Edward Jones’ Firm-held Plans Are Moving to Preferred Recordkeeping Vendors in 2016

Need help? The Plan Transition Program makes moving your client accounts easy.



Benefits to participants

Vendors offer state-of-the-art tools and support that focus on maximizing retirement outcomes for participants.

Benefits to plan sponsors

Vendor systems make it easier to satisfy plan sponsor’s increasing fiduciary obligations regarding reviewing, disclosing and monitoring fees and other decisions affecting the plan.

Important dates

July 1: Decision deadline date.

    • Select new vendor.
    • Notify Benetech of vendor selection and target deferral start date with new endor.

Sept. 30: Transition start date for meeting transition completion deadline of Dec. 31, 2016.

Dec. 31: The move to preferred vendors should be completed by all Firm-held plans.

Preferred recordkeepers partnering with Benetech

  • American Funds
  • John Hancock
  • MassMutual
  • OneAmerica
  • Principal Financial
  • Transamerica


  • Extensive experience with Edward Jones advisors, Firm-held plans and preferred vendors
  • National firm with excellent service and competitive administration costs

A 5-Step Streamlined Process

Here are the steps involved in moving an existing Edward Jones firm-held plan to one of the preferred vendors within the established deadline:


DONE – Transition Complete

Benetech is committed to assisting Edward Jones financial advisors in making this transition process as smooth and efficient as possible.


Vendor selection decision for Sept. 30 transition start date


Transition start date for meeting Dec. 31 transition deadline


Revised deadline for moving all firm-held plans to preferred vendor

Request a free transition timeline

To receive a free, no-obligation transition timeline and quote, please email us at proposals@benetechinc.com, visit our website (www.benetechinc.com/EJ) or visit JonesLink WEB117939.

The Edward Jones Plan Transition Program

Frequently Asked Questions

Why is Edward Jones transitioning Firm-held plans to outside recordkeepers?

Edward Jones has determined that in the current regulatory environment, the potential liabilities associated with administering these plan accounts create an unacceptable level of business risk for the plan sponsors.

How will the Transition Program benefit an Edward Jones financial advisor?

By partnering with a preferred vendor and TPA, your servicing of former rm-held plans becomes simpler. The vendor and TPA can assume many of the branch-level responsibilities of administering these accounts and can serve as allies for future sales. Furthermore, a TPA is able to efficiently serve plans of all sizes, thereby allowing the advisor to easily scale his or her plan business.

What is the primary Benetech to participants of moving to a recordkeeping vendor?

Vendors have invested heavily in easy-to-use, automated tools so that participants may now determine what their retirement savings goals should be, track their progress towards those goals, and easily make adjustments to their savings rates to stay on track.

What is the primary Benetech to plan sponsors of moving to a recordkeeping vendor?

Plan sponsors have a fiduciary responsibility to disclose to participants detailed information about plan fees and other factors, and must have a formal process for monitoring them. Vendors have new technology that helps plan sponsors not only satisfy these requirements, but document what they’ve done to satisfy them.

What will the vendor require from the financial advisor to get a recordkeeping quote?

  • Number of participants and account balances
  • Estimated annual total plan contributions
  • Total current plan assets

What items are required to complete the transition to the new vendor?

  • Census-level information for each employee
  • A signed copy of the plan’s adoption agreement
  • The vendor’s account application, including the plan’s fund lineup
  • Participant valuation report (showing total deferrals, matches, etc.), as of 12/31/2015
  • Participant valuation report as of the date current assets are moved to the new vendor accounts


What are the steps for completing a transition?

  1. Work with a TPA to complete 2015 administrative functions.
  2. Participant accounts are established at the vendor to accept new deferrals deposits, approximately 4 to 6 weeks from receipt of properly completed applications.
  3. A blackout notice is distributed to participants 30 days prior to the transfer of existing assets. During the blackout period, participants are not able to make transactions in the plan. (However, the employer will continue to process salary deferrals.)
  4. A “mid-year” participant accounting is prepared to ensure that transferred assets are properly reinvested. This step takes 2 to 4 weeks following the start of the blackout period, assuming the 12/31/2015 participant valuation already has been received in good order.
  5. Assets are reinvested with new recordkeeping vendor.

Why is a “mid-year accounting” required?

A plan recordkeeper not only must inform participants
of the total amount in their account, but also track how much in each account is comprised of salary deferrals, matching contributions, safe harbor contributions, pro t sharing contributions, Roth deferrals, etc. Different contribution types may be subject to different distribution restrictions, vesting requirements and taxation on those contributions upon distribution.

For this reason, the vendor will require that a report
for the total amount for each contribution type as of the date of the transfer be provided before it can accurately reinvest each participant’s transferred assets.

Why is Edward Jones transitioning firm-held plans to preferred recordkeepers?

For a more detailed rationale, visit WEB5034093 on JonesLink.

Why choose Benetech?

Benetech’s national team of internal and external sales consultants have extensive experience with Edward Jones rm-held plans as well as with their approved recordkeeping vendors. These advantages, coupled with our competitive costs, make us uniquely suited to assist you and your client with this transition.

Small-Business Specialists

Established in 1974, Benetech is one of the nation’s largest independent actuarial consulting and plan administration rms. Our focus on customized plan design and administration allows us to work as a team with top advisors to bring high quality services to small and medium-size businesses.