Plan Adoption Agreement Guide

Thank you for using the Vestwell Platform! This guide (the “Guide”) contains helpful explanations of various plan provisions you are selecting by executing the Plan Adoption Agreement. The Guide is organized to mirror the sections and primary provisions throughout the Plan Adoption Agreement; you may consider reviewing the Guide alongside the Plan Adoption Agreement section by section, or simply use and maintain it in your plan records as a reference for provisions you would like to better understand. It is important to note that the Plan Adoption Agreement and its associated Basic Plan Document (collectively referred to as the “PAA”) are legally enforceable documents, and in the event that any inconsistencies arise from interpretations between this Guide and the PAA, the PAA shall govern.

As an authorized representative of the Plan Sponsor, it is your responsibility to review and approve every plan feature. Due to legal and regulatory requirements, it may not be possible to make modifications to the plan until at least the first of the following plan year after you execute the PAA. We use the PAA to conduct annual compliance testing, prepare the plan's Annual Return (the Form 5500) and related filings, and administer your plan throughout the year. If your plan is required to undergo an annual audit, the PAA will be a critical part of that process. Given the importance of the PAA, therefore, you may wish to review it with your tax or legal advisor; please review it thoroughly to ensure it is accurate and reflects your intent.

Additionally, as explained throughout this Guide, certain plan features, if elected, require you to undertake additional responsibilities due to the complexity of administering such features. By signing the PAA, you agree to perform those additional responsibilities and those obligations become a binding part of your Vestwell Plan Services Agreement.

Please contact us if anything in the PAA or this Guide is unclear. If you are satisfied that the PAA reflects your intended terms, please sign and date each applicable document. Vestwell requires an executed copy of the PAA and all related amendment(s) and policies to establish or update your plan on our platform.

Here is a link to the complete and updated Plan Adoption Agreement Guide.