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 the TPA 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 Of An Existing Plan

• Gather and review prior year reports and compliance testing for completeness.
• Assist in establishing plan accounts with the investment provider.
• 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 data gathering procedures and communication lines with the Employer’s contact.
• Communicate distribution, contribution deposit, and ongoing administrative procedures with the contact.
• Set up the plan in the TPA database and administration systems.
• 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.
• Provide necessary employee notices.

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.

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.

Additional 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 these Defined Benefit Plan services, TPA engages the services of an enrolled actuary to review and certify the Plan’s Schedule SB.

Advanced Legal Plan Compliance Issues

It is our firm’s policy to refer to ERISA counsel for the following services:

• Representation of Employer/Plan Sponsor in IRS/DOL Plan Audit.
• Correction of a Nondiscrimination Test failures.
• Plan corrections to maintain IRS tax-qualified status (EPCRS).
• Corrections for late or missed Form 5500 filings (DFVC Program).
• Corrections for late 401(k) or loan payment deposits (VFCP).
• Prepare compliance amendments for IRS tax qualification and discretionary amendments per Employer requests.
• Plan mergers and terminations.

Services Not Included

In addition to the services we provide, it is important to indicate services which we do not provide.  Hilde Minkel & Associates acts solely as a service provider, not in any fiduciary capacity. We are not retained as Trustee or Plan Administrator and do not provide investment or individual tax advice.

Hilde Minkel & Associates does not provide any services, or take responsibility for any outcome as a result of, testing in connection to IRC Section 414(b),(c),(m),(n) or (o) with respect to the affects, results, coverage requirements thereof and discrimination issues which arise from such determination of a Controlled Group of Business, Affiliated Service Group, Management Organization, or any other required aggregation of businesses.  We strongly advises you to seek legal ERISA council for such determinations.