Simple, Straight-Forward Application Process
Step 1: Complete Employer Application
To set up your Springline Retirement Plan, go to The Springline Retirement Plan webpage and click the "Get Started" button on the top, right-hand side of the page.
You will then be asked to complete general information on your company, including Trade License, Tax or Registration Number, and whether you currently have a employer retirement plan in place. If you currently have a different plan in process, then you will be asked if you want to keep the same structure, i.e. Trust Deed, Trustees, etc., or adopt a new structure. Springline accepts both options!
On the next page you'll be asked to list the Directors of the company, as well as any Owners with 10% or more ownership. We require this information for regulatory purposes.
Step 2: Upload Documents
To complete your Springline Retirement Plan, you'll need to upload the following documents for compliance purposes (only one document per category is required):
Step 3: Select Flexible Elective Provisions
Next, you have the flexibility to select different elective provisions to tailor your plan to the objectives and culture of your company. These include:
Step 4: Automatically Enroll Employees
Once your application is complete and accepted, we will provide you with a link to electronically invite your eligible employees to participate in your plan.
We have designed the Springline Retirement Plan to be as easy as well possible in order to reduce the amount of time spent (and headache) on your part!
Monthly: Submit Contributions
Make One Deposit per Month for All Participants
The Springline Retirement Plan provides employers flexibility in determining how much the employer contributes on behalf of each employee, and if employees are required to make contributions. These pre-tax contributions are deducted prior to Payroll Tax, and therefore reduce the tax basis for calculating Employer and Employee Payroll Taxes.
Once remittance amounts are calculated for each employee, the employer should deduct employee contributions from each paycheck and deliver a cheque, and Bank Deposit Slip, for the total amount calculated on the Contribution Input Form for the period.
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