Employer Adoption Agreement - New Employer? Fill out the Employer Adoption Agreement to be a participating employer in the ACC Retirement Plan. Completing and returning this form commits you to abiding by the ACC Plan documents and IRS regulations.
It is generally the executive director, bookkeeper, accountant, or finance director who will be responsible for submitting the retirement plan contributions. It should be the person who handles payroll.
The primary responsibilities are to assist in enrolling new hires, determine the correct amount to contribute - both employer and elective salary deferral contributions, ensure the IRS Annual Limits are not exceeded (see limits below), and contribute within the legal timeframe - the fiscal year for employer contributions and by the 15th of the month following withholding from a paycheck for salary deferrals.
It is important for the employer to return copies of the Retirement Plan Contribution Calculation form and the Workplace Savings Plan Contribution form to the ACC, on behalf of the cantor, every year.
Refer to the plan documents and summary plan descriptions for all employer responsibilities.