Pub. 3 2020-21 Issue 2

24 Utah Asphalt Pavement Association WHAT IS THE RETIREMENT PLAN EXCHANGE? The Retirement Plan Exchange (the Exchange ) is a solution for small- to mid-sized businesses that allows you to offer a retirement plan to your employees that the Utah Asphalt Pavement Association (UAPA) offers as an additional benefit to our members. We designed the Exchange to reduce your administrative burden, transfer certain risks, and reduce the overall plan cost. The Exchange brings together a team of professionals on your behalf so you can focus on what matters most. WHAT’S THE COST? PLAN SERVICE FEES (paid by Employer) • One-time installation fee: $750 • Annual administration fee: $1,000 • Competitive asset-based fee: Refer to Exchange pricing summary PARTICIPANT SERVICE FEES (deducted from participant assets) • Annual participant fee: $22 Utahasphalt.org 801.984.8192 10808 South River Front Parkway, Suite 368 South Jordan Utah WHO DO I CONTACT? Taylor Dance, PPC, CPFA Managing Director – Consultant, GBS Retire 801.328.1457 info@gbsretire.com HOW DOES IT WORK? Sponsoring a 401(k) retirement plan brings with it many responsibilities. When you sponsor a retirement plan under the Exchange , you become a participating employer. The Exchange pulls together all the important parties to help you manage your retirement plan: • RECORDKEEPER | Transamerica • Recordkeeping • Call center • Distribution of required notices • Education/retirement readiness • FINANCIAL ADVISOR | Resources Investment Advisors • Provide employee investment education and communication • Help plan sponsors determine plan objectives, plan design and monitor plan statistics • Provide plan reviews • TPA & 3(16) | DWC – The 401(k) Experts • Plan document services • Compliance testing/Form 5500 • Defined contribution and defined benefit plan design/consulting • Authorize loans/distributions • Engage certain providers • 3(38) | Resources Investment Advisors • Select and monitor funds in the investment menu • Unbiased investment research and advice (no proprietary products) RETIREMENT PLAN EXCHANGE A Retirement Solution for Small Businesses