Experts in Personalized Retirement Plan Design & Administration



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Benefit Plans Plus provides plan administration for all types of retirement plans including defined benefit and defined contribution plans. A detailed listing of the administrative functions is as follows:

  • Prepare plan document along with related documents for execution.
  • Coordinate enrollment and administration forms.
  • Prepare summary plan description (SPD).
  • Process current employee census and deferral data annually and provide enrollment forms for employees as they commence participation in the plan.
  • Calculate the required contribution for plans subject to ERISA’s Minimum Funding Standard. Calculate the optimum contribution, or maximum deductible contribution for a profit sharing plan, including the determination of top-heavy minimum contribution, if applicable, matching contributions and any other discretionary contributions, including cross-tested contributions.
  • Identify highly compensated employees and key employees.
  • Test for compliance with the minimum coverage and participation requirements of Section 410(b) of the code annually.
  • Test discrimination under section 401k and (m), if applicable.
  • Test for compliance with annual compensation limits and test annual addition limits for each participant.
  • Allocate discretionary contribution and forfeitures to participant accounts, if applicable.
  • Maintain pending forfeitures and break-in-service records.
  • Prepare annual employer valuation report, including trust balance sheet and trust income statement for plan administrator.
  • Prepare annual participant statement, along with summary annual report (SAR).
  • Prepare annual IRS reporting form 5500 along with all required schedules.
  • Assist plan administrator in regard to qualified pre-retirement survivor annuity notices, elections, and spousal consents, if applicable.
  • Provide required notices, elections and spousal consent forms for distributions as permitted under the plan.
  • Calculate distributions (age 70 1/2, death benefits, etc.) and prepare form 1099-R and form 945.
  • Meet regularly with plan administrator, trustee(s) and participants, if desired.

If you would like to receive more information, contact Patrick Shelton, GBA at 314.824.5252.

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