AUGUST 2008 Pension Plan tip of the month...

The Paragon Alliance Group, LLC

Technology/ Website Update

In today’s business climate and with increasing federal and state regulations, data security is more important than ever.  In speaking with our clients, they have informed us of their concerns regarding protecting information privacy.  The Paragon Alliance Group, LLC (“Paragon”) has recently implemented an easy, secure way for you to transmit employee census data and other sensitive information to us.  During the year, Paragon will also use this system to send reports to you. This process is as simple as attaching a file to an email.  However, unlike email, by utilizing this new system, SecureFileX, the file is transmitted via a secure server which encrypts sensitive data and protects the privacy of this information.

SecureFileX is a secure method of transferring files.  It is not meant to be a browser for viewing files or for storing files.  The files will be automatically deleted from their secure server within 7-14 days.  The most efficient method of utilizing this file exchange system is to download the file to your computer when you are notified of its arrival.  Once you are sure that the download is successful, you are able to manually delete the file from the server.

Over the next few months, as needed, you will receive an email message notifying you that your SecureFileX account has been set up and asking you to activate your account by creating your password.  Our goal is that by the end of the year all clients will be set up and all sensitive data requests will be sent this way. After you create your password, you will be taken to the login page (https://tpagroup.securefilex.com).  For easy access, you may want to save this login page in your web browser’s “Favorites” or on your desk top.  For enhanced security, only you will know your password.  If you forget it, the login page contains a link where you can request a password reset.

We invite you to access our website at www.tpagroup.com.  In keeping with our commitment to keeping our clients informed, Paragon continually updates the site with information relating to law changes as well as general administrative tips.  Please visit the What’s New tab of the website for additional information on newly introduced provisions such as the Roth 401(k) and legislative enhancements designed to encourage the use of Automatic Enrollment.

Also, please click on the What's New tab to see an archive of our past Tips of the Month.  We have updated this Tip History section to include a description of each tip for easier identification. 

The Forms and Info section of our website provides the ability to download a copy of the Special Tax Notice required for participant distributions, view the 2008 maximum benefit and contribution limits, and identify the list of permissible hardship distribution reasons. The Compliance Calendar lists important IRS filing deadlines and due dates and the Frequently Asked Questions section highlights everyday issues.

Please take some time to view our website as it is full of information that we hope you will find beneficial and timely.  Feel free to ask us a question under the Q&A Forum on our home page. We hope that you visit often!