Professional Services at Affordable Prices.
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 complex. We 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. We will not take a one-size-fits-all approach to your retirement plan.
- If we are taking over a plan already in existence, we will review the existing plan provisions and recommend any changes that may better 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.
- Provide customized enrollment and administrative materials.
Defined Contribution Plan Recordkeeping and Administration
We perform the following services in order to provide smooth and efficient plan operation:
- Calculate employee eligibility and plan entry.
- Maintain participant vested percentage records.
- Submit contributions and loan payments for allocation to participants’ accounts; or, for clients who want to handle their own contribution submissions, we provide the tools and guidance.
- Determine eligibility for allocation of employer contributions and forfeitures.
- Allocate employer contributions.
- Allocate forfeitures, if applicable.
- Distribution processing: Calculation of distribution amount and preparation of required distribution forms and notices.
- Loan processing: Calculation of loan amount available, preparation of promissory note and amortization schedule, and track loan repayments.
- Hardship withdrawal processing: Determination of hardship distribution amount and preparation of application forms.
- Reconcile trust accounts.
- Monitor participants who are required to receive age 72 distributions.
- Point of contact: We are available to assist both employers and employee with their questions and concerns regarding their retirement plan.
“Knowledge . Experience . Service”
Annual Compliance Testing and Government Reporting
Our 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)).
- Discrimination testing (§401(a)(4)) General Test.
- ADP/ACP testing.
- Preparation of IRS Form 5500 and related schedules.
- Preparation of Summary Annual Report for participants.
Consulting Services
- Plan amendments, terminations, and mergers.
- Assist with IRS and DOL audits.
- Provide assistance with plan design changes.
- Assist with fiduciary responsibilities.