Employees are the most important assets of your business. They represent a large investment and yield high returns to your business. With proper planning you can provide tax-free and tax-deferred benefits to your employees. We can assist in the selection, design and administration of the following Employee Benefit Plans:
- Profit Sharing Plan
- Money Purchase Plan
- SEPs
- IRAs
- Simple
- 401k Plans
- Roth IRA
- Cafeteria Plans or Flexible Spending Accounts
THIRD PARTY ADMINISTRATOR (TPA)
All retirement plans need an administrator. The Plan Sponsor is typically the Plan Administrator. The Sponsor rarely has the time or the expertise to serve as Administrator, so they will contract with an independent source to serve as TPA. We serve as TPA for over thirty clients. We work with you, the Plan Sponsor, and with your Investment Advisor and the Investment Custodian and Recordkeeper to track investments and the participants' share of the investments, in addition to such issues as eligibility, allocation of contributions, terminations and distributions. We perform the required testing for the plans and we prepare the government reports for the IRS and the U. S. Department of Labor and compile all of these segments of administration into an Annual Report for the Plan Year.
The success of the retirement plan begins with the Plan Design, which plays an important role in defining eligibility and other plan components, and especially in allocating Plan Contributions for the best advantage to the owners and officers. We can work with your Investment Advisors if they provide proforma plan documents, or we can generate individually designed plans through our volume submitter program in conjunction with an industry leader in Plan Documents.
All qualified retirement plans must be restated during the period beginning May 1, 2008 and April 30, 2010. Please call on us to help with your Plan Restatement during this period. |