At Employee Benefits Group, LLC, we offer comprehensive Third Party Administration (TPA) services for company-sponsored retirement plans. Our goal is to ensure your plan remains compliant with federal regulations and operates smoothly year-round. Here’s a breakdown of the services we provide:
Compliance and Reporting
- Governmental Reports/Returns: Preparation and filing of Form 5500 or SF, including all necessary attachments.
- Summary Annual Report: Preparation and distribution of the Summary Annual Report to participants at the end of the plan year.
- Form 8955-SSA: Preparation and submission of the Annual Form 8955-SSA.
- Required Annual Notices: Preparation of all required annual notices, including fee disclosure.
Testing and Calculations
- Annual Discrimination Testing: Conducting tests to ensure your plan meets required non-discrimination standards.
- Age 73 Required Minimum Distribution (RMD) Calculation: Annual calculation and processing of required minimum distributions for participants turning age 73.
Plan Document Services
- Initial Plan Documents: Preparation and review of initial plan documents.
- Plan Restatements: Updating plan documents every 6 years as required by the IRS.
- Plan Amendments: Handling plan sponsor-directed amendments and plan restatements.
- Plan Document Maintenance Fee (Optional Program): Includes all required restatements, amendments, and sponsor-directed amendments.
Plan Administration
- Distribution Review: Reviewing and processing distributions from the plan.
- Eligibility and Vested Benefits Analysis: Analyzing employee data to determine eligibility and vested benefits.
- Specialized Testing and Plan Design: Providing customized testing, plan design, and calculation services.
Additional Services
- IRS Voluntary Correction Program Filing: Assisting with filings under the IRS Voluntary Correction Program.
- DOL Voluntary Fiduciary Correction Program Filing: Handling late submissions under the DOL Voluntary Fiduciary Correction Program.
- DOL or IRS Audit Support: Providing support during Department of Labor or IRS audits.
- Merger and Acquisitions Consulting: Offering expertise in retirement plan considerations during mergers and acquisitions.
- ERISA Legal Consulting: Providing legal consulting services related to ERISA regulations and compliance.
- Determination Letter Filing: Assisting with the filing of determination letters for plan qualification.
- Manage Lost Participants: Assistance with locating and managing lost participants.
- Late 5500 Preparation (DFVCP): Preparation of late Form 5500 submissions under the DFVCP program.