Are You Getting The Most Out Of Your Plan?

Let ABA evaluate your plan or design one customized to your company's needs.  Has your TPA consulted with you on safe harbor provisions, new designs available, participation and eligibility trends?  Every plan is unique and every company has unique needs.

Each year, ABA provides each client its own customized review of the plan.  We call it the "Annual Plan Review".  This is something our competitors do not issue each year.  The review is full of easy to read useful information on your plan.  It details deadlines, plan provisions, compliance requirements, operational efficiencies and deficiencies, testing results and more.  Another purpose is to assist each fiduciary in their duties.  By acknowledging that they have read and understand plan operations for the year, they have fulfilled certain DOL requirements such as the duty to follow the plan document.

As a Third Party Administrator, we provide services for all types of qualified retirement plans.  We assist the plan sponsor in navigating the complex world of ERISA plan design, administration, compliance testing, trust accounting, recordkeeping and government reporting requirements. Our services include:

  • Plan Analysis and Design

  • Plan Installation or Takeover

  • New Plan Documents, Amendments, or Restatements

  • Summary Plan Descriptions

  • Plan Administration (A-Z)

  • Trust Fund Services and Accounting

  • Participant Loans and Distributions

  • Plan Termination

  • Consulting Services

  • Nondiscrimination Testing

  • Newsletters keeping clients abreast of administrative and legislative issues

  • Access to our secure web portal protecting the confidential nature of plan information

 

 

Plan Administration is made up of many processes, procedures, calculations, reports, deadlines, etc.  They are all based upon complicated government regulations and laws.  The administrators and consultants at ABA know how to perform these processes, provide reports that are easy to understand and meet government expectations.  Here is a partial list of what takes place during the administration process and review.

  • Determine employee eligibility for participation, benefits, contributions, forfeitures, top-heavy status, crediting of investment gains or losses, vesting and plan coverage.  Key employee, non-key employee, highly compensated employee and non-highly compensated employee designations are computed.

  • Prepare annual reports for the plan sponsor showing benefits or accounts.  Certain plans will require the allocation contributions, forfeitures and gains or losses to the participant accounts, distributions, etc.

  • Maintain records of all employees including those eligible or not eligible to participate in the plan with respect to breaks in service, compensation, hours worked, date of birth, date of hire, marital status, etc.

  • Test plan annually to ensure compliance for minimum participation requirements, Average Deferral Percentage/Average Contribution Percentage (ADP/ACP) tests, compensation limits, deferral limits, deductibility limits, discrimination and coverage requirements, allocation limits and top-heavy minimum requirements.

  • Calculate and prepare statements of benefits for participants including those who terminate by reason of death, disability, retirement or termination of employment.

  • Prepare all required Internal Revenue Service (IRS), Social Security Administration (SSA), Pension Benefit Guaranty Corporation (PBGC) and Department of Labor (DOL) forms and schedules.

  • Prepare Summary Annual Reports (SAR), Annual Funding Notice, Safe Harbor Notice and other employee notices.

  • Provide assistance to the employer (or administrative committee) in establishing administrative procedures and develop the necessary forms and systems to complete such procedures.

  • Continually monitor the plan with respect to changes in the law.  Advise the employer and their attorney on any changes which are required.

  • Coordinate the duties of the trustees, plan administrator, accountant, attorney and other advisors to keep the operations of the plan running smoothly.

  • Calculate liquidity requirements for pooled trust funds to ensure terminating participants’ cash needs can be met.

  • Calculate participant vesting and amounts to be distributed to terminating employees.

  • Administer participant loan program.

ABA, Inc. can provide the full range of services some of which are outlined above, or a customized assortment of services that best meets your business and plan's needs.

Retirement Plan Services

Administration Services

Accrued Benefit Administrators, Inc.

 

Accrued Benefit Administrators, Inc.

 

The Key To Retirement Success

Is To Know Your Plan

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Copyright 2017 ABA, Inc.

 209 West Anapamu Street     Santa Barbara, CA     93101-3604     p. 805-568-1710     f. 805-568-1709