Our Services

Customized Plan Design/Existing Plan Enhancement

We take time at the beginning of every engagement to understand the primary objectives of the organization for sponsoring a retirement plan. We find that in some cases, the main objective is to provide an employee benefit that will support the employees in their pursuit of a dignified retirement. In other cases, the impetus for implementing a plan is to defer taxes for the key employees in the business. Each objective is valid but will dictate quite different plan design provisions. We want to make sure that the plan provisions are aligned with the objectives of the plan sponsor.

 

Controlled Group/Affiliated Service Group Determination

Often times, we have found that TPAs and Recordkeepers implementing retirement plans for companies fail to ask the appropriate questions to determine whether or not there are any related businesses which can create substantial problems for the business owners. The controlled group and affiliated group regulations are cumbersome and often do not make logical sense, but unfortunately, they must be followed. Our objective is to make sure that if there are any issues they are dealt with before a plan is implemented or a merger takes place, so that there are no unpleasant surprises for the business owners down the road.

 

Plan Administration

We work closely with each client to meet their needs where they are rather than trying to conform our clients to a specific model that works easily for us. Our approach is to provide the education at the beginning of each relationship, so that our clients understand why we are asking for specific data and know where to get the data being requested. Our intention is to relieve the burden on our clients of sponsoring a retirement plan, but at that same time keeping them informed on their responsibilities.

Plan administration is a continual process. Our services include the following:

  • Keeping the plan document in compliance with regulatory changes as well as any requested plan design changes

  • Assisting with day-to-day questions and concerns which arise from both participants and our clients

  • Monitoring plan operations to ensure that our clients are in compliance with the rules and regulations governing retirement plans

  • Eligibility and vesting tracking

  • Contribution calculations

  • Performing all required compliance testing

  • Preparing signature-ready Forms 5500 and other required filings

  • Consulting on ongoing issues that arise throughout the life of the plan

  • Identifying issues of concern and providing solutions