Our Services
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 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 itself.
- If we are taking over a plan already in existence, we will
review the existing plan provisions and recommend changes to fully
meet the employer's goals and objectives as well as a review to
ensure compliance with IRS and DOL regulations.
- Prepare plan documents as required by the IRS, if needed.
- Prepare the request for an IRS determination letter, if
applicable.
- Prepare the Summary Plan Description that is required to be
distributed to plan participants, if needed.
- Prepare customized enrollment and administrative materials.
- Conduct employee meetings to communicate the provisions of the
plan.
- Work as a team member with the employer's investment advisor and
accountant during the plan's implementation or conversion.
Defined Contribution Plan
Recordkeeping and Administration
We perform the services listed below in order to provide smooth and
efficient plan operation as frequently as quarterly for our full
service clients. In addition, we perform the services listed under the
category Annual Compliance Testing and Government Reporting for
clients using a daily valuation platform through our alliances with
various investment companies.
- Calculate employee eligibility and plan entry.
- Maintain participant vested percentage records.
- Process each payroll, allocating contributions and loan payments
according to the participant's investment elections.
- Process fund transfers in accordance with participant elections.
- Determine eligibility for allocation of employer contributions
and forfeitures.
- Allocate employer and employee contributions, including
cross-testing methods.
- 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.
- Loan processing: Set up of loan accounts, preparation of
promissory note and amortization schedule and tracking loan
repayments.
- Hardship withdrawal processing: Determination of hardship
distribution amount and preparation of application forms.
- Reconcile trust accounts.
- Prepare customized participant statements.
- Monitor participants who are required to receive age 70½
distributions.
- Administer recordkeeping as prescribed under PA Act 205.
Defined Benefit Plan Actuarial
Services and Administration
Our professional staff has the expertise and up-to-date technology
to provide the necessary actuarial 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.
- Prepare 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
Form 1099-R.
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)).
- Compensation testing (§414(s)).
- Nondiscrimination testing (§401(a)(4)).
- 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 form (for defined benefit plans
only).
- Act 205 filings and GASB compliance (municipal plans).
Consulting Services
- 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.
- Expert testimony in municipal pension arbitrations.
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