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Grow your Grow your businessbusiness
Training agenda
Product features
Plan design
Investment line up
Sales process
Sponsor support and services
Commission
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Product Product featuresfeatures
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FutureStep® – workplace retirement solution
Positioned to meet the needs of growing small business market Owners understand importance of saving for their own retirement
Need help to make the connection for their business
Designed to provide Quick and easy online application and administration
Competitive fees
Top notch employee services
Leading funds
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Product features
FutureStep® product is a Group Registered Retirement Savings Plan (RRSP) and
includes the option to add a Deferred Profit Sharing Plan (DPSP).
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Benefits of adding a DPSP
Employer contributions allow employees to share in company profits
Employer wants greater control over company contributions (i.e., vesting) Unlike an RRSP, DPSP contributions are not considered taxable
income to the members until removed from the plan
DPSP contributions do not attract payroll tax
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RRSP and DPSP features
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RRSP and DPSP features
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RRSP and DPSP features
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RRSP and DPSP features
Immediate vesting, or
Plan designPlan design
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Employers may choose different rules for different employees for the RRSP and DPSP, for example
Management
Non management
Employers customize their plan design(s) Eligibility including waiting period
Contribution formula
Definition of earnings
Vesting rule for DPSP
Employers will have One contribution file per policy
One set of online reports per policy
Plan design options
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Completing the Plan Design Template
Work with the Plan Sponsor to complete the Plan Design Template
Reference materials available on Repsource: Plan Design Template Guide (PDF)
Plan Design Template (Word)
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FutureStep Fees
FutureStep Member Fees $75 member termination fee if assets transferred outside of GRS
$25 fee per in-service withdrawal
$10 duplicate tax receipt (available for free on member secure site)
FutureStep Sponsor Fees $25 per member discontinuance/plan termination fee with a policy
minimum of $225
$750 DPSP trustee fee charged to the plan sponsor if combined RRSP and DPSP annual cash flow is below the plan minimum of $20,000
Investment Investment fund line upfund line up
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Investment fund line up
Competitive investment management fees (IMF)
Employees choose their investments
One fund line up Managed by Manulife
Monitored by i-Watch®
Covered by Certified Diversified® warranty program
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Range of choices for all types of investors No touch - Retirement Date
Low touch - Asset Allocation
High touch - Selection of ‘build your own’ funds
Default fund Primary: Retirement Date
Secondary (if date of birth is missing): Moderate Asset Allocation Fund
Guaranteed Investment Options 1, 3, 5 year terms
Investment fund line up
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Target DateTarget Date
Manulife Retirement Date suite of funds (2020 – 2055) – 1.80%
Manulife Retirement Income Fund (2000) – 1.80%
Asset AllocationAsset Allocation
Manulife Asset Allocation suite of funds (2001 – 2005) – 1.75%
Fixed IncomeFixed Income
MLI Canadian Money Market (3132)– 1.47%
MLI PH&N Bond Fund (4271) – 1.70%
BalancedBalanced
MLI Leith Wheeler Diversified Pooled (5301) – 1.75%
MLI Fidelity Canadian Asset Allocation (5141) – 2.10%
Global EquityGlobal Equity
MLI Trimark Fund (8181) – 2.00%
MLI MFS MB Global Equity Fund (8161) – 1. 75%
Canadian Large Cap EquityCanadian Large Cap Equity
MLI Jarislowsky Fraser Canadian Equity (7241) – 1.70%
MLI Scheer Rowlett Canadian Equity Fund (7601) – 1.80%
MLI Greystone Canadian Equity Fund (7481) – 1.70%
MLI MFC Global Pooled Canadian Index (7132) – 1.48%
Canadian Small Cap EquityCanadian Small Cap Equity
MLI MMF Growth Opportunities (7122) – 1.90%
US EquityUS Equity
MLI U.S. Diversified Growth Equity (Wellington) (8196) – 1.95%
MLI MFC Global Pooled US Equity Index (8131) – 1.48%
International EquityInternational Equity
MLI International Equity (Templeton) (8192) – 2.05%
MLI BlackRock International Equity Index Fund (8321) – 1.60%
Gross rates of return as of September 2013
Investment fund line up
Completing Completing the the
eApplicationeApplication
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Easy set-up1. Complete the eApplication
Go to www.manulife.ca/futurestep to complete the eApplication
Application cannot be saved once started, so make sure you have all information before beginning by using the pre-application check list
2. Fax required documents to Manulife Financial Once the eApplication has been submitted a set of electronic plan documents is emailed
to the advisor and sponsor
Sponsor signs the application, pre-authorized debit form, and provides a copy of a void cheque
For DPSP, T2214, trustee agreement, and board resolution are also signed
Advisor signs application and the commission agreement
3. Welcome letter Once the plan is set up a Welcome letter is emailed to plan sponsor (which advisor is
copied on) with customer number and e-enroll access code.
Once the plan is active, a Welcome letter is mailed to the advisor
Completing the eApplication
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Completing the eApplication
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Completing the eApplication
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Completing the eApplication
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Completing the eApplication
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Completing the eApplication
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Completing the eApplication
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Completing the eApplication
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Completing the eApplication
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Completing the eApplication
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Completing the eApplication
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Hosting Hosting enrolment enrolment sessionssessions
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Enrolment support
Two options for providing member education Provide the online enrolment education video
Deliver a live enrolment presentation
Employee enrolment Online enrolment
Paper enrolment
Enrolment kits are provided to each employee
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Steps retirement program
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Ongoing member support
Annual member statement
Secure web site Steps Retirement Program®
Online transactions
1-800 Member Call Centre Monday to Friday from 8 a.m. to 8 p.m. ET
Transition Solutions team for employees leaving a group plan
Ongoing Ongoing sponsor sponsor
support and support and servicesservices
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Ongoing sponsor support
National Small Business Consultant Dedicated, proactive support for small-business employers
Webcast training to get you started
Plan administration guide
1-800 Plan Sponsor Call Centre
Secure sponsor website Newsletter and other resources
Online contributions using pre-authorized debit
CommissionCommission
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Commission options
Option 1Option 1 Option 2Option 2
Transfer Transfer commissioncommission
Asset-based Asset-based commissioncommission
Cash-flow Cash-flow commissioncommission
Transfer Transfer commissioncommission
Asset-based Asset-based commissioncommission
Cash-flow Cash-flow commissioncommission
Year 1Year 1 2.0% 3.0% 1.5% 1.5%
Year 2Year 2 2.0% 2.0% 1.5% 1.0%
Year 3Year 3 2.0% 0.30% 1.0% 1.5% 0.30% 0.75%
Year 4+Year 4+ 2.0% 0.30% 1.5% 0.30% 0.50%
Thank youThank you