September 2014

First Quarter
September 2014
getting to the
This is the First Quarter communication of the
Year End Zone. Watch your email between now
and December for the next three!
play offense not defense
With year end quickly approaching, now is the perfect time to review the operation of your 401(k) Plan.
It’s important that you review the 401(k) Plan requirements each year to ensure compliance with the governing plan document and
administrative policies. Failure to follow the terms of the Plan may create compliance problems which are often discovered during a
plan audit. Here follow some key considerations for your annual review regarding the ongoing operation of your 401(k) Plan.
1
Your 401(k) Plan may use different definitions of
compensation for calculating different types of
contributions. It’s important to use the correct
definition outlined in your Plan Document.
The terms of the Plan must be followed when
calculating employer match as well as profit
sharing contributions.
2
Any employee who meets the eligibility
requirements of the Plan, and is employed on
the entry date, may elect to begin making salary
deferrals into the Plan. Review to make sure all
eligible employees were identified, given the
opportunity to make a salary deferral election
and that the election selected was both followed
and started in a timely manner.
3
Plan participant salary deferrals should be submitted
to the Plan as soon as they can be segregated from
the employer’s assets and deposited each pay
period.
4
Outstanding Plan participant loans should be repaid
utilizing payroll deduction and payments should
follow the loan’s amortization schedule. Review to
ensure that payments are being deducted from the
Plan participant’s paycheck and submitted through
the payroll upload process in a timely manner.
5
Review the census information to ensure it
is accurate and complete, double checking
compensation, deferral and any employer
contribution amounts. Utilize the reports available
on the DailyAccess Plan Sponsor Website to cross
check your payroll records, making sure that all
amounts are consistent across both systems.
6
In-service and hardship distributions available
under the Plan should follow the Plan Document
and, if applicable, proper documentation should be
requested from the Plan participant and maintained
as part of Plan records.
7
Ensure that mandatory cash-outs for terminated Plan
participants are made on a consistent basis.
While this is not a comprehensive list, the items listed above can assist you in reviewing the operation of your Plan and may
help identify any potential issues. If you discover any inconsistencies with the operation of your 401(k) plan, please contact your
DailyAccess Relationship Manager for assistance.
First Quarter
09.2014
DailyAccess Year End Zone
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check out our new product enhancements
New :: Plan Participant Education & Enrollment Support
DailyAccess now offers Education & Enrollment Support Services to our
clients. In an effort to provide flexibility, DailyAccess can either conduct
these sessions or, if you prefer, you can work directly with your Financial
Advisor.
DailyAccess’s education programs have been developed and structured
around taking complex concepts and transferring these into information
that is easy to understand. Our programs are designed to meet the diverse
needs of today’s workforce, whereby Education Specialists are available to
conduct sessions in both English and Spanish.
DailyAccess offers clients additional flexibility when designing Education
and Enrollment programs, including:
1. Onsite group education and enrollment meetings (up to 4 meetings
per day/per location)
2. Webinars (up to 3 per day)
3. Benefit Fair (one location)
4. One-on-one education meetings (15 minutes in duration and
no investment advice provided)
5. Combination of group and one-on-one meetings
6. Meetings available in English and Spanish
Upon completion of each education meeting, an education and enrollment
report which includes statistics on meeting attendance, questions asked
during the sessions and any other key findings will be used for appropriate
follow-up.
Reminder :: Mobile Phone Optimization
The DailyAccess Plan Participant Website is optimized to make it easier for
Plan participants to manage their retirement plan from their smart phone.
From the mobile website, a Plan participant can:
• View account balance and investment summary information
• Rebalance accounts
• Change website settings
• Contact Plan Participant Support
• Change Plans
University of Alabama
Football Trivia
It’s been said that “Alabama’s
Million Dollar Band” got its name
when someone in the press box
said “your football is not very
good, but your band is worth a
million bucks.”
When the University first began
its football program in 1892, the
team was referred to as “The
Thin Red Line.”
Coach Bear Bryant was
Alabama’s coach from
1958-1982!
Bear Bryant never really liked the
elephant as a mascot. He thought
they were slow and stupid.
Because of this, the elephant
wasn’t officially recognized as a
mascot until 1978.
Bear Bryant was known for
his trademark black and white
houndstooth hat, deep voice,
casually leaning up against the
goal post during pre-game warmups, and frequently holding his
rolled up game plan while on
the sidelines. To this day the
Alabama grandstand is full of
hound’s tooth-sporting fans.
Accessing your account from a smart phone is easy:
1. Log into your account by going to www.dailyaccess.com. Click the Login button, and then select Participant.
2. When the pop-up message appears asking, “Would you like to view the mobile optimized version of this
website?” Click OK.
3. Click Login and enter your Username and Password.
4. View the actions listed on the home screen and click on the one(s) you want.
First Quarter
09.2014
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As Vice-President of Human Resources for California Credit Union (CCU), Joyce Wasserman has a lot on her plate. Working
with DailyAccess to manage the retirement Plan allows her to focus her attention on other priorities.
Wasserman is an advocate (dare we say fan?) of the DailyAccess Plan Participant Website:
“I love the online program and the fact that participants are able to go online to look at their balances, apply for loans and
find other [useful] information,” Wasserman said.
A DailyAccess client for six years, CCU was initially served by Relationship Manager Kimberly Sykes. When Sykes was
promoted into a new role at DailyAccess, Terrie Joyner assumed RM responsibilities. DailyAccess employs a single point of
contact approach to serving clients augmented by a team concept. This means that Joyner is now the single point of contact
for the Plan (the quarterback, so to speak); Sykes is a member of the team which provides back up support for Joyner (like
when she takes a long weekend road trip to watch a University of Alabama football game for instance)!
Working with Sykes was a “great experience,” Wasserman said. While Joyner had big shoes to fill, Wasserman said she’s
done well since Sykes passed the ball to her.
“Just recently we had some questions regarding RMDs (Required Minimum Distributions); Terrie was able to answer those
questions for me. Another time, we had questions on a QDRO (Qualified Domestic Relations Order); she was able to help
then too,’’ Wasserman said.
In a recent visit by Sykes and DailyAccess COO Kristen Alexander, Wasserman was made aware of our optimized Plan
Participant Website capability (see more about that on page 2).
California Credit Union was founded by a Los Angeles teacher in 1933 and has grown to be one of the largest credit unions
in Southern California, serving the educational community. Headquartered in Glendale, CA they have 85,000 members and
13 branch locations.
Rammer Jammer* Baked Beans
Perfect for tailgating!
From University of Alabama Cookbook
by Browne Mercer
First Quarter
09.2014
What you need:
• 1 pound ground beef, browned
• 1 white onion, diced
• 2 tablespoons garlic, minced
• 2 28-ounce cans Bush’s Maple
Cured Baked Beans
• 2/3 cup crushed tomatoes
• 2 tablespoons yellow mustard
• 1 tablespoon Worchester sauce
• 1/8 teaspoon granulated garlic
• ¼ teaspoon pepper
• Salt to taste
What you do:
Brown ground beef and onion.
Add garlic and beans.
Combine the remaining ingredients
with meat mixture in a casserole
dish and bake at 350 degrees for 45
minutes to an hour or until hot and
bubbly.
*The “Rammer Jammer Cheer” is a traditional
and controversial cheer which taunts the
Crimson Tide’s football opponents. It typically
is played towards the end of a game when an
Alabama victory is certain.
DailyAccess Year End Zone
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Team Player
Terrie Joyner, Relationship Manager
Terrie has been with DailyAccess for five years. Prior to joining
DailyAccess she worked for 15 years in the fields of human resources,
payroll and accounting.
The Char-Broil Grill2Go portable gas grill/
cooler combo is the perfect accessory for your
tailgating extravaganzas this football season ‒
and it could be yours!
“I actually worked on the ‘other side’ so I can relate to the issues our
Plan Sponsors have every day,” Terrie said. “It’s very self-gratifying to
know that you made someone’s job easier. I love solving problems.”
Submit your answers to the eight questions
below to [email protected] by
Thursday, October 16 at 5:00 p.m. Central.
Entries with all 8 questions answered correctly
will be entered in a drawing* to win! The winner
will be notified by phone and listed in October’s
Second Quarter edition of The Year End Zone.
Favorite Football Team: Alabama Crimson Tide
Person She’d Most Like to Meet (present or past): Princess Diana
Inspiration for Doing Good: “Setting a good example for others, and
the belief that I have hopefully helped someone along the way.”
1. Who did Alabama beat in the 1993
Sugar Bowl?
Little Known Fact About You: “My dad’s name is Jimmie Hendricks.
Not spelled the same as the famous singer, but notable just the same.
There is always a reaction when someone finds out!”
2. What was the first bowl game Gene
Stallings went to as Alabama’s head
coach?
3. Who was the coach of Alabama before
Bear Bryant?
4. What team did Alabama beat in the
1926 Rose Bowl – a game which is
commonly referred to as “the game that
changed the south”?
5. What former Tide player became a
movie star?
6. In what year was the term “elephant”
first used to describe the Tide’s varsity
squad?
7. What year did Alabama achieve their
first victory over rival Auburn?
8. Mark Ingram, the starting running back,
brought Alabama which individual
award for the first time in the school’s
history?
DailyAccess Mobile, AL Team
“The achievements of an organization are the results of the
combined effort of each individual.”
~Vince Lombardi
*This drawing is restricted to Plan Sponsors only.
First Quarter
09.2014
DailyAccess Year End Zone
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