Retirement Plan Administration

Annual plan administration is the process of translating the optimal plan design into a systematic and reliable process. This administrative process involves determining how contributions are allocated, determining who is eligible, meeting government non-discrimination tests, and sending reports to both company management and the Federal Government.

What exactly do we do? Watch here…

The tasks required to administer an employers’ plan are as follows:

  • Annually collecting and reviewing of employee census data to determine:
    • Dates of birth, hire and termination, as well as plan entry, employer contributions, vesting and distributions
  • Collection of annual investment statements
  • Performing annual compliance testing
  • Preparing annual plan valuations
  • Reviewing and communicating contribution options and requirements
  • Preparing annual employer and employee reports
  • Preparing annual Form 5500 Report/Return for signature and filing by the employer
  • Review fiduciary compliance requirements

What our clients say

“The team at Benefit Equity continually exceeds our expectations. Their focus on superior client service and creative thinking adds real value for our clients…and they are a pleasure to deal with and take pride in their work. In the past we have worked with other TPAs who charge a lot more for a reduced level of service. We would recommend BEI in a heartbeat.”