Our Services
We are dedicated to designing plans that maximize tax deductions and minimize operational complexity for business owners. By providing plan sponsors with the tools they need to ensure the plan operates in compliance, we empower business to offer valuable retirement benefits that enhance employee satisfaction and retention, while ensuring that employees, retirees, and beneficiaries can easily navigate the benefits of a qualified retirement plan.
Plan Design & Document Services
New Plan Installation
Meet with the Employer to determine desired plan design and provisions for achieving objectives.
Draft the Plan Document, Summary Plan Description, and supporting documentation as needed.
Provide necessary employee notices. Set up the plan in our database and administration systems.
Assist in establishing plan accounts with the investment provider as needed.
Review data gathering procedures and establish communication lines with the Employer’s contact.
Communicate distribution, contribution deposit and ongoing administrative procedures with the Employer’s contact.
Plan Takeover
Includes all services of new plan installation plus:
Gather and review prior year reports and compliance testing for completeness.
Prepare a Blackout Notice if changes in investments are required.
Draft any letters needed to terminate services with the prior administrative firm.
Coordinate fund transfers with investment providers, if applicable.
Review the current Plan Document for compliance and completeness.
Restate the Plan Document according to the Employer’s objectives using our IRS-approved, HMA-sponsored prototype or volume document.
Annual Administration
Core Plan Compliance Services
Gather census data from the Employer (preferably electronically).
Collect asset information from investment provider(s).
Determine employee eligibility for plan compliance and calculations.
Calculate contribution amounts and applicable limits at the participant and plan levels.
Identify any available forfeiture amounts to reduce contributions or cover plan expenses
Conduct annual core compliance testing.
Verify contribution dates and amounts.
Prepare Form 5500 and related schedules.
Create the Summary Annual Report for employee disclosure.
Provide all required employee notices for compliance, including Safe Harbor 401(k) and benefit statements.
Prepare Employer valuation reports.
Notify the Employer of ERISA bonding requirements at the 10% level.
Inform the Employer about the necessity of hiring a CPA for plan audits and timely provision of required financial statements for the Form 5500.
Optional Administrative Services
Manual data entry and assistance with data collection challenges.
Asset reconciliation of information from investment providers.
Preliminary or alternative calculations and compliance testing.
Additional Services
Participant Distributions & Loans
Process distributions upon termination of employment, including hardship and in-service distributions, as well as Required Minimum Distributions.
Calculate participant vesting.
Prepare distribution and tax disclosure forms (Forms 1099R and 945).
Coordinate distributions with the investment provider.
Prepare participant loan documents.
Maintain participant loans.
Defined Benefit Plan Services / Actuarial *
Calculation of annual funding requirement.
Calculation of Adjusted Funding Target Attainment Percentage (AFTAP).
Preparation of the Annual Funding Notice.
Provide Actuarial Certification on Schedule SB.
PBGC premium calculation and preparation of annual filing.
FAS 132 Report.
* Note: In carrying out the Defined Benefit Plan services, TPA engages the services of an enrolled actuary to review and certify the Plan’s Schedule SB.
