Services

SERVICES:

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.
  • When taking over an existing plan, we will review the existing plan provisions and recommend changes to meet the employer's goals and objectives.
  • Prepare plan documents as required by the IRS/DOL.
  • Prepare the request for an IRS determination letter, if applicable.
  • Prepare all necessary employee notifications that are required to be distributed to plan participants.

 

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.

Defined Benefit Plan Actuarial Services and Administration

Our team has the expertise and up-to-date technology to provide the necessary 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.
  • 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 reporting.

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), §401(a)(26)).
  • 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 filings (for defined benefit plans only).

Consulting Services

  • Plan design to maximize tax benefits.
  • 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.