Retirement Plans - Full Service
All plan sponsors receive the following administrative services for their retirement plans:
TRUST RECONCILIATION
Prepare income statement which includes statement of assets, employer receivables, interest, dividends, accrued income, realized gain/loss, unrealized gain/loss, plan expenses, benefit distributions and insurance premium payments.
RECORDKEEPING/ACTUARIAL REPORTING
- Prepare census information reports which include hours worked, years of service, employee status, termination dates, vesting percentage, participant account balances by source of funds (i.e. profit sharing, 401(k) employee elective deferrals, employer matching), participant loans, rollover accounts, insurance cash values, projected normal retirement benefits, accrued benefits and present value of accrued benefits.
- Review plan documents for any necessary amendments due to any recent changes in the tax law or plan operation.
- Review plan specifications and I.R.S. changes due to indexing of limitations.
- Determine eligibility of employees.
- Prepare consolidated participant statements.
- Prepare and file the following government forms:
- Form 5500
- Schedule A
- Schedule B
- Schedule C
- Schedule P
- PBGC Form 1
- PBGC Schedule A
- Prepare participant beneficiary forms.
- Prepare participant termination forms in accordance with the plan document.
- Continue client consultation throughout the plan year.
- Coordinate distribution payouts of participants including preparation of Form 8109 and Form TA-1.
Additional administrative services available at additional charge:
- Prepare Form 945
- Prepare 1099 Forms
- Prepare 1096 Transmittal
- Loan Documents
- Hardship Withdrawal Forms
- Special participant termination forms other than early or normal retirement
401(K) PLANS - UNBUNDLED SERVICE PACKAGE WITH INSURANCE COMPANY OR MUTUAL FUND COMPANY
All plan sponsors receive the following administrative services for their 401(k) plans:
- Draft a custom plan document and Summary Plan Description if necessary.
- Submission to I.R.S. if necessary.
- Prepare adoption agreement and submit to investment provider.
- Review sample Summary Plan Description.
- Prepare sample Summary Plan Description, deliver to plan sponsor and file with Department of Labor.
- Conduct employee enrollment meetings.
- Determine eligibility of employees.
- Perform initial discrimination testing.
- Review quarterly discrimination testing.
- Track vesting of employee accounts.
- Trust reconciliation:
- Prepare income statement which includes statement of assets, employer receivables, interest, dividends, accrued income, realized gain/loss, unrealized gain/loss, plan expenses, benefit distributions and insurance premium payments.
- Prepare and file the following government forms:
- Form 5500
- Schedule A
- Schedule C
- Schedule P
- Prepare participant beneficiary forms.
- Prepare participant termination forms in accordance with the plan document.
- Review plan documents for necessary amendments due to any recent changes in the tax law or plan operation and notify plan sponsor.
- Review plan specifications and I.R.S. changes due to indexing of limitations.
- Continue client consultation throughout the plan year.
Additional administrative services available at additional charge:
- Prepare Form 945
- Prepare 1099 Forms
- Prepare 1096 Transmittal
- Loan Documents
- Hardship Withdrawal Forms
- Special participant termination forms other than early or normal retirement
CAFETERIA PLANS - FULL SERVICE
- Annual election package
- Non-discrimination and limitation testing
- Prepare and file government forms
- Employer report
- Overall review of benefit program
- Client consultation
| Home
| Contents | Working Abacus |
| Abacus Advantage | Contact Us |
Send mail to webmaster@abacusbci.com
with questions or comments about this web site.
Copyright © 2008 Abacus Benefit Consultants, Inc. All rights reserved. Tel.
(401) 942-4900