Pacific Administrators Knowledge Adventure Pension Plan Presented by Pacific Administrators Urs...

Pacific AdministratorsPacific Administrators

Knowledge Knowledge Adventure Pension Adventure Pension PlanPlanPresented by Pacific AdministratorsPresented by Pacific Administrators

Urs Kaelin – Pension DivisionUrs Kaelin – Pension Division


It’s never too late…or too It’s never too late…or too earlyearly

Participating in your company sponsored Participating in your company sponsored pension plan is an excellent way to save pension plan is an excellent way to save money for your retirement.money for your retirement.

You decide how much you want to contribute You decide how much you want to contribute towards retirement. towards retirement.

Contributions are automatically withheld from Contributions are automatically withheld from your gross pay and deposited into your own your gross pay and deposited into your own Personal Choice Retirement Account (PCRA) Personal Choice Retirement Account (PCRA) at Charles Schwab.at Charles Schwab.


Charles Schwab Charles Schwab Personal Choice Retirement Personal Choice Retirement Account (PCRA)Account (PCRA)

PCRA is a self directed brokerage PCRA is a self directed brokerage account that allows you to invest your account that allows you to invest your plan contributions into a greatly plan contributions into a greatly expanded range of investment choices.expanded range of investment choices.

PCRA’s are part of your company PCRA’s are part of your company sponsored retirement plan. sponsored retirement plan. You can not You can not make deposits or withdraw money make deposits or withdraw money directly, to or from your PCRA. directly, to or from your PCRA.


Expanded Investment Expanded Investment ChoicesChoices

Through Schwab’s PCRA, you have Through Schwab’s PCRA, you have access to more than 2,500 mutual funds, access to more than 2,500 mutual funds, including:including:

1200+ mutual funds with no-load and no 1200+ mutual funds with no-load and no transaction fees; andtransaction fees; and

500+ load-waived fund shares typically 500+ load-waived fund shares typically only available to institutional clients.only available to institutional clients.


Enrolling in the Pension Enrolling in the Pension Plan…………….Plan…………….

Included in the enrollment packet are the Included in the enrollment packet are the following:following: Enrollment Instructions;Enrollment Instructions; Plan Enrollment & Salary Reduction Form;Plan Enrollment & Salary Reduction Form; PCRA Limited Power of Attorney (LPOA);PCRA Limited Power of Attorney (LPOA); Direct Investment Disclosure Form; andDirect Investment Disclosure Form; and Standard Investment Election FormStandard Investment Election Form


The Schwab AdvantageThe Schwab Advantage

You can choose from over 20 in-person and You can choose from over 20 in-person and online seminars covering current investment online seminars covering current investment topics such as “Navigating Today’s market” topics such as “Navigating Today’s market” and “Building a Diversified Portfolio.” and “Building a Diversified Portfolio.”

You can meet with a Schwab Investment You can meet with a Schwab Investment Consultant, who can answer questions and Consultant, who can answer questions and help with your investment needs. help with your investment needs.

Or you can take advantage of powerful Or you can take advantage of powerful research tools at: schwab.comresearch tools at: schwab.com


Completing the Completing the PaperworkPaperwork

Before you can participate, you must Before you can participate, you must complete the following documents: complete the following documents:

1.1. PCRA Limited Power of Attorney;PCRA Limited Power of Attorney;

2.2. Enrollment & Salary Election Form;Enrollment & Salary Election Form;

3.3. Direct Investment Disclosure; and if Direct Investment Disclosure; and if applicableapplicable

4.4. Standard Investment Election Form.Standard Investment Election Form.


Do It Yourself – Choosing Do It Yourself – Choosing where to allocate the where to allocate the contributions…contributions…

1)1) Once your PCRA has been established, Charles Once your PCRA has been established, Charles Schwab will mail to you a Welcome Kit.Schwab will mail to you a Welcome Kit.

2)2) The Kit will include your account number as well The Kit will include your account number as well as Instructions on how to access your account as Instructions on how to access your account and how to place your own trades. It also and how to place your own trades. It also provides additional information on the life cycle provides additional information on the life cycle of a PCRA and whom to contact with questions. of a PCRA and whom to contact with questions.

3)3) You’ll have 24/7 access to your account You’ll have 24/7 access to your account information on information on www.schwab.comwww.schwab.com or you may call or you may call 888/393-7272888/393-7272


Authorize the TPA to Authorize the TPA to place your Trades……..place your Trades……..

1)1) If you decide to have a standing order If you decide to have a standing order appointing the TPA to place your trades for appointing the TPA to place your trades for you, complete the Standard Investment you, complete the Standard Investment Election Form;Election Form;

2)2) Select each funds based on a percentage of Select each funds based on a percentage of your contribution, total must add up to 100%; your contribution, total must add up to 100%;

3)3) You’ll have 24/7 access to your account info at: You’ll have 24/7 access to your account info at: www.schwab.comwww.schwab.com


Plan Details – Salary Plan Details – Salary Deferral Contributions and Deferral Contributions and EligibilityEligibility

Employees hired before December 31, 2004 are Employees hired before December 31, 2004 are automatically eligible.automatically eligible.

New Hires are eligible to participate in the Salary New Hires are eligible to participate in the Salary Deferral portion of the Plan on the 1st. of the month Deferral portion of the Plan on the 1st. of the month following the Date of Hire and are 21 years of age. following the Date of Hire and are 21 years of age. Employees may enter the Plan Quarterly, on January Employees may enter the Plan Quarterly, on January 1st. April 1st. July 1st. or October 1st.1st. April 1st. July 1st. or October 1st.

For 2005, participants may contribute up to an annual For 2005, participants may contribute up to an annual maximum amount of $14,000.00.maximum amount of $14,000.00.

In addition, participants over the age of fifty (50), can In addition, participants over the age of fifty (50), can contribute an additional $4,000.00.contribute an additional $4,000.00.


Employer Matching Employer Matching Contributions and EligibilityContributions and Eligibility

Employees hired before December 31, 2004 are Employees hired before December 31, 2004 are automatically eligible.automatically eligible.

New Hires will be eligible, if they are 21 years of age New Hires will be eligible, if they are 21 years of age and have completed 1 Year of service. Eligible and have completed 1 Year of service. Eligible employees may enter the Plan quarterly: January 1employees may enter the Plan quarterly: January 1stst. . April 1April 1stst. July 1. July 1stst. & October 1. & October 1stst..

Matching contributions are discretionary and Matching contributions are discretionary and determined each year by the Board of Directors.determined each year by the Board of Directors.

For the 2005 Plan Year, matching contribution equal For the 2005 Plan Year, matching contribution equal 25% of the employees deferral, up to a maximum of 25% of the employees deferral, up to a maximum of the first 6% of salary.the first 6% of salary.


Important Plan DetailsImportant Plan Details

The Anniversary and Valuation Date is The Anniversary and Valuation Date is December 31, the last day of the Plan Year;December 31, the last day of the Plan Year;

The Plan benefits all Employees, except for The Plan benefits all Employees, except for members of a collective bargaining unit and members of a collective bargaining unit and non-resident aliens;non-resident aliens;

Employer contributions shall be vesting at 20% Employer contributions shall be vesting at 20% after the first year of service; andafter the first year of service; and

Regular Retirement Age 65 – Early Retirement Regular Retirement Age 65 – Early Retirement Age 59.5 and 5 Years of Service. Age 59.5 and 5 Years of Service.


More Details - More Details - DistributionsDistributions

Plan distributions are made in Lump Sums. Plan distributions are made in Lump Sums.

Distributions to Participants who resign or are Distributions to Participants who resign or are discharged prior to retirement are made at the discharged prior to retirement are made at the Participant's election within a reasonable period Participant's election within a reasonable period following the Distribution Date. following the Distribution Date.

Participants who have terminated employment and Participants who have terminated employment and have an account balance of $5,000 or less may be paid have an account balance of $5,000 or less may be paid out without their consent. out without their consent.

Hardship Distributions are available for qualifying Hardship Distributions are available for qualifying events.events.


More Details - LoansMore Details - Loans

Participants may borrow up to 50% of their vested Participants may borrow up to 50% of their vested account balance, minimum loan amount $1000;account balance, minimum loan amount $1000;

Only two loans can be outstanding at any given time;Only two loans can be outstanding at any given time;

Loan payments are through payroll deductions;Loan payments are through payroll deductions;

Maximum term for general loans is 5 years;Maximum term for general loans is 5 years;

Maximum term for the purchase of a personal Maximum term for the purchase of a personal residence is 10 years;residence is 10 years;

The minimum loan fee is $100* and interest rates are The minimum loan fee is $100* and interest rates are determined at the time that the loan is requested to be determined at the time that the loan is requested to be processed. processed.


Your Third Party Your Third Party Administrator (TPA) Info..Administrator (TPA) Info..

PACIFIC ADMINISTRATORSPACIFIC ADMINISTRATORS

6180 QUAIL VALLEY COURT6180 QUAIL VALLEY COURT

RIVERSIDE, CA 92507RIVERSIDE, CA 92507Telephone: 800/427-4549 X210Telephone: 800/427-4549 X210

Fax: 760/670-4267Fax: 760/670-4267

Email: Email: [email protected]@pagroup.us

Web: Web: www.pagroup.uswww.pagroup.us

Plan Contact: Urs KaelinPlan Contact: Urs Kaelin

Pacific Administrators Knowledge Adventure Pension Plan Presented by Pacific Administrators Urs...

Documents

Transcript of Pacific Administrators Knowledge Adventure Pension Plan Presented by Pacific Administrators Urs...