Our Services
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.
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.
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