Specifications include, but are not limited to: The Administrator shall perform all the following services which are normal to the administration of a self-administered Pension Plan: (a) To disburse the monthly benefit payments to all eligible retired participants and beneficiaries via check or Direct Deposit (b) To provide an online portal for W-4P Submissions, payment stubs, 1099R, Address changes, Direct Deposit Request, and update. (c) To disburse the monthly employee contribution withdrawals and maintain an account balance for such retired participants. (d) To provide Customer Service for Pensioners (e) To disburse lump sum Employee Contribution Withdrawals. (f) To disburse Burial Allowances. (g) To deposit the monthly withholdings to the applicable state and federal depositories. (h) To provide the PLAN with monthly cash disbursement journals. (i) To reconcile the bank statement monthly. (j) To prepare and file the quarterly state return (CT-941) and annual report to the federal government (945). (k) To prepare and mail to each recipient a 1099-R on a timely basis. (l) To provide the PLAN with 1099R statements. (m)To provide recipients with annual election forms (W-4P) for state and federal withholdings. (n) To provide the PLAN copies of all notices, filing, and reports automatically or provide portal for the PLAN to review and copy all documents.
