Compliance Administration

Retirement plans constantly face changes in laws and regulations. The federal regulations governing qualified retirement plans number thousands of pages, and address all aspects of plan establishment and operation. A failure to properly establish and operate a plan in compliance with these regulations could cost a plan its qualified status, causing the loss of sponsor tax deductions, and unexpected taxation to participants. Comprehensive document preparation and administrative services include internal quality review procedures to ensure that compliance is maintained.

Through our administration group, PensionSource compliance services are provided by experienced qualified plan and accounting professionals under the direct supervision of senior compliance management personnel. Our staff has extensive experience with retirement plan design issues resulting from government compliance and enforcement efforts.

Compliance and reporting services include:

  • Actual Deferral Percentage (ADP) Test (IRC §401k)
  • Actual Contribution Percentage (ACP) Test (IRC §401k)
  • Annual Additions Limitations Test (IRC §415)
  • Annual Coverage Test (IRC §410b)
  • Maximum Deferral Limit Test (IRC §402g)
  • Multiple Use Test (where applicable)
  • Top Heavy Test (IRC §416)
  • Preparation of Form 5500 including required schedules and attachments
  • Preparation of plan-level reportable transactions
  • Preparation of a reconciliation of items recorded in Form 5500

PensionSource is knowledgeable in every aspect of the Employee Retirement Income Security Act of 1974 (ERISA), which establishes the standards for retirement plans offered by companies like yours. The laws that have been established by ERISA are in place to provide assurance that employees will have the funds that have accrued in their retirement accounts over the years, but navigating those rules can be a daunting task for many plan sponsors.

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