Plan Services

Services to Be Provided:

  1. Calculate contributions and/or forfeiture allocations, including earnings
    calculations for untimely contributions.

  2. Perform any required discrimination testing; including but not
    limited to the following:

    1. Coverage testing under Code section 410(b).

    2. Nondiscrimination testing under Code section 401(a)(4).

    3. ADP and ACP testing under Code sections 401(k) and 401(m), including identifying highly compensated
      employees and/or necessary corrections for failed tests.

    4. Monitoring for maximum deferral limitations under Code section 402(g).

    5. Determination of participants eligible for catchup contributions under Code section 414(v) and whether any contributions made by any participant qualifies as a catchup contribution.

    6. Monitoring of maximum contribution limits or benefit limits under Code section 415.

    7. Certain compliance issues.

    8. Top heavy testing under Code section 416, including determination of key employees and calculation of required minimum top heavy benefits or contribution.

  1. Calculation of vesting of employer contributions.

  2. Assist Client in determining eligibility for hardship or other distributions, including exclusion from eligibility to make deferrals following a hardship distribution, and assist Client in making distributions of benefits from the Plan to eligible participants.

  3. Prepare the Annual Return/Reports and relevant attachments for Client's Signature, as appropriate.

  4. Prepare Summary Annual Report or Annual Registration Statement.

  5. Other consulting or related projects requested by Client. 

  1. Post bi-weekly employee contributions. 

Distribution, Hardship Withdrawals And Participant Loans

Distribution Services:

Upon request by Client, TPA will process participant distribution requests, prepare the necessary forms for signature and generate necessary documents for the distribution, and for approval of the distribution by Client. Client shall at all times be exclusively responsible for determining whether a participant or beneficiary may be entitled to a distribution from the Plan.

Hardship Withdrawal Services:

Upon request by Client, TPA will process participant hardship withdrawal requests, and assist Client in applying the terms of the Plan to determine whether and to what extent a participant is entitled to a hardship withdrawal under the terms of the Plan under the circumstances, provided that the Client shall at all times be solely and exclusively responsible for making the final determination of whether and to what extent a participant may be entitled to a hardship withdrawal under the terms of the Plan.

Participant Loan Services:

TPA shall assist in the processing of requests for participant loans as may be allowed under the terms of the Plan, including preparation of amortization and repayment schedules, calculation of maximum loan amounts, and preparation of forms and paperwork necessary in connection with Plan loans, provided that the Client will be responsible for making the final determination of whether and to what extent a participant may be entitled to a loan under the terms of the Plan. TPA shall also periodically assist Client in determining whether defaults have arisen in connection with any Plan loans.

 

Contact Us

For more information please contact us.






Our Providers

© 2017 The Siekmann Company
Joomla Templated by joomzilla.com
Designed by O.T.Web Designs
Back to Top