Elite Choice Administrative Services

With Elite Choice, you have no more administrative headaches! We handle all 457 (b) Deferred Compensation Plan administrative services including:

• Receiving submissions of completed distribution request forms directly from Plan participants
• Reviewing, determining eligibility and certifying requests for all distributions from the Plan listed below:
  • Loans
  • Unforeseeable Emergency Withdrawals
  • Small Account Balance In-Service Distributions
  • Qualified Domestic Relations Order Distributions
  • Separation From Service Distributions
  • Rollovers and Transfers
• Coordinating with TruSource for timely distribution and tax reporting
• Determining Maximum Allowable Contribution (MAC) limits for all participants
• Coordinating with District Payroll and TruSource for the correction of excess contributions
• Establishing and providing comprehensive administration and compliance procedures
• Establishing and maintaining compliant 457(b) Salary Reduction Agreement
• Monitoring legislative and compliance environment on a continual basis
• Consulting and advising the sponsor and participants when procedural modifications must occur to meet regulatory changes
• Assisting the sponsor in the event of an IRS audit

As an added benefit, if the Elite Choice 457(b) Plan is the sponsor's sole 457(b) provider, and at the sponsor's option, Envoy will provide at no additional expense to the sponsor, select administration and compliance services for the sponsor's 403(b) program and for the Elite Choice 457(b) Plan.