Annual Services

Annual administrative services are performed on a contract basis, billed quarterly.

  • Review plan document to coordinate outlined record keeping services with its provisions.
  • Request current employee census and payroll data from employer, accountant or payroll service. Determine eligibility from census data form.
  • Calculate service credits from census data provided.
  • Calculate age for plans in which it is a factor in funding.
  • Prepare contribution calculations.
  • Calculate employer deductible limits and defined contribution or defined benefit individual limits.
  • Allocate contributions and earnings.
  • Maintain vesting records.
  • Prepare a summary of assets based on the information provided by the trustee or other fiduciary.
  • Balance the allocation schedule (contributions, earnings, and ending asset values) to the financial data provided by trustee or other fiduciary.
  • Prepare Summary Annual Report (SAR)
  • Apply family attribution rules based on information provided by employer.
  • Determine key and highly compensated employees based on information provided by employer.
  • Calculate top-heavy status based on available data.
  • Monitor discrimination test for 401(k) plans and prepare corrective measures prior to year end.
  • Apply 410(b) ratio percentage test for plans that exclude employees with fewer than 1,000 hours of service or the last day of the plan year not employed.
  • Provide beneficiary designation form and spousal waiver form where applicable.
  • Maintain a listing of beneficiary designations from copies of forms provided by the employer for our files.
  • Meet with employer to review annual report.
  • Calculate Code Section 415 calculations and plan limitations for like plans (defined contribution or defined benefit).