Plan Administration

Our administrative services are offered only to plans for the smaller employer (500 or fewer employees). We provide: timely delivery of the information desired by plan participants and sponsors; proactive attention to tax and labor compliance issues; and, ongoing efforts to find creative opportunities in plan administration. 

Key Concepts in Choosing Plan
Administrative Services

We work with a large variety of benefit plans, and tailor services to the wishes and needs of our client. The following is illustrative, however, of the administrative services we customarily provide:

  • Reporting. Meet IRS and DOL filing requirements, including the 5500 series of Annual Return/Report and associated schedules, forms 1096, and others.

  • Disclosure. Prepare participant communications, including account statements, Summary Annual Reports, participant elections and distribution notices.

  • Record-keeping/Accounting.

    • Plan Asset Accounting. Analysis of asset and investment data for the purpose of determining the income, gain or loss to be allocated among participants for the plan year; verification of timeliness of plan contributions, and determination of employer contribution liability as of the close of the plan year; reconciliation of plan allocations to plan asset valuations.

    • Plan Allocations. Allocations of all plan income or loss, forfeitures, and contributions in accordance with plan provisions;  preparation of reports reflecting all allocations, reviewing the efficiency of the plan, and the effect of vesting on participants' account balances.

    • Compliance Analyses. Analysis of the plan's compliance with Federal income and excise tax laws regarding qualified retirement plans, including the limitations on annual additions to accounts, limitations on deductibility of contributions, compliance with top-heavy rules, discrimination test, and compliance with minimum funding standards.

  • Administrative Actions

    • Eligibility Analysis. Determination of employee eligibility to participate in each benefit structure available under the plan.

    • Loan Processing. Assistance in meeting all operational requirements of plan loans, if available under the plan, including documentation of the transaction and of fiduciary actions associated with the loans.

    • Distribution Planning/Reporting. Advice to the sponsor concerning the choices available with respect to distributions to terminated participants; preparation all documentation related to such distributions, including plan records of administrative committee decisions regarding distributions, compliance with joint and survivor annuity requirements, Federal income tax reporting of distributions, and Federal income tax withholding.

    • Update Administrative Forms. Providing, as needed, updated onsite editions of basic administrative forms.

  • Fiduciary Review.

    • Trustee Liability Review. Indicate whether exceptions to Trustee liability are properly in place and documented, including participant direction of investment and delegation of investment responsibility options.

    • Bond Compliance. Evaluate compliance with fiduciary bond requirements.


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