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.
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Plan Design and Implementation |
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Defined Contribution Plan Recordkeeping and Administration |
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Annual Compliance Testing and Government Reporting |
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Consulting Services |
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.
- Prepare plan documents as required by the IRS using the Pension Design & Administration, Inc. Prototype and Volume submitter plans, Individually Designed plans or plans sponsored by your financial institution or attorney.
- Prepare the request for an IRS determination letter, if applicable.
- Prepare the Summary Plan Description that is required to be distributed to plan participants.
- Prepare customized administrative materials.
Defined Contribution Plan Recordkeeping and Administration
We perform the following services, if applicable to your plan, in order to provide smooth and efficient plan operation:
- Calculate employee eligibility and plan entry.
- Maintain participant vested percentage records.
- Determine eligibility for allocation of employer contributions and forfeitures.
- Allocate employer and employee contributions.
- Allocate plan earnings.
- Allocate forfeitures.
- Distribution processing: Calculation of distribution amount, preparation of required distribution notices 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.
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) and 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.
Consulting Services
- Plan amendments, terminations and mergers.
- Assist with IRS and DOL audits.
- Provide assistance with plan design changes.
We believe that commitment and communication are the foundation of a successful relationship. Today’s complex pension regulations require that all of the people involved be committed and have quality communication skills.
Our goal is to become your primary resource for your pension needs. At Pension Design & Administration, Inc., we are committed to providing a full line of pension support services to your satisfaction.