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
   • 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. Employer reviews the forms and countersigns each SRA. Employer retains the SRAs in each employee’s personnel file.
3. Employer creates a Census File Blank - PCS.xls file in Excel and uploads it through the Aspire website. Please note that an email address is required for each participant in the excel file.

4. Aspire sets up each participant in the plan and sends those employees who have will be contributing a welcome email with login credentials and instructions to Aspire’s 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.