Retirement Plan Design SetUp A tradition of excellence

Retirement Plan Design & Set-Up A tradition of excellence spanning half a century.

Approval of Proposal and Administrative Costs Discussion of Basic Provisions of Plan Policy Documentation of Retirement Plan Policy (Plan Design and Documentation) CLIENT & MCG 1 week 1 day 2 days BIR Filing for Tax Exemption Execute Trust Agreement between Trustee Bank and Company MCG CLIENT & TRUSTEE BANK 2 weeks* 2 weeks Actuarial (Funding) Valuation MCG 5 days from data completion Approval of Proposal and Administrative Costs CLIENT 1 week *Approval from BIR may take 6 mos to 2 yrs

Requisites Under Revenue Regulations No. 1 -68 Ø Written retirement program Ø Permanent and Continuing Ø Coverage • Percentage basis • Classification basis Ø Contribution Ø Impossibility of diversion Ø Non-discriminatory Ø Non-forfeitable rights Ø Forfeitures must be used to reduce employer’s contributions Ø Administered by a trust tradition of excellence half a century. A tradition of. Aexcellence spanning half a century.

Funding Vehicle v Self-Funded v Trustee Bank v Insurance Company tradition of excellence half a century. A tradition of. Aexcellence spanning half a century.

BIR Requirements • • • Signed Retirement Plan Rules and Regulations Accomplished BIR Form 17. 60 Actuarial Valuation (1 year validity) Trust Agreement with Trustee Bank TIN of the Fund tradition of excellence half a century. A tradition of. Aexcellence spanning half a century.

Manila Head Office Cebu Satellite Office 20 th Floor, Fort Legend Tower 3 rd Avenue corner 31 st Street Fort Bonifacio, Global City Taguig City, Philippines 1 tth Floor Apple One-Equicom Tower, Cebu Business Park, Cebu City, Philippines +63 2 856 7132 +63 2 856 7118 +63 2 856 7169 info@MCGravite. com http: //www. MCGravite. com tradition of excellence half a century. A tradition of. Aexcellence spanning half a century.