Q: When is the setup fee collected?
The setup fee is collected when your plan design is finalized.
Q: Why is my first invoice higher than expected?
Your first invoice brings billing current for the calendar year and includes the next quarter in advance. After this, invoices reflect quarterly fees and any one-time fees for services you requested and authorized.
Here's what it includes:
Plan Year Fee
Catch-up billing for all quarters from when your plan started through the current billing quarter
One quarter billed in advance
Employee Fee billed at ¼ of the annual rate per quarter based on the headcount from recordkeeper census datafeeds received by Aboon
Asset Fee based on the value of plan assets at the end of preceding quarter
Any one-time fees - for example, USPS costs for disclosures mailed to your employees when their email address is invalid
Q: Why am I paying for the whole calendar year if I became a client mid-year?
Plan compliance and reporting operate on a calendar-year basis. That means we work within the full year's scope and with the full year's data, even when you join mid-year. The fees reflect that full-year scope.
Q: How does billing work after the first invoice?
After your first invoice, each quarter, you'll receive an invoice that includes:
Plan Year Fee for the upcoming quarter (billed in advance)
Employee Fee for the prior quarter (billed in arrears, based on headcount at quarter-end)
Asset Fee for the prior quarter (billed in arrears, based on plan assets at quarter-end)
Q: When will I receive my first invoice?
Your first invoice is sent at the beginning of the quarter following your plan becoming active.
For example, if your plan becomes active in November, your first invoice will arrive in January.
Q: What's included on my first invoice if I started my plan in Q2?
If you started in Q2 (April–June), your first invoice in July includes:
Plan Year Fee for Q1, Q2, and Q3
Employee Fee for Q2
Asset Fee based on plan assets at the end of Q2
Q: How do I pay my invoice?
Use the Pay This Invoice button in your invoice email. You can pay by debit card, credit card, or ACH transfer.
Q: Who can I contact if I have questions about my invoice?
Reply to the invoice email or email [email protected]. We're here to walk through any line items and make sure everything is clear.
Q: What are one-time fees, and when are they billed?
One-time fees are for services rendered outside the standard included services. They include:
Participant-paid fees (deducted from plan assets) are for things like loans and distributions
You may choose to pay these fees directly instead
Employer-paid fees are for one-time services listed in our fee schedule or project-based work covered under a Statement of Work, in either case as requested and authorized by you
Employer-paid one-time fees are added to quarterly invoices based on work performed during the prior quarter.