Processing of participant loans, terminations and distributions
Plan reviews to incorporate the newest design features
The services we provide for our clients range from simple to very complex. Many of our clients want and appreciate simple plans that are cost efficient without sacrificing careful design, timely reports, and participant materials which are attractive and easy to understand.
We are particularly gratified that much of our business comes as referrals from accountants, attorneys, and other professional advisors.
401(K) PLAN SERVICES PROVIDED
·Completion of the IRS 5500 Forms
·Accounting by Plan Participant
·Accounting by Sources of Contributions
·Reports or Statements to Employees
·Toll-free Account Access and Exchangeability
·Minimum Distribution Processing
·Administrative Manual
·Drafting of Board of Resolution
·Development of a Summary Plan Description
·Completion of Notices to Interested Parties, where required
·Completion of IRS Filing Forms (for favorable determination letter)
·Availability of complete Plan Enrollment and Beneficiary Designation Form
·Maintenance of Vesting Schedule and participant’s vested interest
·Monitoring Salary Deferral Limits
·Performance of the non-discrimination tests: ADP, ACP and Top Heavy Tests
·Guidance in resolving any test failures
·Monitoring Maximum Limits (415 Limits)
·Preparation of Summary Annual Reports for the Plan Participants
·Assistance in responding to IRS audit of the plan
·Optional Tax withholding and Reporting
·Optional loan set-up and tracking
·Quarterly participant statements
·404(c) Compliance
·Enrollment Video and Slide Presentation
·On-site Presentations Available
·Personalized Enrollment Forms
·Personalized Plan Savings Analysis
·Personal Plan Administrator
PENSION AND PROFIT SHARING PLAN
SERVICES PROVIDED
Determine the cost basis of stock purchases, prepare allocations to participant’s accounts, record payment of principal and interest on participant loans and allocate rights of all shares to each participant.
Analyze employer contributions and employee forfeitures to ascertain subsequent employer contribution level.Ascertain investment gains or losses, allocate to participants’ accounts and value each participant’s account.Verify compliance with ERISA, SBJPA, GUST, EGTRRA, and PPA rules.Determine “Top Heavy” status of the Plan
Prepare an annual allocation report with complete year-end of the Plan and listing all employees in our data files.
Prepare an attractive Participant Statement, which is individually computed, for each participant’s account.It will show beginning balances, various transactions during the year, and the ending balance in each account, with the current vested percentage and vested value.We can also list other benefits if desired.
We prepare all required forms for the Plan, including all required Internal Revenue Service Forms (currently form 5500 with schedules) and Department of Labor reports.All other required reports to be distributed to participants and beneficiaries.
Compute a distribution payable to a terminated, retired or deceased participant at a time other than the normal plan anniversary valuation.
Prepare year-end statements computing the taxability of a terminated participant’s distributions and reporting any tax withholding to the IRS.This includes preparation of IRS forms 1099R, and 945 as well as State of California forms DE-6 and DE-7.
Prepare amortization tables for participant loans along with the promissory note and irrevocable pledge.
Consultation on Plan questions, proposed amendments and other matters related to qualified Plans.
