AnnualAdministration
Plan Design
- Compliance review – verify that your current service provider is meeting all compliance requirements. Confirm that your plan is operating in compliance with the plan document provisions and is audit-ready.
- Plan documents – draft pre-approved documents setting forth all operational guidelines and provisions of the plan. Prepare amendments as requested.
- Design review – evaluate current plan for opportunities to fine-tune for your company’s goals and benefit objectives. Present options for design alternatives.
Annual Administration
- Gather year-end data, contributions and year-end balances
- Calculate annual company contribution
- Calculate annual company contribution
- Calculate and apply any forfeitures
- Prepare annual valuation report for trustees
- Determine eligibility and vesting
- Determine eligibility and vesting
- Calculate and apply any forfeitures
- Perform all required non-discrimination testing
- Prepare Form 5500 and all related schedules, including Summary
Support Services
- Provide a secure plan portal for access to all plan documents
- Participant loans and loan consolidation – calculate available loan amount, prepare note and amortization schedule
- Hardship distributions – assist with determination of availability
- Qualified Domestic Relations Orders – verify qualification of court order
- Automated Distribution Management - Terminated participant payout – prepare paperwork, tax disclosure and payout tracking
- In-service distributions – prepare paperwork, tax disclosure and payout tracking
- Required Minimum Distributions – determine eligibility annually, prepare notice, calculate minimum amount and track payout
- Audit Assistance – As required to prepare for IRS or DOL audit
Other Services
- Voluntary Compliance Program Filing - Assist with preparation of filing for corrections programs.
- Plan Termination - Prepare all necessary reporting and filings, calculate final allocation and prepare distribution forms for final payout to participants.
