Looking For New DB Prototype

[mming]

Can anyone recommend a firm that sponsors a DB prototype that gives the trustee the freedom to invest the plan's assets anywhere they like and not be restricted to the investments offered by the sponsoring company? We have been using such a prototype offered by an insurance company for decades, but their customer service has deteriorated so much that it's time for a change.

[ETA Consulting LLC]

I am not sure, but you may want to check out FT William. To my, very limited, knowledge, they have preapproved prototypes that may be used on a one-client at a time basis. Again, I am not sure, but it may be worth researching.

Good Luck!

[mming]

In addition to the insurance company's prototype, we were also using FT William's for several DB clients, only to find out they did away with them for the EGTRRA restatements. They claimed they had very few takers for GUST docs, so they didn't see the need to keep them going! Thanks for the reply, though.

[John Feldt ERPA CPC QPA]

SunGard (Corbel) has an EGTRRA DB prototype. It's worked well for those clients that don't need IDPs.

[Kevin C]

You might also want to look at ASC and Datair.

Also, most document providers have adoption agreement format VS documents now. You should be able to have the same reliance on the opinion letter for a VS document that you do for a NS prototype. I say should because the VS will likely have some "other" choices that, if used, will make it necessary to submit for a determination letter. But, if you are restating from a prototype, you won't be using any of those "other" choices.

[david rigby]

McKay Hochman also has a DB prototype.

[Guest hroussel]

ftwilliam.com does in fact have a Volume Submitter Defined Benefit for EGTRRA and a Volume Submitter Defined Benefit (prototype format) for EGTRRA. I'm not sure who would've told you we discontinued them, but that is false. If you have any questions regarding our documents, please don't hesitate to contact me holly.roussel-godfr@wolterskluwer.com.

In addition to the insurance company's prototype, we were also using FT William's for several DB clients, only to find out they did away with them for the EGTRRA restatements. They claimed they had very few takers for GUST docs, so they didn't see the need to keep them going! Thanks for the reply, though.

[SoCalActuary]

But a VS document is not a prototype document. It may have the same look and feel, but it is not identical.

[thepensionmaven]

But a VS document is not a prototype document. It may have the same look and feel, but it is not identical.

GHBC is the company that has taken over the DB prototypes that were previously offered by MetLife (New England Life before that). For a relatively small registration fee and a small annual fee, an Employer can adopt these prototypes, and the Trustees are not limited to any insurance company investments.

We are using these plans for our frugal clients.

[FormsRstillmylife]

Conrad Siegel Actuaries at conradsiegel.com has a volume submitter DB document. We are an actuarial firm and provide full services to DB plans, but you could buy just the document. Did I mention we have an independent investment advisor?