We are a full-service pension consulting firm.
We provide all administrative and compliance services over the life of the plan.
Plan Design
Plan administration begins with correct plan design. We do not sell plans but plan design solutions. If we takeover an existing plan or set up a new plan, we like to consult with the employer by starting with a clean slate. We ask questions such as what are the employer’s objections, company culture and competition. The size of the client, number of participants, age of the participants and compensation levels impact plan design now and into the future.
Plan Document Preparation
A plan is governed by the plan document. After plan design is completed, we prepare the plan document and summary plan description. From time to time the plan must be amended because of changes the employer requests or by law changes. We monitor these changes and prepare the documents to amend the plan as needed.
Government Compliance Testing and Reporting
The plan must pass various compliance tests every plan year – these include top heavy testing, coverage and participation testing, general testing and 401(k) testing. We start the process by assisting the employer in determining annual employer provided contributions. Simultaneously we perform the required nondiscrimination testing.
Actuarial and Annual Reporting
Clients receive a complete annual report, including a summary of the nondiscrimination testing, the actuarial report (for defined benefit clients), a summary of participant accounts/benefits and the participant’s vested balances.
Participant Distribution and Loan Processing
We assist the employer in helping participants with the exiting plan by preparing all the necessary paperwork for the participant, including the employer’s signature. For plans that allow participant loans, we determine the available loan amounts and prepare all documents necessary for the plan loan and loan maintenance.
GO Fiduciary Outsourcing
Through our sister company, GO Fiduciary Outsourcing, we offer ERISA 3(16) Plan Administration fiduciary services. These services can be as simple as sending participants all required notices, to pulling contribution data from the payroll provider and getting the contributions deposited to the investment company timely, or to taking a full fiduciary role for the Employer.