This page was last updated on: June 22, 2015
| ACTIVITY DESCRIPTION | TPA | RBSD of the OSC |
|---|---|---|
| Participant Education | Develops seminars, counseling materials, conducts educational meetings. Supplements with online resources. | Approves content of seminars, counseling material, and online resources. |
| Participant Enrollment Meetings | Conducts enrollment meetings. Expedites enrollments via Web site. | Approves enrollment material; helps TPA schedule meetings. |
| Description of Plan and Benefits | Distributes materials, maintains Web site for plan. | Approves all distribution and Web site content. |
| Marketing materials describing investment options | Prepares in consultation with third-party fiduciary service and RBSD. | Approves content to ensure unbiased information. |
| Participant recordkeeping and services | Maintains records and provides services directly to participants. Provides online account access and functionality for participants. Establishes IRS compliance program for participant contributions. | Provides single payroll feed to TPA. Works with TPA to enforce IRS compliance. Approves Web site content and functionality. |
| Plan record-keeping and services | Produce reports for OSC on plan enrollment, transfers, and distributions, participant asset allocation, etc. | Provides specifications for content of reports. |
| Investment performance - plan sponsor | Consolidates data for submission to OSC. Conducts quarterly performance review with OSC. Alerts OSC of any potential problems with investment options. | Reviews reports quarterly with TPA. |
| Investment performance and benefits report- plan participants | Establishes standards and model performance report for participants. These reports may also be available online. | Works with TPA to ensure that reports are unbiased, clear, and thorough. |
| Investment Policy Statement | Develops together with RBSD. Provides consolidated investment statement. | Will supply current statement for review by third-party fiduciary service and TPA. |
| Investment Options - Evaluation and Selection | Offers only investment options which meet Investment Policy guidelines and which are acceptable to OSC. Utilizes third-party fiduciary services. | Gives final approval for investment options. |
| Payroll and Cash Flow Processing | Works with OSC to develop processes and guidelines. | Provides guidelines. |
| Payroll and Account Reconciliation | Works with OSC and providers to develop processes and guidelines. | Provides guidelines. |
| Hardship Withdrawals | Develops and applies guidelines. | Provides guidelines. |
| Qualified Domestic Relations Orders | Develops and applies guidelines. | Provides guidelines. |