The firm’s actuarial and retirement plan servicing department [Third Party Administration] designs, prepares (in conjunction with our pension attorneys), and administers retirement plans for businesses of all sizes. Our firm is unique in that it includes pension attorneys, Enrolled Actuaries and retirement plan administrators. By combining these disciplines under one roof, we are able promptly to resolve the multi-disciplinary issues that may arise in connection with retirement plan design and administration.
Since our firm does not provide financial or investment advice or sell any products in connection with the investment of plan assets, we are able to offer conflict-free advice to our clients. We are concerned only with designing the proper retirement plan for our clients' needs and ensuring that the plan meets all qualified plan rules and regulations on an ongoing basis.
The firm’s Third Party Administration department provides retirement plan administrative services necessary for the plan to meet all governmental requirements. Our annual administration services include annual calculation of plan contribution costs, annual nondiscrimination testing (and advice as to methodologies to correct a failure of such nondiscrimination tests), processing plan loans and benefit distributions for participants, and preparation of all necessary filings required by IRS and Department of Labor.
We also compile and prepare annual benefit statements which detail the amount contributed (or the amount of benefit accrued) for each plan participant and an annual valuation report for use by the business owner in evaluating the investment results of the plan for each year.
We integrate our administrative services with your investment advisor.
As a pension client of the firm , you are assigned your own designated Retirement Plan Administrator who has an intimate understanding of the terms and provisions of your retirement plan. Your Retirement Plan Administrator has access to our actuaries and pension attorneys so you can be certain that your Plan will remain in full compliance with the law and your questions will be answered accurately and promptly. To help us achieve our goal of providing our clients with the best service possible, your Retirement Plan Administrator is available to meet with you at your offices in the New York metropolitan area, to address any questions or concerns and provide you with options to enhance your retirement plan if so desired.
Opportunity: Our client discovered that their Third Party Administrator (TPA) had not prepared Form 5500s as required for his 401(k) plan since the plan began five