Making the SIMPLE IRA even simpler

Step 1: Plan Setup

1. Employer completes and signs a Plan Establishment Guide (PEG)
   PEG includes everything needed to get the plan setup:
   • Aspire Agreement
   • Plan Sponsor Profile including selecting the plans Qualified Default Investment Alternative (QDIA)
   • Adoption Agreement
   • Beneficial Owner Certification
   • Plan Document
   • Salary Reduction Agreement
   • Participant Notice & Summary Plan Description
2. Advisor submits PEG to their broker/dealer for review and approval
3. Broker/dealer submits approved PEG to Aspire (if applicable)
4. Aspire sets up the plan and sends a welcome email to the sponsor along with login credentials and instructions to Aspire’s website.

Step 2: Participant Account Setup

1. Employees complete and sign a Salary Reduction Agreement (SRA).
2. The employer reviews the forms and countersigns each SRA. The employer retains the SRAs in each employee’s personnel file.
3. At plan setup, the employer provides Aspire with the initial census information needed to establish participant accounts. Aspire will create participant accounts for the initial enrollment population and send welcome emails with login credentials and website access instructions to employees who will be contributing to the plan.
4. After the initial plan setup is complete, the employer is responsible for enrolling all new participants and maintaining participant census information. Employers may add participants by either manually entering participant information through the Aspire website or by submitting participant information through the payroll file uploaded with contribution submissions.
5. For newly enrolled participants, Aspire will establish participant accounts and send welcome emails with login credentials and instructions for accessing the Aspire website.

_{For plans that have opted into the Automatic Enrollment process, employees who are eligible but have not enrolled in the plan will receive an email notifying them that they have 60 days to make an affirmative election regarding their participation in the plan (in or out). If they don’t, they will be auto enrolled at a percentage determined by the employer in PEG and put in QDIA.}

Step 3: Funding – Contributions and Rollovers

Contributions

1. Employer logs into sponsor portal and uploads file or manually enters amounts
2. Aspire pulls contribution total from bank account on file and trades individual amounts into accounts per employee-chosen allocations

_{Please note, if participants do not select investment elections, they will be defaulted into the Qualified Default Investment Alternative (QDIA).}

Rollovers

1. Employee completes and signs an Exchange/Transfer/Rollover Request form, along with a surrendering-account statement (and any necessary forms required by surrendering vendor)
2. Advisor sends all transfer documents to Aspire
3. Aspire sends an official request to the surrendering vendor with a Letter of Acceptance

Please note: Every transfer request must be accompanied by an IRA Disclosure that is signed by the participant and advisor. Transfers in-kind are NOT Permitted for IRAs.