We are honored that you are joining the Servant Solutions family. In order to proceed with enrollment, you will need to complete the following steps: (Details found below)
___1. Complete both sides of the Employer Qualification Statement. This form is to be completed by an officer of your church. Also attach the requested supporting documents: (501(c)(3) verification and a statement of beliefs.
___2. Complete the Employer Eligibility & Participation Schedule to detail the church’s policy on how the retirement plan will be administered. Must be signed by a corporate officer of the church following approval of the document’s contents by the corporate board.
___3. Any participating staff must complete a Membership Application Form. Employees must sign both sides of the application. Make copies of both sides of each Membership Application form.
___4. Any participating staff contributing through a reduction in their gross salary should complete a Salary Reduction Agreement.
___5. When submitting a first deposit, include either a Remittance Form for each employee, or the Schedule Template if you are submitting for multiple employees.One check for the grand total amount of all contributions is sufficient.
____6. The church will create a Servant Solutions file: Include a copy of the Statement of Qualification, the originally-signed Eligibility & Participation Schedule and the Plan Document.
____7. In each Employee’s Personal file include: the originally-signed Membership Applicationform and the originally-signed Salary Reduction Agreement, (if applicable).
For the first deposit, include the following items:
1) Originally-signed Statement of Qualification and needed documentation
2) Photocopies (both sides) of all completed Membership Application forms
3) Completed Remittance Forms, OR a Schedule Listing for all staff
4) Signed check for grand total of deposit being made for all participating staff
5) Mail to:
PO Box 2559
Anderson, IN 46018
Consider utilizing the On-line Remittance feature Servant Solutions offers after the initial deposit is completed. (NOTE: Contact Judi Hall at 800-844-8983 to learn more about this option for making deposits.)
Encourage staff to create their Personal Account Log-in after the initial deposit is completed. It’s easily accomplished by clicking on that option (upper right-hand corner) on Servant Solutions’ web site home page.
DETAILED STEPS FOR ENROLLMENT
The following detailed information will help answer questions about establishing your organization with Servant Solutions as its official Retirement Plan.
1. Employer Qualification Statement: This form must be completed by a legal officer of your entity. Anyone on your board deemed appropriate to sign for such matters is appropriate. If not affiliated with the Church of God (CHOG) Anderson: Documentation evidencing shared common religious bonds and convictions with Servant Solutions as well as your organization’s IRS determination letter for 501(c)(3) status must be included. Any information pulled from your website, by-laws, or any other stated documentation that explains your ministry’s beliefs is sufficient for proving or evidencing “shared common religious bonds and convictions” with Servant Solutions.
2. EmployerEligibility and Participation Schedule: This form serves as a template for your organization to create its own “policy statement.” It will describe who is eligible to contribute, how often, if the organization will also contribute on behalf of the employees, etc. We recommend ALL employees can contribute at some level. The following are simply examples of what your organization’s governing board may approve:
“All Employees can contribute”
“All FT Employees can contribute and will be given a match”
“X-amount will be contributed on behalf of all PT employees.”
“$500 incentive will be given to any employee to open an account”
This completed document should be printed and kept on file. DO NOT send a copy of the document to Servant Solutions; it is for IRS purposes only in the case of an organizational audit. (You may wish to visit Frequently Asked Questions)
3. Membership Application: Both sides of this form must be completed by each employee desiring to open an account. See page 3 of the application for the breakdown of the LifeFunds. (Mutual funds a.k.a. Target Date Funds in the market.) If employees have questions about how to invest, please contact our office.
4. Salary Reduction Agreement: This form is to record the set dollar amount or percentage the employee desires the employer withhold from the employee’s salary to contribute to a retirement account. This form is to be kept on file in the employee’s personnel file and does not need to be returned to Servant Solutions.
5. Remittance Form OR Schedule Listing: If 1 or 2 employees contributes, use a Remittance Form for each. If multiple employees are contributing, use the Schedule Template. (See attached) The contribution amount should be written in the appropriate blank on the Remittance Form. A Remittance Form (for each member) or a Schedule Listing including each contributor for that pay period must be included with each mailed contribution check. Send in one check for the grand total of all contributions being remitted.
Differences in Contribution Types:
Type D – Employer Contribution- Organization gives as fringe benefit above and beyond salary. Organization makes the decision regarding amount to contribute. A pre-tax contribution is not reported as income on the W-2 form.
Type A – Salary Reduction- Member makes decision regarding amount they wish to contribute. Pre-Tax, paid by the participant from salary but remitted by organization on member’s behalf. Reduces federal and, if applicable, state taxable income liability.
Type G – Participant After Tax- Paid and deposited by participant on a personal check. Earnings only on these deposits will be taxed when withdrawn in retirement.
To remit contributions correctly, ask these questions that refer to the Contribution Types listed above:
a. Is the contribution Pre-Tax (Type D or A) or Post-Tax (Type G)?
b. Who’s making decisions about how much to contribute?
(If Board makes decision -Type D. If Pastor makes decision – Type A or G)
FIRST CONTRIBUTION: The first contribution(s) must be made by sending in a hard copy check along with a Remittance Formfor each employee. Or, if you have multiple employees making a first deposit, you may substitute a Schedule Templatethat provides all the same information found on the Remittance Form.
ONLINE CONTRIBUTIONS: After making your initial deposit, you may send in contributions electronically. Directions on how to remit online are on our website:
a) Go to www.servantsolutions.org.
b) Click on link at top right, ‘Remit Online.’
c) Log-In Page opens up, find, ‘First Time Users.’
d) Click on ‘Establish a Remitting Account.’
e) Follow the directions listed.
6. In order to comply with IRS regulations regarding an official Retirement Plan, there are certain documents that need to be kept on file. Please go to our website, www.servantsolutions.org, to make sure your organization complies.
a. Click on Learning Center
b. 403 (b) Regulations
c. Choose the 1st or 2nd orange paragraph heading (EXCLUSIVELY, or IN ADDITION TO).
d. Choose whether your organization is a QCCO or a NON-QCCO (definitions are included).
e. Click on the orange link that best describes your organization.
f. Keep these two documents printed in a file in case of an IRS audit:
a. TheServant Solutions Retirement Plan
b. Eligibility and Participation Schedule
7. Consider utilizing the On-line Remittance feature after the initial deposit is completed. (See info for reaching our Operations Team to learn more about this option for making deposits.)
8.Encourage staff to create their Personal Account Log-in after the initial deposit is completed. It’s easily accomplished by clicking on that option (upper right-hand corner) on Servant Solutions’ web site home page.
Establishing the legal requirements of a new retirement plan can be overwhelming. Please let us know if you have any questions. Our Operations Team (firstname.lastname@example.org or 1-800-844-8983) is standing by and ready to help!
Judi’s Direct Line: (765) 642-3939
Fax Line: (765) 642-3942