Retirement Solutions Fact Finder

Transcription

1 Retirement Solutions Fact Finder MetLife Resources About The Retirement Solutions Fact Finder This Fact Finder is for internal use only for retirement plan opportunities in the not-for-profit market segment. The Fact Finder is the first and most important part of the proposal process for 401(k), 403(b), 457 and other employer-sponsored retirement plans. The goal of this form is to collect as much information about the client in order to be able to properly guide, educate and promote retirement investment solutions offered here at MetLife Resources. How to Use the Fact Finder: As noted, the Fact Finder is a critical first step in the proposal process. The quoting process for plans cannot begin until the Fact Finder must be submitted in good order. Before completing and submitting the Fact Finder, it s always a good idea to speak with your manager for assistance. Other documents may be required. The Fact Finder has two forms. Each need to be completed in its entirety. Download each form attached to the Fact Finder and fill out Retirement Plan Fact Finder Not-For-Profit Retirement Plan Fact Finder completely. Who to Contact: Not-For-Profit Inquiries: If you have any questions about the Not-For-Profit Fact Finder, or if you need assistance in completing this form, please contact the MLR Sales Support at (888) or MLRSalesSupport@metlife.com. Where to Send: Not-For-Profit: FAX the Fact Finder to (855) , or scan and the Fact Finder to factfindergeneric@metlife.com.

2 Retirement Plan Fact Finder (REQUIRED) SUBMITTER/REPRESENTATIVE INFORMATION Name Broker-Dealer MET Independent Mass Mutual Address City State Zip Phone DAI #/Representative # Firm # 403(b) Certified: (If No, contact MLR Sales Support to become certified.) INDEPENDENT (Name of Broker/Dealer) Representative DAI or BAI Number Manager s Name Manager s Phone Number Service & Commission Information (Complete if any special compensation.) Do you plan to split compensation with other Representatives? If yes, list Representatives and % of split. Representative Name % of Compensation Other Special Compensation Arrangement (May require prior approval of CEC and Management) Representative Name % of Compensation CLIENT INFORMATION 403(b) Certified: New Client Existing Client Name of Plan Sponsor Address City State Zip Contact Name & Title Plan Sponsor/Client Federal Tax ID For-Profit Entity Type: Corporation Union Partnership Sole Proprietorship Not-For-Profit Entity Type: IRC 501(c)(3) Church Healthcare Governmental Other K-12 Higher Ed State or Local Educational Organization CURRENT PLAN INFORMATION - PLAN AND PROVIDER (Required) Plan Name Trust Name (If different than Plan Name) Plan Type (Note: More than one may apply.) 403(b) ERISA Church Plan (ERISA exempt) SIMPLE IRA 457(b) Governmental Defined Benefit 403(b) non-erisa 401(a) Profit Sharing SEP/IRA 457(b) Select Group Other 403(b) Church Plan (ERISA) 401(a) Money Purchase 401(k) 457(b) Tax Exempt Current Plan Expense Name of incumbent provider What are their expenses?_ List the surrender charges (If any) Market Value Adjustment Proposal Type: Start-Up Takeover Desired Plan Type: Defined Contribution Defined Benefit If Takeover: Current Assets in Plan: _ Estimated Annual Contributions Expected Eligible Employees As of Date: Page 2 OF 6

3 Not-For-Profit Retirement Plans Fact Finder This Not-For-Profit Fact Finder is designed to help you gather the most important information that is needed to generate a customized proposal or conduct a provider search. This must be completed for all retirement plan opportunities in the not-for-profit market. PROPOSAL INFORMATION Select One: New Client Existing Client Name Group # Current Product _ Current Product _ Current FSR _Generic Proposal: Standard brochures, fee sheet and cover letter. No formal questions or client RFP. _Custom Proposal: In response to client Request for Proposal (RFP). The RFP from the client must be provided electronically in Word, PDF or Excel format. _No Proposal Needed: Will be using existing, pre-approved materials. Date Needed ( ASAP NOT Acceptable) If this is a current client, are they currently under a Member Access and Communication Agreement (MACA) agreement? (NOTE: A MACA agreement is used whenever MetLife is paying a fee to a sponsor/entity for access and communication to its members for an ongoing period of time.) Does this client have a MACA agreement? If yes, which one: PLAN DETAIL Will MetLife be doing ERISA Compliance testing? Will the Plan Sponsor require MetLife to provide a plan document? Will MetLife be the If no, how many vendors? (FASCore and Is there an exclusive provider? Annuity Operations each count as ONE vendor) employer contribution? Yes* (MET must be exclusive provider.) No Select One: Startup Plan (no existing or prior plan) Existing Plan but new to MetLife Intended date of replacement Group Number (EGN): Renewal Plan (for existing MetLife clients) Plan Number 1 Total Plan Number 2 Total Plan Number 3 Total Plan Number 4 Total Plan Number 5 Total * If applicable. If more than five plans, please provide an additional page. Page 3 OF 6

4 PRODUCT INFORMATION Select ONE program below. o Variable Annuity Program GTS (Indicate version/m&e ): _Financial Freedom Account (FFA)*: FFA V1* FFA V2* FFA V1* _Other: o Existing Plan Options** _Financial Freedom Account (FFA)*: FFA V1 FFA V2 FFA V3 Service Level (for 403(b) ERISA plans) Funding Only (RetireFunds) Funding Only + Plan Document (RetirePlans) Full Service (RetireServe; MetLife must be exclusive vendor) (Funding + plan document + ERISA compliance service.) _Other: _MetLife s Financial Freedom Select Class Share Class B&L (MFFS) o Mutual Fund Program Mutual Funds (over 200 lives and over $10M in assets is required) Fixed Account Options Strategic Value Annuity (SVA) (not offered in NY, OR, and TX) GTS liquid (only offered in NY, OR, TX) Additional (Optional Services*): ExpertAdvice (Morningstar for ERISA only) Triple Solutions Program Self Directed Brokerage Account (SDBA) Wealth Management Services MetManaged GIC*** - Stable Value (typically over $10M in fixed account assets is required) SA41 SA378 SA645 Collective Investment Trust (CIT)*,*** (For 401(a)/457(b) governmental plans only) The Stable Asset Fund II (Version II is the only version available.) FUNDING INFORMATION Please Fill in the Plan Information Below Estimate of Assets to Transfer to MLR Participants Flow Transfers Annual Employer Contributions: $ _ Day 1 > Annual Employee Contributions: $ _ Year 1 > Total Annual Flow: $ _ Year 2 > Total Plan Assets: $ _ (If multiple plans indicate assets by plan) Year 5 > ADDITIONAL INFORMATION Loans: 403(b) 401(a)/(k) (Variable annuities require approval and may not be available) If multiple payroll sources, how many? Who will be the servicing team? Who will be the lead servicing rep? Who should the cover letter be addressed to? Hot button issues or other information? * Some products may not be available for new plans or to new clients. Product selection may require underwriting approval. ** Not available to new plans. Page 4 OF 6

5 SUBMITTER/REPRESENTATIVE INFORMATION Does the plan sponsor or employer have a Consultant, Agent or Advisor (not affiliated with MetLife) assisting them in selecting the funding vehicle for the retirement plan? > If YES, is the Consultant a Co-Fiduciary with the Plan Sponsor/Responsible Plan Fiduciary? > If YES, is the Consultant also responsible for selecting or helping the Plan Sponsor/Responsible Plan Fiduciary to select the investment funds/separate accounts available for the Retirement Plan? Consultant/Advisor Name Employer/Firm Address City State Zip Phone Job Duties Other Duties or Relevant Information Is this case being sold through a Request For Proposal (RFP) or bidding process where other firms are being requested to reply or offer their products? > If YES, is the reply limited to products requested by the employer and/or consultant/advisor in the bid request? Based on the profile information provided: > Do you, as a member or associated person, have a reasonable basis to believe that this organization is is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies involving a security or securities? > Does this organization affirmatively indicate that it is exercising independent judgment in evaluating the member s or associated person s proposal? Note: Where the plan sponsor or employer organization has delegated decision-making authority to an agent, such as a third party investment adviser or consultant, these factors shall be applied to the agent. Based on the review of this case, the plan sponsor/employer is qualified to make independent investment decisions and can independently evaluate the investment risks. If NO, the Representative provided approved investment education materials to educate the customer of the available investment options and any risks associated with the product selected, and the customer is adequately informed to make the decisions with respect to judgment and investment risk evaluation. Based on representations made by the customer, the products they selected meet their needs. If the product offered is a variable or registered fixed annuity, the prospectus will be sent with the final proposal. If the plan is subject to ERISA, the408(b)(2) disclosure document will also be included with the proposal. Submitter/Representative Sign-off: (The submitter/representative must not be the principal.) Signature Date Principal Certification:(The OSJ/Principal must not be the representative/submitter.) Print Name OSJ/Principal Signature Date Page 5 of 6

6 For Producer Use Only. Not For Public Distribution. The information contained in this document is not intended to (and cannot) be used by anyone to avoid IRS penalties. This document supports the promotion and marketing of insurance or other financial products and services. Clients should seek advice based on their particular circumstances from an independent tax advisor since any discussion of taxes is for general informational purposes only and does not purport to be complete or cover every situation. MetLife, its agents, and representatives may not give legal, tax or accounting advice and this document should not be construed as such. Clients should confer with their qualified legal, tax and accounting advisors as appropriate. Metropolitan Life Insurance Company, New York, NY MLR METLIFE, INC. L [exp1218][All States][DC]