PLAN ADMINISTRATIVE SERVICES
Each year, we request an upload of your employee census data via our secure email link. Then we review and import your census file, including edit checks for incomplete data.
We determine each employee's eligibility to participate in the plan based on plan specifications. We next confirm whether the participant meets the minimum requirements to receive employer contributions, if any. We then allocate employee deferrals, employer contributions, forfeitures and earnings to participant accounts.
We provide annual trust reconciliation of all investment accounts, including reconciliation of contribution deposits to the original employee payroll records. Our administrative reports track and account for various contribution sources: 401(k) deferrals, Roth deferrals, employer matching, profit sharing and rollover.
We prepare an annual administrative report which includes employee census data, summary trust accounting, detailed individual account reconciliation, participant account reporting, participant account statements, compliance testing results and governmental filings.
Ongoing Participant Services:
Distribution Processing: Compute distribution amount due, prepare distribution forms, including required notices, process completed forms and prepare Forms 1099-R and 945.
Loan Processing: Provide loan application and prepare loan documents, including promissory note, amortization schedule and loan request form. Setup loan and track loan payments.
Hardship Withdrawal Processing: Determine amount available for hardship withdrawal and provide hardship notice and application.
Required Minimum Distribution (RMD) Processing: Calculate RMDs for participants
age 70 ½ or older.
We are also available to conduct periodic employee enrollment meetings.