Our Services
Because we are a full service consulting and
administration firm, partnering with us ensures that
the needs of you and your employees will be met. We
offer a full range of retirement plan services. Click
below for details of the services provided.
Plan Design and
Implementation
Selecting, customizing and implementing a plan can
be a complex process. Our professional staff will
guide you through each step of the process including:
- Review the employer's controlled group and/or
affiliated service group situation.
- Design a plan tailored to meet the needs of the
owners, employees and the business itself.
- If we are taking over a plan already in
existence, we will review the existing plan
provisions and recommend changes to fully meet the
employer's goals and objectives.
- Prepare plan documents as required by the IRS.
- Prepare the request for an IRS determination
letter, if applicable.
- Prepare the Summary Plan Description that is
required to be distributed to plan participants.
- Prepare customized enrollment and administrative
materials.
- Conduct employee meetings to communicate the
provisions of the plan.
Defined
Contribution Plan Recordkeeping and Administration
We perform the following services in
order to provide for smooth and efficient plan
operation:
-
Calculate employee eligibility and
plan entry.
-
Maintain participant vested
percentage records.
-
Process each payroll, allocating
contributions and loan payments according to the
participant's investment elections.
-
Process fund transfers in accordance
with participant elections.
-
Determine eligibility for allocation
of employer contributions and forfeitures.
-
Allocate employer and employee
contributions.
-
Allocate plan earnings.
-
Allocate forfeitures, if applicable.
-
Distribution processing: Calculation
of distribution amount, preparation of required
distribution notices, release forms and IRS Form
1099-R.
-
Loan processing: Set up of loan
accounts, preparation of promissory note and
amortization schedule and tracking loan repayments.
-
Hardship withdrawal processing:
Determination of hardship distribution amount and
preparation of application forms.
-
Reconcile trust accounts.
-
Prepare customized participant
statements.
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Monitor participants who are
required to receive age 70½ distributions.
Defined Benefit
Plan Actuarial Services and Administration
Our professional staff has the expertise and
up-to-date technology to provide the necessary
actuarial and administrative assistance to manage your
defined benefit plan:
- Calculate employee eligibility and plan entry.
- Maintain participant vested percentage records.
- Determine eligibility to receive benefit
accrual.
- Prepare annual actuarial report and
certification.
- Actuarial determination of required employer
contributions.
- Preparation of individual benefit statements.
- Distribution processing: Calculation of
distribution amount, preparation of required
distribution notices, release forms and IRS Form
1099-R.
Annual
Compliance Testing and Government Reporting
Our professional staff has the knowledge and
expertise to help keep your retirement plan in
compliance with federal laws and regulations and,
should violations occur, provide you with methods of
correction. We provide the following services, if
applicable:
- Contribution deductibility calculations (§404).
- Annual additions testing (§415).
- Top heavy testing (§416).
- Coverage testing (§410(b)).
- ADP/ACP testing (applicable to 401(k) plans).
- Preparation of IRS Form 5500 and related
schedules.
- Preparation of Summary Annual Report for
participants.
- Preparation of appropriate PBGC form (for
defined benefit plans only).
Consulting
Services
- Plan amendments, terminations and mergers.
- Assist with IRS and DOL audits.
- Provide assistance with plan design changes.
- Conduct special plan or participant benefit
studies or projections.
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