Services

Because we are a full service consulting and administration firm, partnering with us ensures that the needs of employer and employee will be met. We offer a full range of retirement plan services.

Daily Valuation Recordkeeping

Daily valuation recordkeeping is our most integrated solution. By performing share accounting for each individual participant, we can more swiftly respond to participant and sponsor needs.

Some core capabilities in the daily valuation environment:

  • Maintenance of participant account balances by source
  • Allocation of plan contributions to the correct mutual fund investment alternatives chosen by the plan participants
  • Processing of participant distributions pursuant to instructions received
  • Quarterly sponsor reports summarizing participants’ activities for the past quarter
  • Quarterly participant statements
  • Annual Qualified Default Investment Alternative (QDIA) Notice
  • Annual Participant Fee disclosure in compliance with ERISA §404(a)(5)

Traditional Third Party Administration

We perform the following services 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, if applicable.
  • Distribution: 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.

We also perform traditional third party administration functions either with our own daily valuation system or in conjunction with a major national recordkeeper:

  • Assist the employer in determining plan design and all provisions desired and applicable for accomplishing objectives
  • Draft Plan document, Summary Plan Description, and supporting documentation as needed
  • Review current Plan document for compliance and completeness
  • 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, if applicable
  • Distribution: 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 70 ½ distributions

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, help guide you to 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)).
  • 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).

3(16) Through an affiliate

As a business owner or manager, the retirement plan can be a little outside your wheelhouse. You know you need to offer a plan, but you don’t have the time or the inclination to devote to myriad administrative tasks. Our 3(16) services offered in conjunction with our affiliate, Thrivia, helps alleviate some of those stresses.

Some of the potential areas where Thrivia can step in:

  • Review all distributions and loans
  • Determine eligibility
  • Deliver notices to participants
  • Sign Form 5500
  • Review and recommend changes to plan operations

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.