- 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.
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.
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
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
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.