Consulting Services

A partner you can trust to deliver expert advice

At PensionSource, our commitment is to be your trusted partner. We leverage our extensive industry experience and complete objectivity solely for the benefit of our clients. Our consulting services are customized to meet your preferences for working together, whether you have a specific project, or wish to take advantage of our consulting knowledge on an ongoing basis.

Successful Solutions

Helping employers reach successfully solutions to retirement plan issues during times of volatility and change is a PensionSource trademark. Our staff is comprised of professionals who have earned their credentials through decades of experience providing unparalleled client service. Each possesses unsurpassed technical knowledge of the regulatory, professional, and fiduciary obligations for retirement plans and the provisions of services to plan sponsors. They can offer sound advice and suggestions to improve your plan processes, or expand your plan’s benefits.

ERISA Consulting

As retirement plan rules have become more and more complex and regulatory scrutiny has increased, it has become common for companies to experience operational and other problems with their retirement plans. The PensionSource consulting team has the expertise to help employers navigate through the options to correct problems.

Common Problems

  • Failure to Timely Amend Plan Documents
  • Failure to Follow the Plan Document
  • IRS Audits
  • DOL Investigations

Correction Programs

The Internal Revenue Service (IRS) and Employee Benefits Security Administration (EBSA) both offer cost-effective, plan correction programs to allow employers to correct mistakes and protect participant benefits.

  • Self-Correction Program (SCP) – Available to correct insignificant plan problems.
  • Voluntary Correction Program (VCP) – Available to correct specific types of plan problems. The employer files an application, pays a fee, and corrects the problem.
  • Delinquent Filer Voluntary Compliance Program (DFVCP) – Available to allow employers to catch-up on late filings of IRS Form 5500.
  • Voluntary Fiduciary Correction Program (VFCP) – Allows employers to correct certain fiduciary-related transactions or problems.

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