ABC provides a complete range of services for all types of employee benefit plans including Defined Benefit Plans, Defined Contribution Pension and Profit Sharing Plans, 401(k) Plans, 403(b) Plans, 457 Plans, VEBAs, Deferred Compensation Plans, and Section 125 (Cafeteria) Plans. Our fees are based on the design of the plan and the services we provide. Our services can vary greatly depending on many factors; therefore we quote fees on a case-by-case basis. Every client receives a Fee Quote and a complete Service Agreement before work begins. The function of these documents is to define our responsibilities and the responsibilities of the plan sponsor. Listed below are some of the various services we provide. This list will be customized to your plan design. Click on a topic for a more detailed list of services.

• Plan Design and Implementation

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  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.

  If you come to us with a plan that has compliance violations, we will create Correction Packages to be submitted to the IRS Voluntary Compliance Program (plan document corrections) and the IRS Delinquent Filer Program (Form 5500 corrections).

  Prepare plan documents as required by the IRS. 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 enrollment and administrative materials. Conduct employee meetings to communicate the provisions of the plan.

• Defined Contribution Plan Recordkeeping and Administration

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  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
  • 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
  • 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
  • Reconcile trust accounts
  • Prepare customized participant statements
  • Monitor participants who are required to receive age 70 1/2 distributions

• Defined Benefit Plan Actuarial Services and Administration

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  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

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  Our professional staff has the knowledge and expertise to help keep your retirement plan in compliance with federal laws and regulations. We provide the following services, if applicable:

  • Contribution deductibility calculations (§404)
  • Annual additions testing (§415)
  • Top heavy testing (§416)
  • Coverage testing (§410(b))
  • General Non discrimination (§401(a)(4))
  • ADP/ACP testing (applicable to 401(k) plans)
  • Preparation of IRS Form 5500 and related schedules
  • Preparation of Summary Annual Report / Annual Funding Notices for participants
  • Preparation of appropriate PBGC form (for defined benefit plans only), if necessary

• Consulting and Out Sourcing Services

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  We are happy to consult with you on any issues that arise with respect to your qualified retirement plan. Some of the consulting services we provide include:

  • Study of the impact on benefits and contributions of changes to the Plan design
  • Preparation of an amendment to or restatement of the Plan and Trust documents
  • Preparation of a resolution adopting a company's action with respect to the plan
  • Plan mergers and spin-offs
  • Plan terminations
  • Assist with IRS and DOL audits
  • Conduct of special plan or participant benefit studies or projections
  • Preparation of reports for compliance with FASB pension rules for company financial statements

   

   

• Outsourcing plan administration to us makes sense in a lot of ways

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  Our focus starts from advising TPAs on Plan design and continues through the entire process of administration and filing of forms

  Lower costs of administration

  Improve quality & service - Our highly skilled and trained staffs does a remarkable job administering plans. We ensure timely, quality delivery to clients and thus promise customer delight, a step over customer satisfaction.

  Obtain expert skills - Our firm specializes in plan administration. Our expertise ensures high-quality deliverables, leaving the TPA enough time to serve his customers

  Improve processes - Our staff can help you improve your processes, quality review mechanisms and training procedures

  Enhance focus on core activities