How is 401k Secure® Administered?
The 401k Plan record-keeper will administer 401k Secure® as an additional investment option. Specifically, the record-keeper will:
- Calculate the premiums, based on covered plan contributions
- Deduct the premiums from appropriate trust accounts
- Forward the premiums to the insurance company
- Track insurance benefits as received by the plan trustee
- Provide detailed information to the participants' via plan statements
