This section contains information that will help you process contributions and loan repayments to your ABA Retirement Funds Program (the Program) plan. We have included:

  • Definitions for the contribution formulas
  • Instructions for completing the Program forms, and
  • Details concerning transmittals to the Program.

Your role, as well as that of the plan participant and the Program, is also described in detail.

Highlights

In the chart below you will find the steps to process plan contributions.

Steps for Plan Contributions and Loan RepaymentsPlan Participant’s RolePlan Administrator’s RoleThe Program’s Role
1. Participant Contributions
• If there are pre-tax [401(k)] elective, after-tax employee or Roth 401(k) contributions, the participant must authorize deductions to the plan by way of a salary reduction agreement 
• In the case of a plan that has adopted automatic enrollment, the participant must have been provided with the required notice
√ (in the case of automatic enrollment)
2. Firm Contributions 
• Calculate amount of contribution and check “Quick Tips” for more information (also factor in any forfeitures to be used or reallocated, as well as contribution limits)
3. All Contributions
• Complete information for Payroll/Administration
• Complete Contribution and Loan Repayment Remittance Form
• Complete Rollover Certification Form for Individual Participant for rollover contributions
• Complete Notification of Contributions/Loan Repayments by Wire to wire transfer contributions and loan repayments to the Program
4. Send contributions, loan repayments, applicable forms, disks and/or checks to the Program
5. Process contributions/forms
6. Mail confirmation notice of contributions to the Plan Administrator
7. Complete Corrective Measures for Contributions Form to correct contribution mistakes or excess contributions