Defined Benefit Administration Services

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Table of ContentsPension Plan 3

About Findley 4

Our Services 5

Defined Benefit Administration Services 6

State-of-the-Art Technology 7

Participant & Plan Sponsor Tools 8

Proven Implementation & Conversion Process 10

Plan Sponsor Role 11

Fees 11

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Your pension plan has changed considerably in recent years.

You need a pension administration strategy that is cost-effective, minimizes your time commitment, and controls your error and compliance risk.

Your employees need access to their pension information when they need it so they can be in control of their retirement planning.

Reward longevity

Attract and retain employees

Provide retirement security

Today’s retirement plan actions include:

Historical retirement strategy objectives:

Hard freezing

Soft freezing

De-risking strategies

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Findley is different from other firms that offer pension administration services.

The Findley Difference

Independent fee-based serviceWe do not accept commissions and are not tied to any products. We are objective advisors who partner with our clients.

Retirement plan depth of expertise Over 70% of our firm business comes from retirement plan services. We recently invested in our pension administration services through a state-of-the-art technology upgrade.

ValueWe are a privately held company with all shareholders active in the business. Our business model does not include the overhead of our competitors resulting in lower professional fees for you.

Our objective as your consultant is to build an enduring partnership that grows in value year after year. We take the time to get to know your organization – how it operates, and its unique situation, requirements, and people. We then work as a team with your staff to tailor our services to your organization’s needs.

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Since our founding in 1969, Findley has been owned and led by a group of senior consultants. Our consultants are accomplished professionals with proven track records in human resources management, HR technology, ERISA and tax law, accounting, actuarial science, insurance, and communications. Through collaboration and knowledge sharing, our inter-disciplinary team of experienced consultants develop solutions to your complex issues.

ActuarialYou are compelled to evaluate your retirement programs to ensure cost efficiency and competitiveness, while providing benefits in line with your HR philosophy. Our team of actuaries help you provide financial security for your employees in their retirement years, attract and retain quality employees, and have peace of mind knowing your plan is being operated in compliance with applicable rules and regulations.

Change ManagementWith an emphasis on creating long-term behavior and culture change, our solutions help you achieve business objectives while attracting and retaining key talent.

Compensation & RewardsOur solutions help you align pay and rewards with business objectives and core values, helping attract, motivate, and retain key talent. We listen to you and provide guidance on important business decisions regarding salary management, annual and long-term incentive pay, equity-based plans, nonqualified deferred compensation, and executive-only benefits.

Defined Benefit AdministrationWe use proprietary technology, retirement benefit expertise, and proven processes and procedures to completely automate pension plan management. Our pension administration services offer you comfort in knowing your defined benefit pension plans are compliant with complex rules and regulations while managing risk and legal exposure and providing an excellent experience for participants.

Defined Contribution Administration & RecordkeepingWe provide worry free recordkeeping and administration services to help you manage the risk associated with defined contribution retirement plan regulatory compliance and to free up time for your team to focus on other priorities.

Health & Group BenefitsWe provide creative, yet practical, advice on the design, funding, and administration of benefit programs. Our strategic consultants assist you to align your workforce strategy with the employee value proposition. As a result, we maximize your buying power and financial performance through delivery of data-driven solutions.

Retirement Plan DesignOur retirement plan solutions help you design plans that provide meaningful retirement benefits to your employees while supporting the organization's financial strategies and complying with government regulations.

At a time when doing more with less is the new normal, we provide advice and administrative power as a true extension of your team.

Our Services

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Defined Benefit Administration Our pension administration services offer you comfort in knowing your defined benefit pension plans comply with complex rules and regulations, manage risk and legal exposure for your organization, and provide an excellent experience for participants.

Experience with administering all types of defined benefit plans

Findley makes managing your company’s retirement program easy by handling your administrative, trustee, employee communication, and education responsibilities using proprietary technology, retirement benefit expertise, and proven processes and procedures. We completely automate pension plan management.

Tap into Findley’sdeep expertise and proven results.

Final Average Pay Cash Balance Pension EquityFlat Rate Hard Freeze Soft FreezeCollectively Bargained

Grandfathered Groups Plan AcquisitionsPlan Divestitures

Plan-to-Plan Transfers

Church Plans

Nonqualified Plans

End-to-end outsourced pension administration services

Benefit Calculations Status ChangesAnnual Statements In-service DistributionsBenefit Estimates Eligibility DeterminationActuarial Extract Required MinimumsRetirement Processing Call CenterQDRO Services Suspension of BenefitsTermination Processing Document ImagingQDRO Splits Income VerificationDisability Retirements Participant InquiriesEmployment History Retiree SupportSurvivor Processing Secure WebsiteCompensation History Rollover DistributionsDatabase Maintenance Real-time ModelingHours History Automatic DistributionsPayroll Updates Retirement PlanningBeneficiary Information Trust ReconciliationTrust Coordination Participant ResearchAdministration Manuals Standard ReportsCustomized Reporting Ad-hoc ReportingQualification Rules Legislative UpdatesDistribution Approvals Phased Retirement

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Our pension administration system is a proprietary system developed by Findley. It is based on Microsoft.NET programming for the calculation and rules-based systems. Data is stored on a Microsoft SQL server which includes state-of-the-art call center cloud technology. We ensure extensive support to maintain and update this system to conform to client demands and regulation requirements.

The pension administration system, website, and call center are completely integrated, offering "real-time" information to participants, which simply means they view up-to-date information, as opposed to information that is "batch processed."

Your Findley TeamOur primary goal is to serve you and your employees' needs, exceeding your expectations. Your team is supported by experienced account executives, compliance experts, technology consultants, and pension actuaries who all have deep defined benefit administration expertise. This team has access to all of our firm's consulting service areas and expertise to ensure the highest quality of service.

Reliable • Responsible • ResultsIn order to ensure the integrity and security of client data entrusted to us and to provide uninterrupted processing, Findley has developed the following system of controls:• Full system, processing and hardware backup• Physical security• Contingency plan• Disaster recovery• Annual SSAE 16 SOC1 Type II Audit• External vulnerability/penetration assessment• Web application assessment

User ExperienceFindley's administration services are designed to provide you and your employees with access to pension plan information when it is needed most.

Our administration system, Retirement Focus™, utilizes both call center and secure website access for your employees to obtain information on their pension plan. It also utilizes plan sponsor reporting capabilities to access data and trends on your pension plan.

Compliance Communications Findley Leadership

Project Management

Technology Actuaries

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StatementsFindley communications solutions help you maximize your investment in employee benefits through effective customized communication. We provide customized and standard benefit statements to your employees that illustrate their current retirement benefits and whether or not they are “on-track” for retirement financial security.

Participants

Call CenterTrained call center representatives are available from 8:00 a.m. to 8:00 p.m. (EST) Monday through Friday to answer participant questions or initiate requests. Our team receives continual training on your plans and participant needs as well as changing legal requirements and trends in company provided retirement plans.

84% first call resolution

90% calls answered within 40 seconds

96% cases completed within 2 days

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WebsiteWe know that planning for retirement can be tedious and sometimes overwhelming. To help, we have designed our Retirement Focus™ secure website that gives your plan participants access to benefit information, modeling tools, plan information, and important documents.

Plan SponsorsAs a plan sponsor, you need access to data on plan participants, statistics on call center and website usage, and trends in participant behavior. Our secure plan sponsor website provides access to standard and customized reports to put this information at your fingertips.

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The defined benefit administration practice leader, consultant, and conversion specialist, as well as those responsible for the daily management of your plan will be dedicated to your plan through transition completion.

We see ourselves as the manager of the conversion process, which is extremely critical. You can count on us to manage the conversion process and involve you and your staff in the day-to-day management only to the extent you would like to be involved, allowing you to focus on other key aspects of your business. We focus on making sure that everyone involved understands their responsibilities and is working effectively together to complete the task at hand in a timely and efficient manner.

We estimate the implementation will take on average four months to complete. This can vary based on the availability and quality of historical participant data.

ImplementationThrough effective project management, your Findley project team ensures tasks are completed on time, communication with both you and your internal project team and participants is handled with precision, and there is continuity in your program with nothing getting lost in the translation.

Defined Benefit Implementation ScheduleMonth 1

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Findley is committed to a smooth implementation of all plans that we manage.

Pre-implementation• Provide plan documents, SPD, actuarial reports and filings,

and various sample calculations• Assign ongoing Account Managers

Weeks 1 – 3• Conduct implementation planning meeting• Review of plan document and provisions• Discuss administration manuals and plan highlights• Establish status call schedules

Weeks 4 – 6• Deliver conversion data• Walk through payroll specifications and timing• Sign/approve administration manual and plan highlights• Execute DB plan system setup upon review of sample calculations

Weeks 7 – 9• Review/load conversion data• Program payroll loading specifications• Develop test plans for DB plan system

Weeks 10 – 12• Finalize missing data• Sign required trust/custodial agreements (if applicable)• Deliver test payroll files• Execute test plans for DB plan system• Document and track events in transition

Weeks 13 – 15• Conduct system training with DB call center• Transfer trust assets (if applicable)• Set-up plan sponsor access and schedule training• Go live with payroll and reconcile YTD data• Distribute targeted communications

Weeks 16 – 17• Go live - call center, benefit packets, website, etc.• Ongoing• Provide administration manual, plan highlights, and plan document clarifications

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Historical Data. We anticipate this can come from multiple sources such as legacy administration systems, payroll, HRIS, and actuarial extracts. We integrate this data and perform standard and customized data edit checks to ensure conversion data quality.

Documentation. We ask for all legal plan documents, participant communications, and legacy sample calculations. These pieces of information are used to document the administrative processes and procedures for your pension plan.

Approval of Administrative Manual. We ask for approval that our documented administrative processes and procedures meet your fiduciary requirements. Once approved, we develop our administrative platform according to this documented administrative manual.

Approval of Test Plan. We present to you the results of our detailed test plan which tests all aspects of our administrative manual. With your approval of the test plan results, we are ready to begin administering your plan.

Your RoleDuring the implementation, we will need your assistance in collecting:

Implementation TeamYour Findley implementation team is also the team that will administer your plan. We structure our team this way to ensure continuity between implementation and administration. The administration team retains the knowledge gained during the implementation which means fewer hours are required by you in transferring detailed plan and administration knowledge.In some situations, aspects of the implementation extend beyond the go-live date such as a unique process that impacts a small subset of participants or an existing process that requires a small adjustment to improve the participant experience. Your Findley administration team can make these modifications because they also implemented your plan.

FeesFindley's defined benefit administration service is billed on a fee-for-service basis. We do not sell any products nor do we receive revenue or sales commissions from others. Administration Services. Once live, our fees are based on a per participant per month charge. This fee covers all administrative services and does not adjust based on transaction volume.Implementation Services. We do not charge for implementation services.

To learn more about Findley and our defined benefit administration services, visit our website at www.findley.com or contact:

Mark OhnstedFindley475 N. Martingale Road, Suite 900Schaumburg, Illinois 60173847.592.6646 mark.ohnsted@findley.com

This document is furnished by Findley to provide general information about the company and its HR, actuarial, and employee benefit consulting services. Findley is a human resource, actuarial, and employee benefit consulting firm which provides actuarial and employee benefit services to clients. Findley does not practice law or accounting and does not provide legal or tax advice. Legal issues concerning your employee benefit plans should be discussed with your legal counsel.

© 2018 Findley. All Rights Reserved.