First American Bank. Qualified Retirement Plan Services. Plan Participant Online User s Manual

Transcription

1 First American Bank Qualified Retirement Plan Services Plan Participant Online User s Manual

2 Contents Access Your Account...1 Investments Menu...7 Investment Elections...16 Transfer Funds...20 Model Loan...31 Transaction History...33 Web/VRU Requests...35 Password Change...37 Reports...38 Forms...40 Retirement Calculator...41 Miscellaneous...42

3 Access Your Account 1. Go to 2. In the Login to Services section, select 'My 401k Plan Participant' from the drop-down menu. 3. Click 'go' to continue logging into your account. Access Your Account 1 of 6 FAB - Plan Participant Online User's Manual 1 of 42

4 4. Click on the login box for 'My 401(k) Plan'. Access Your Account 2 of 6 FAB - Plan Participant Online User's Manual 2 of 42

5 5. Where prompted, enter your User ID and Password. (Note: For first-time users, User ID will be SSN and Password will be the last 4 digits of SSN). 6. After providing User ID and Password, click on the button labeled 'Participant' to continue. Access Your Account 3 of 6 FAB - Plan Participant Online User's Manual 3 of 42

6 7. After accessing your account for the first time, you will be prompted to establish a new User ID and Password. 8. Establish a new User ID and Password based on the criteria indicated and click the 'Submit' button to proceed. Access Your Account 4 of 6 FAB - Plan Participant Online User's Manual 4 of 42

7 9. After receiving confirmation of your User ID/Password Change, continue accessing your account by selecting 'Benefits Summary' from the toolbar at the top of the page. Access Your Account 5 of 6 FAB - Plan Participant Online User's Manual 5 of 42

8 The Summary Page provides an overview of your entire account, investments and other related information: Personal Info - address on file, date of birth, date of hire, entry date into Plan At a Glance - provides quick summary of total balance, vested balance and employment information Balance by Investment - provides daily value of your assets by fund Balance by Source - provides daily value of your assets by money type (i.e. 401(k), profit sharing, etc.) Charted Balances - provides a graphical summary of balance composition by fund Access Your Account 6 of 6 FAB - Plan Participant Online User's Manual 6 of 42

9 Investments Menu Account Balance provides your account balance by investment, and provides more detailed information such as: Vested balance by fund Number of fund shares owned Price per share Investments Menu 1 of 9 FAB - Plan Participant Online User's Manual 7 of 42

10 You also have the option to view your account balance by money type. Choose 'Source' to view the following: Account balance by source (deferral, match, profit sharing, etc.) Vested account balance by source Applicable vested percentage by source Investments Menu 2 of 9 FAB - Plan Participant Online User's Manual 8 of 42

11 Investment Elections allows you to view how funds are currently being allocated within your account. The 'All Sources' option shows what elections you have selected for your whole account and all money types. The source options below 'All Sources' reflect what elections you may have set up for different money types, such as 'Employee deferrals', 'Employer match', etc. Investments Menu 3 of 9 FAB - Plan Participant Online User's Manual 9 of 42

12 Select a source from the available options to view the current allocation on file: Investments Menu 4 of 9 FAB - Plan Participant Online User's Manual 10 of 42

13 View Loans provides detailed information on any outstanding participant loans: Current loan balance Initial loan amount Payment Amount Remaining payments Next payment date Loan effective date Amortization schedule Investments Menu 5 of 9 FAB - Plan Participant Online User's Manual 11 of 42

14 Investment Profiles provides current fund offerings along with fund family, ticker symbol and current share price. To view more detailed information for each fund such as the prospectus or fees/trading rules, click on the applicable icon following the individual fund name. = fund prospectus = fees/trading rules Investments Menu 6 of 9 FAB - Plan Participant Online User's Manual 12 of 42

15 Rate of Return provides your personalized rate of return for your account as a whole. Investments Menu 7 of 9 FAB - Plan Participant Online User's Manual 13 of 42

16 You can view returns for individual funds over various date ranges by selecting the appropriate drop-down menus. Investments Menu 8 of 9 FAB - Plan Participant Online User's Manual 14 of 42

17 Returns can be viewed on an annual, quarterly or monthly basis by selecting the desired tab on the right-hand side of the page. Investments Menu 9 of 9 FAB - Plan Participant Online User's Manual 15 of 42

18 Investment Elections As a participant in your company's retirement plan, you are responsible for directing how your funds are invested. To establish your investment elections, follow the instructions provided below. (Note: If you do not establish elections, any funds deposited into your account will be invested into the plan's default fund option). 1. To set up your elections, choose 'Investment Elections' from the 'Transactions' drop-down menu in the toolbar. 2. You will need to select the source of money for which your elections will apply (i.e. all sources, employee deferrals, etc.): All Sources = your elections will apply to all money types in your account Other Sources = you have the ability elect different elections for each money type Investment Elections 1 of 4 FAB - Plan Participant Online User's Manual 16 of 42

19 3. You will be presented with a list of all available fund options for your plan. To choose a fund, enter the appropriate percentage in the righthand column where indicated. Once complete, click 'Submit'. (Note: The minimum increment % allowed for a fund is 1.00% and your elections need to total 100%). Investment Elections 2 of 4 FAB - Plan Participant Online User's Manual 17 of 42

20 4. After submitting your fund choices, you will have the chance to review your new elections. You will need to indicate that you have read the Fund Prospectus for each selection, and you can indicate this by clicking the 'Select All' button. 5. Once you choose 'Select All', click on the 'Continue' button at the bottom of the page to proceed. (Note: To view the Fund Prospectus, click on the link after each Investment). Investment Elections 3 of 4 FAB - Plan Participant Online User's Manual 18 of 42

21 6. You will receive confirmation of your Investment Election change. Investment Elections 4 of 4 FAB - Plan Participant Online User's Manual 19 of 42

22 Transfer Funds The 'Transfer Funds' option allows you to transfer assets in your account between investments. To get started, select the 'Transfer Funds' option from the 'Transactions' menu. Transfer Funds 1 of 11 FAB - Plan Participant Online User's Manual 20 of 42

23 You have the option to choose between the following transfer types: Transfer Between Investments Rebalance Investments Based on Target Percentages Rebalance Investments Based on Current Allocation Percentages Choose the desired transfer method by clicking the 'Transfer type' drop-down box. Transfer Funds 2 of 11 FAB - Plan Participant Online User's Manual 21 of 42

24 Transfer Between Investments transfer desired percentages directly from one fund to another. Example: Participant wants to transfer 10% of their balance in the FAB Balanced Growth Model and split it up equally between four other funds: FAB Aggressive Growth Model, Pimco Low Duration II, FAB Michelangelo Bond and FAB Michelangelo Equity. 1. In the 'From' column, enter 10% in the box indicated for the FAB Balanced Growth Model. 2. In the 'To' column, enter 25% into each of the four funds that will be receiving the proceeds of the transfer. (Note: Since the participant will allocate ALL of the 10% being transferred, the 'To' column must always equal 100%) 3. Click 'Submit' when done. Transfer Funds 3 of 11 FAB - Plan Participant Online User's Manual 22 of 42

25 4. After submitting the transfer, you will have a chance to review the request to confirm if the transfer is subject to transfer fees and view the projected new balances by fund. You will need to indicate that you have read the Fund Prospectus for each selection, and you will need to choose the 'Select All' button in order to proceed. = fund prospectus = fees/trading rules 5. Once you choose 'Select All', click on the 'Continue' at the bottom of the page. Transfer Funds 4 of 11 FAB - Plan Participant Online User's Manual 23 of 42

26 6. When the transaction is successfully completed, you will receive a confirmation number to reference this transaction. Transfer Funds 5 of 11 FAB - Plan Participant Online User's Manual 24 of 42

27 Rebalance Investments Based on Target Percentages this option allows you to realign your entire account according to desired percentages for particular funds. Example: Participant wants existing assets invested to reflect the following target percentages: 10% FAB Balanced Growth Model, 15% FAB Aggressive Growth Model, 25% FAB Michelangelo Bond, 25% Michelangelo Equity, 25% Royce Premier. 1. Enter the desired percentages in the column titled 'Target %' (Note: The total of the Target % column must equal 100%). Note: This transaction only transfers your existing assets. If you want future contributions to be invested in accordance with these percentages, click on the box at the bottom of the page indicating "Update my percentages in all sources to match my target %". 2. Click 'Submit' when done. Transfer Funds 6 of 11 FAB - Plan Participant Online User's Manual 25 of 42

28 3. After submitting the transfer, you will have a chance to review the request to confirm if the transfer is subject to transfer fees and view the projected new balances by fund. You will need to indicate that you have read the Fund Prospectus for each selection, and you will need to choose the 'Select All' button in order to proceed. = fund prospectus = fees/trading rules 4. Once you choose 'Select All', click on the 'Continue' at the bottom of the page. Transfer Funds 7 of 11 FAB - Plan Participant Online User's Manual 26 of 42

29 5. When the transaction is successfully completed, you will receive a confirmation number to reference this transaction. Transfer Funds 8 of 11 FAB - Plan Participant Online User's Manual 27 of 42

30 Rebalance Investments Based on Current Allocation Percentages - this option allows you to realign the ending balance in each fund to be equal to the percentage being used to allocate contributions. Example: Current contributions are invested as follows: 25% to FAB Michelangelo Bond, 25% to Sentinel Common Stock and 50% to Royce Premier. 1. After choosing this option from the 'Transfer type' drop-down box, click 'Submit' at the bottom of the page. Transfer Funds 9 of 11 FAB - Plan Participant Online User's Manual 28 of 42

31 2. After submitting the transfer, you will have a chance to review the request to confirm if the transfer is subject to transfer fees. You will also need to indicate that you have read the Fund Prospectus for each selection, and then choose the 'Select All' button in order to proceed. = fund prospectus = fees/trading rules 3. Once you choose 'Select All', click on the 'Continue' at the bottom of the page. Transfer Funds 10 of 11 FAB - Plan Participant Online User's Manual 29 of 42

32 4. When the transaction is successfully completed, you will receive a confirmation number to reference this transaction. Transfer Funds 11 of 11 FAB - Plan Participant Online User's Manual 30 of 42

33 Model Loan For Plans that allow loans, participants have the ability to model loans in order to determine estimated loan payments based on the loan amount and number of payments. 1. Select 'Model Loan' option from the 'Transactions' menu. Model Loan 1 of 2 FAB - Plan Participant Online User's Manual 31 of 42

34 2. Under the section titled 'Model Loan', you can view the minimum and maximum loan amounts available, the minimum and maximum duration for the loan repayment period and the applicable interest rate. 3. Select the loan type (personal loan vs. principal residence loan). 4. Enter the desired loan amount. 5. Enter the number of desired loan payments and click 'Model' to get the estimated payment amount. Model Loan 2 of 2 FAB - Plan Participant Online User's Manual 32 of 42

35 Transaction History To view a detailed transaction history of account activity, choose 'Transaction History' under the 'Transactions' menu. Transaction History 1 of 2 FAB - Plan Participant Online User's Manual 33 of 42

36 1. Select the following options in the indicated drop-down menus to view transaction history: Investment: view history for all investments or just individual funds Source: view history for all sources of money or individual sources (401(k), match, etc.) Transaction to display: display all activity or just certain types (contributions, transfers, dividends, etc.) Show account history from: select date range for transaction history Transaction status: show all transactions, unprocessed transactions or processed transactions Please note that transaction history is reflected on an effective date basis. Example: To view an employer profit sharing contribution for the Plan year ended December 31, 2010, you will need to search transaction history using this date - not the date the contribution was actually funded. 2. Click 'Submit' when done. Transaction History 2 of 2 FAB - Plan Participant Online User's Manual 34 of 42

37 Web/VRU Requests Select this option from the 'Transactions' menu to view history of all account requests processed online or through the Voice Response Unit (VRU). Web/VRU Requests 1 of 2 FAB - Plan Participant Online User's Manual 35 of 42

38 1. Select the following options in the indicated drop-down menus to view Web/VRU history: Transaction to display: display all requests or just certain types (allocation changes, PIN changes, etc.) Transaction Status: show all requests, unprocessed requests or processed requests Show Account History From: choose a beginning date for the history Confirmation: enter confirmation number of specific transaction request, if desire 2. Click 'Submit' when done. Web/VRU Requests 2 of 2 FAB - Plan Participant Online User's Manual 36 of 42

39 Password Change Choose this option from the 'Personal Profile' menu to change your User ID or Password. Password Change 1 of 1 FAB - Plan Participant Online User's Manual 37 of 42

40 Reports This option allows you to request and view real-time benefit statements for any date range in a particular plan year. 1. To generate a statement, choose the following options in the 'Create Reports' section: Select report group: leave the drop-down box as 'None'. Select report: select 'Participant Statement' from the drop-down box. Available plan years: choose the plan year in which the request is being generated (i.e. 01/01/ /31/2010). From date: choose the starting date within the plan year selected (i.e. 03/01/2010). To date: choose the ending date within the plan year selected (i.e. 07/31/2010). Select 'Submit' to generate the report. Reports 1 of 2 FAB - Plan Participant Online User's Manual 38 of 42

41 When the report has been generated, click on the 'Open Report' link in the pop-up box to view the participant statement. Reports 2 of 2 FAB - Plan Participant Online User's Manual 39 of 42

42 Forms Certain plan forms are accessible online through the participant accounts. Contact your Plan Administrator if the desired form is not available for download from the website. Forms 1 of 1 FAB - Plan Participant Online User's Manual 40 of 42

43 Retirement Calculator In an easy-to-follow format, you simply fill in the requested information to obtain an estimate of your future assets. Retirement Calculator 1 of 1 FAB - Plan Participant Online User's Manual 41 of 42

44 Miscellaneous Review general information about the Plan, in addition to recent newsletters to assist in planning for your future and the latest retirement planning trends. Miscellaneous 1 of 1 FAB - Plan Participant Online User's Manual 42 of 42