Let Alerus take on the administration duties so you can spend more time managing your business.
Plan administration can be complex and burdensome. This is especially true if your company doesn’t have personnel with specialized training to handle issues such as eligibility, vesting, loan administration, hardship reviews, QDRO determinations, etc. Alerus understands these employer concerns and, in addition to our usual services as third-party administrator, Alerus can act as a contractual co-fiduciary under Section 3(16) of ERISA.
3(16) Administration includes:
- Eligibility Determination
- Vesting Determination
- Loan Administration
- Hardship Reviews
- QDRO Reviews
Alerus can also handle your participant notifications:
- Summary Annual Report
- Participant 404a-5 Disclosure
- Safe Harbor Notice
- Qualified Default Investment Notice
- Auto Enrollment Notice
- Blackout Notice
- Fund Change Notice
- Summary Plan Description
- Summary of Material Modifications
