Services
Our firm was founded under the belief that quality, competence and client servicing are basic elements to a successful partnership.
What does a TPA do?
A TPA is hired by the employer to assist in administering the company’s retirement plan. This includes consulting on plan design, performing required IRS compliance testing, calculating employer contributions, reconciling participant accounts and plan assets, tracking participants’ eligibility and vesting status, as well as preparing the annual DOL and/or IRS filings. In addition, TPAs assist with certain administrative processes such as distributions and loans.
How do we develop an effective Plan design?
We work with the client and their strategic team (accountants, financial advisors and ERISA attorney if applicable) to create a plan design that is aligned with the employer’s objectives such as:
- Maximizing allocations for key individuals
- Expanding tax deduction opportunities for the company
- Providing employee benefits for recruitment and retention purposes
- Increasing retirement savings opportunities for participants
- Factoring flexibility for annual cash flow, revenue or profit
We build a plan or in some cases, a pair of plans, to best achieve the client’s desired outcome. We administer:
- Traditional 401(k) plans
- Safe Harbor 401(k) plans with Match or Non-Elective Contributions
- Profit Sharing Plans
- Traditional Defined Benefit Pension Plans
- Cash Balance Plans
- 403(b) Plans
We will review existing plans to evaluate whether the design and operations continue to be in accordance with the client’s evolving needs and goals. We ensure plans stay in compliance with changes in law.
Why does compliance matter?
Compliance is a concept often obscured by annual reporting requirements. Yet, fulfilling compliance is the most important requirement of retirement plans. A lack of compliance may jeopardize the tax status of the entire plan, disqualify contributions that have already been deposited, create tax penalties to the employer, or even result in civil and/or criminal liability to the plan’s fiduciaries.
We are more than administrators, processors or recordkeepers. Our work is centered around demonstrating that the plan has met all of the IRS testing requirements for coverage, non-discrimination, top heavy status, deductibility limits and maximum annual additions. Further, we assist the employer where applicable with required disclosures and notices that must be provided to plan participants, which could create another series of compliance issues.
Ready to start the conversation?