In the second stage – Establishing – business owners undertake actions to put in place the chosen retirement plan. Depending on the type of plan an employer establishes, this stage can have a range of administrative steps.

These steps may include:

• Arranging a fund for the plan’s assets,
• Adopting a written plan,
• Notifying eligible employees, and
• Developing a record-keeping system.

A plan’s assets must be held in trust to ensure that the assets are used to benefit the participants and their beneficiaries and not used for other purposes.

• IRA Online Resource Guide
  See "Information About IRA-Funded Plans" for steps on establishing IRAs for SEP and SIMPLE IRA plans.
  
  
• Understanding Retirement Plan Fees And Expenses
  This Department of Labor booklet will help you better understand and evaluate your plan’s fees and expenses.
  
  
• A Look at 401(k) Plan Fees
  Answers to some common questions about the fees and expenses that may be paid by your 401(k) plan from the Department of Labor.
  
  
• 401(k) Plan Fees Disclosure Tool
  A Department of Labor form that provides employers with a handy way to make cost-effective decisions and compare the investment fees and administrative costs of competing providers of plan services.

Plans must be in writing and contain certain specified information that lays out how the plan works. You have flexibility in selecting your plan’s features, such as, who is included and when, who contributes and how much, etc.

• EP Determination Letter Resource Guide
  In response to the results of customer satisfaction surveys, the EP Determinations function has developed a user guide to help customers navigate the EP determination letter process. This guide will clarify the various steps in this process and will introduce our customers to resources that are available on the Retirement Plans Community web site.
  
  
• List of Master and Prototype (M&P) and Volume Submitter (VS) Plans
  A listing of M&P and VS plans that were submitted to the Service for EGTRRA opinion or advisory letters.
  
  
• Alert Guidelines, Explanations & Plan Deficiency Paragraphs
  Forms and documents used by EP specialists during their review of retirement plans.
  
  
• Recurring Plan Issues Found in Determination Case Review
  Frequently recurring defects found that may delay case closure.
  
  
• Tips for Expediting the Determination Letter Process
  Tips that can assist in accelerating the application process.
  
  
• Listing of Required Modifications
  A collection of information packages designed to assist sponsors who are drafting or re-drafting plans to conform with applicable laws and regulations.
  
  
• EP CPE Texts
  A series of articles published by the Service as the Employee Plans Continuing Professional Technical Instruction Program.

Once you set up the plan, you want your employees to participate.  You need to notify those employees meeting the eligibility requirements specified in your plan document – such as having worked at your company for a certain length of time.

• What You Should Know About Your Retirement Plan
  A Department of Labor overview of the information a plan is required to disclose to employees and participants.

A record-keeping system is important in keeping track of the flow of money - such as the contributions and earnings in participants’ individual accounts, payments for services from plan assets, and distributions of benefits.

• Forms useful in establishing a retirement plan.
  
  
• Publications useful in establishing a retirement plan.

• Retirement Plans Frequently Asked Questions (FAQs)
  General information about subjects of interest to retirement plans.