Administrative Record-keeping tasks

  • Review the census and identify new entrants
  • Calculate year-end employer contributions
  • Update participant vesting
  • Allocate forfeitures
  • Calculate 401(k) and 401(m) discrimination testing
  • Perform top heavy testing
  • Perform coverage testing under IRC Section 410(b)
  • Calculate IRC Section 415 annual addition limits for each participant
  • Calculate deductible contributions under IRC Section 404
  • Update cumulative records of employee contributions as required for hardship distributions

Reporting and disclosure tasks

Our core service package provides:
  • Prepare Federal Form 5500 and required schedules
  • Reconcile plan contributions to plan investments
  • Analyze plan transactions in order to reconcile beginning-of-plan-year asset values to end-of-year values
  • Reconcile participant loans to amortization schedules
  • Prepare annual statements of vested benefits
  • Provide a summary annual report to the participants and beneficiaries receiving benefits

Distributions and loans

  • Calculation of vested benefits
  • Calculation of plan distributions
  • Calculation of loan amounts
  • Provide the participant with the necessary distribution election forms
  • Prepare and file 1099 forms for the plan distribution unless prepared by another provider