Explanation of Services


Plan Set Up

Plan Set-up (New or Restated Plans) - This service includes (as appropriate):


- Document preparation and maintenance;preparation of Prototype Adoption Agreement, Summary Plan Description, and Corporate/Adopting Resolution;preparation of Administrative Services forms and documents.

Plan Conversion
This service includes the transfer of assets and conversion to new investment funds, into a standard plan of the same type.

Annual Recordkeeping Services


These services include (as appropriate):


- Review and allocation of contributions (employee and employer matching contributions by participant election;


- Employer profit sharing contributions by pro-rata or permitted disparity allocations);Annual Plan Valuation;


- Plan Testing (1 projected, 1 final): Section 410(a)(26) and 401(b) testing, Section 401(k) and 401(m) testing, Section 415 annual additions, Section 416 Top Heavy Testing;


- Determination of participant eligibility and vesting;


- IRS Forms 5500 preparation (fewer than 100 Participants) and related schedules;


- Summary Annual Report preparation;


- Technical updates for pension law changes;


- Processing of non-hardship distributions (maximum of 10 per Plan Year) and preparation of the associated 1099-R reporting and tax withholding;


- Annual Loan administration.

Additional Services 


These services are available upon request and include:


- Processing of non-hardship distributions in excess of 10 within a Plan Year and preparation of the associated 1099 reporting and tax withholding;


- Hardship distributions;


- Loan originations;IRS Forms 5500 preparation (greater than 100 Participants, reviewed with Plan Auditors);


- Additional projections of Employer contribution allocations;Mid-Year Plan Testing (additional projections);


- Non-standard allocation of Employer contribution.


Other services requested will be charged to the client on an hourly basis. Additional extraordinary services including custom document preparation, summary plan descriptions, compliance testing, plan redesign, IRS/DOL audits and Qualified Domestic Relations Orders (QDROs) will be quoted and billed separately.