Defined Contribution Plans

Defined Contribution Plan Recordkeeping and Administration

We perform the following services in order to provide smooth and efficient plan operation:

  • Profit Sharing Calculations.
  • Calculate employee eligibility and plan entry.
  • Calculate Vesting.
  • 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, as needed.
  • Loan processing: Set up of loan accounts, preparation of promissory note and amortization schedule and tracking loan repayments if needed.
  • Hardship withdrawal processing: Determination of hardship distribution amount and preparation of application forms.
  • Reconcile trust accounts.
  • Prepare customized participant statements, if applicable.
  • Monitor participants who are required to receive required minimum distributions.