Principal
Who is the Chairman, President, and CEO?
Dan Houston
What is the IRS deadline for failed compliance test refunds on plans with a 1/1 plan year?
March 15th
What are the four-letter codes used in Sessions/Mainframe called?
Verbs
What is the deadline to file Form 5500 for a plan that has a 1/1 plan year?
July 31st
What are the three types of service requirements a plan may require for entry?
Hours, Elapsed time, and Immediate
What is the RIS motto?
Save enough, protect enough, and have enough
Key employees must own less than ____ % of plan assets for a plan to pass top heavy testing.
60%
What level of RIS do you use to find what industry a company is coded as being in?
Plan level
What form is filed to extend the filing deadline 2.5 months?
Form 5558
Which of the following would not be considered a benefit event for a qualified plan?
A contract termination, a plan termination, and retire - continue to work
A contract termination
What year was Principal founded?
1879
What test is run when a plan fails the Ratio Percentage/Minimum Coverage Test?
Average Benefit Test
What steps do you take to find if 3(38) is active?
RIS Systems -> Contract -> Services -> Service Selection -> Other Services
At what point is an untimely contribution removed from Schedule H?
The plan year after it was corrected (lost earnings have been submitted)
How long after hire does a participant have to make an online account before a temporary lock is placed?
A year
What was the company name of Principal Financial Group when it was founded?
Bankers Life Association
What is the form that must be filed if compliance refunds are sent out after the deadline?
Form 5330
What types of communication should be logged in Salesforce?
ALL external communication
What three things determine the amount a participant can take for a loan?
1. IRS limit of $50,000
2. Half of your vested account balance
3. Highest outstanding loan balance in the last 12 months
What are the four Principal core values?
Start with the customer, do what’s right, own what’s next, and invest for our future
What is the Express request subtype number for the following: “Balancing Recordkeeping to Accounting”
190101