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Belgarath

FT William

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Didn't want to insert this in the other active thread concerning Plan Administration, so started this new thread.

Specifically regarding their document system - we currently use the Relius Document system. Wondering if folks here have used the FT William Document system and if so, what is your experience?

We're giving some consideration to switching over from Relius to FT William for documents only - if anyone else has done this, what was your experience? Did the "mapping" project go reasonably smoothly? Is their amendment system/module user friendly and does it work well?

Do they have a good "Pension Library" similar to the Relius Pension Library, with specimen forms, amendments,etc.?

Any and all comments appreciated!

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I can't speak to the mapping, because I moved from Relius to FT William by virtue of changing jobs. Here are a few observations about the differences that I've observed. For the most part, they are neither good not bad -- just different.

  • FT William does not have an equivalent to the Relius "build" function. As soon as you change a check box and save it, the documents will reflect that change when printed.
  • The document is also automatically updated for any global changes that are made to the program. So if you print a new copy, it may not match the version that the client signed.
  • There is a history feature in FT William that shows you all changes (including printing) that have been made to a document with date and name of the user who made the change.
  • The FT William adoption agreement does not specify how forfeitures are to be used, although the base plan document requires them to be used in the year of the forfeiture.
  • The FT William adoption agreement allows the plan sponsor to elect each year if they will do a match true-up rather than being hard wired into the document.
  • The FT William adoption agreement spells out the frequency that participants are allowed to make deferral election changes.
  • The Joinder Agreement that FT William uses for participating employers is considered to be a separate document within the program. It does not automatically print with the adoption agreement.

And, of course, nothing in the adoption agreement appears on the page or in the order that you're used to with Relius.

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B:

I can not speak to any form of conversion from Relius to FT William. Nor can I speak to, or offer a comparative analysis to Relius. However, I am very pleased with the FT William document software.

We use FT William to draft the bulk of our documents, including DB Plans, DC Plans, 403(b) and from time to time non qualified plans.

I am also very pleased with their level of support and repsonse to not only use of software issues, but also technical issues as it relates to document language, etc.

I think their amendment program works well. And yes, they offer a good Pension Library.

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I was very happy with the FTWilliam documents, but I only use them for one-offs, e.g., one plan at a time.

I had to revise it to get it up to snuff as I see the law, but the same applies to every protototype/mass submittor document out there. Except for volume submittors drafted by law firms, none of them are any good, at least not the ones I've seen. And I've seen more than fifty different documents. This one was better or as good as any other MS on the market.

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