Services

Plan Design and Implementation

Selecting, customizing and implementing a plan can be a complex process. Our staff will guide you through each step of the process including:

Design a plan tailored to meet the needs of the owners, employees and the business itself;

If we are taking over a plan, we will review the existing provisions and recommend changes to fully meet the employer's goals and objectives;

Prepare plan documents as required by the IRS;

Prepare the Summary Plan Description that is required to be distributed to plan participants.

401(k), Profit Sharing, Defined Benefit and Cash Balance Plan Administration Services

We perform the following services in order to provide smooth and efficient plan operation:

Determine which employees are eligible to participate in the Plan;

Calculate benefit amounts and range of contributions permissible;

If applicable, allocate contributions and earnings to participant accounts;

Perform any required testing to show that the Plan is not discriminatory and meets coverage testing;

Perform section 415 limitation test;

Perform top heavy test;

Determine the amount to be distributed to terminated or retired participants;

Calculate minimum distributions to participants who are age 70 ½ and older;

Prepare paperwork for hardship or other in-service withdrawals;

Prepare annual or quarterly statements for the participants;

Determine participant vesting percentages;

Prepare a signature-ready Form 5500 with all applicable schedules;

Prepare Form PBGC Premium Filing Form;

Prepare the Summary Annual Report to distribute to all participants;

Prepare the Annual Funding Notice to distribute to all participants;

Prepare FAS/pension financial statements upon request;

Upon request each year, prepare Forms 1099R, 945 and 1096 to report distributions and taxes paid from the plan;

Provide a representative from Prime Retirement Solutions, LLC to answer questions over the phone that you may have regarding the Plan.

Perform actuarial valuation and certification

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.

Plan Design Review

Plan Operation Review

Merger and Acquisition Consulting

Bundled 401(k) Oversight

Correction of Plan Errors