ever-changing economic environment choosing a financial partner that is stable, experienced and accountable is more important than ever.
About AMI Benefit Plan Administrators, Inc.
AMI entered the insurance industry in 1979 and working mostly with small business owners that expressed a need for assistance with setting up their benefit plans. By 1994, we founded AMI Benefit Plan Administrators, Inc. (AMI) as a separate company from the insurance agency. AMI specializes in Fiduciary Plan Administration services as well as providing Fiduciary and record keeping services to retirement plans
AMI's employees undergo extensive training and hold many industry designations. The firm employs a full-time internal technology staff and supports the business with continuously monitored custom software. AMI's interactive approach to client service, combined with technical quality, has led to a high client retention record. The leadership of the management is reflected in a business model built on client service teams supported by quality standards. Along with our custom software we employ educated staff members that have obtained many industry accreditations who understand that as a Fiduciary, we put the interest of the plan and its participants first.
AMI's commitment to providing excellent customer service, our constantly evolving technology and our staff has permitted us to grow into an organization that is dedicated to providing Fiduciary, record keeping and compliance services for employers across the United States.
AMI serves as the Pooled Plan Provider and Plan Administrator to the AutoMEP.
AMI specializes in Fiduciary Plan Administration services as well as providing Fiduciary and record keeping services to retirement plans.
Fiduciary Plan Administration services include (but are not limited to) the following:
- Certifying all distributions, including terminations, and in-service distributions.
- AMI is also responsible for obtaining all of the documentation to certify hardship distributions.
Once certified, AMI will issue signature-ready paperwork to the participant, including the appropriate IRS tax notices.
- Certifying all loans.
AMI will determine if the participant meets all of the regulatory requirements and issue signature-ready paperwork via mail or email.
- Reviewing and qualifying Domestic Relations Orders.
- Keeping track of contribution timing and notifying the employer if there are potential late deposits.
- Live answer customer service to provide education to the participants regarding their service options, as well as the ability for participants to issue their requests via a website.
- In general, AMI's fiduciary services mean that AMI has responsibility for keeping the plan in compliance with regard to the day to day operations of the plan.
Fiduciary Record Keeping Services include the following:
- Processing plan deposits (contributions, loan payments, rollovers, etc.)
- Plan withdrawals (distributions, loans, ect.)
- Balancing fund positions
- Quarterly reporting
- Updating fund pricing and processing transactions entered via the Internet or App
- Determining eligibility
3(16) Fiduciary Services
About Rehmann Retirement Solutions
Since 1941, Rehmann has provided one-on-one financial services to small businesses and middle-market companies throughout Michigan and beyond. What began in 1941 as a single Saginaw-based accounting firm has evolved into a synergistic collection of business services with a common mission: to deliver valued, comprehensive solutions through "The Rehmann Experience." Rehmann has grown to become one of the largest CPA, business consulting and financial advising firms in the country, with 800 associates in 19 offices located in Michigan, Ohio and Florida.
At Rehmann, we believe the experience you have working with us is as important as the services we deliver. Each day our goal is to help you get the most out of your Rehmann Experience. Simply put, we want to exceed your expectations. We believe that your long-term success depends on working with people who care as much about your future as you do. That's why we provide a cross-functional team - customized to meet your needs. A team made up of people from different areas of specialization focused on what you need today as well as in the future. We connect you directly with the right talent at the right time.
Rehmann Retirement Solutions is providing 3(16) Administrative services to the AutoMEP Open Multiple Employer 401(k) Plan and, as such, signs and files all of the Form 5500 returns. In addition, Rehmann serves as your primary consultant in the design and drafting of your plan.
Fiduciary Compliance Services include the following:
- Performing non-discrimination testing
- Calculating employer contributions (match, discretionary, safe harbor, etc.)
- Plan Document, Summary Plan Description, Board Minutes and Amendments
- Preparing Form 5500 and 8955-SSA
- Signing and electronically filing the Form 5500 and 8955-SSA
3(38) Fiduciary Investment Services
About Rehmann Capital Advisory Group, LLC
Rehmann Capital Advisory Group, LLC is a national Registered Investment Advisor. Rehmann Financial is the wealth advisory team of Rehmann – one of the country’s leading CPA firms – and serves as an ERISA 3(38) investment manager for plans and participants. Under this capacity, Rehmann Financial has full discretionary powers for selecting and monitoring investment options offered through AutoMEP as a whole. Rehmann Financial undertakes the highest level of fiduciary oversight and relieves plan sponsors of the liability associated with the selection and monitoring of investment choices.
Rehmann Capital Advisory Group, LLC serves as the Investment Manager to the AutoMEP Open Multiple Employer 401(k) Plan, in its capacity as the 3(38) Fiduciary. Rehmann has full discretionary powers for selecting and monitoring investment options made available to the Plan.
Rehmann Capital Advisory Group, LLC chooses to focus on low net cost investment products that include retirement class Mutual Funds (MFs), Collective Investment Funds (CIFs, Collective Investment Trusts (CITs), and Exchange Traded Funds (ETFs).
Securities offered through Rehmann Financial Network, LLC, member FINRA/SIPC. Investment advisory services offered through Rehmann Financial, a Registered Investment Advisor. 39300 W 12 Mile Road, Suite 100, Farmington Hills, MI 48331 | (248) 579-1163
About Alta Trust
Alta Trust is a full service trust company licensed and located in the State of South Dakota which offers trust clients and financial advisors a flexible trustee available to serve in multiple capacities based on the needs of the client. Serving the 401k market since 1987, the team of professionals at Alta Trust has over 100 years of combined experience.
Alta Trust is providing directed trustee service to the AutoMEP Open Multiple Employer 401(k) Plan.