Retirement Plan Administration
The day-to-day challenges of running a business can be tremendous—and selecting and managing a retirement plan is often one of a business owner’s greatest concerns. Understanding your options. Conforming with special regulations. Keeping up with changing laws. Staying in compliance with federal and state requirements. With so many variables, how do you determine what’s best for your employees and most cost-effective for your company?
For flexible solutions and experienced advice you can trust, talk to the retirement plan specialists at Schenck Retirement Plan Solutions LLC. Our professionals focus solely on administering employer-sponsored retirement plans. Whether you need a new plan designed for your organization, or someone to step in to administer your current plan, you can count on Schenck for assistance.
Depending on the structure and size of your company, your options for retirement plans vary. Our team will help you understand the alternatives and select a plan that’s most advantageous for you. We design and administer a wide variety of plans, including:
- Standardized and non-standardized adoption agreements
- Age-weighted and new comparability (cross-tested)
- 401(k) profit sharing plans and money purchase pension plans
- Safe harbor 401(k) profit sharing plans
We provide you with the materials you need to implement the plan, such as summary plan descriptions. You’ll also receive a complete set of administrative forms for your plan, including notices to employees for safe harbor plans, materials to ensure 404(c) compliance, and more.
Accounting/Retirement Plan Allocations
Once your plan is in place, you can continue to rely on your team at Schenck for local service and support. We’re here to help you manage the plan, comply with reporting requirements, and answer your employees’ questions. Ways in which we can assist you include:
- Collection of employee census information
- Determination of plan eligibility status
- Calculation of deductible amounts as well as allocation of employer contributions/forfeitures
- Preparation of distribution forms and tax reporting upon participant termination
- Preparation of all tax forms including Form 5500 (annual tax return)
- Compliance testing as required by the Internal Revenue Service and the Department of Labor
- Round-the-clock online access to your account
- 401(k) employee meetings
- Collection and posting of salary deferrals – pre-tax and/or Roth after-tax
- Audit support, including data collection for IRS or DOL representatives. We will also meet with these representatives for you.
Competitive Fee Structure
Schenck offers an extremely competitive fee package with either our daily valuation or traditional balance-forward platforms.
For plans on our daily valuation platform, we may be able to capture 90% of any 12b-1/Sub-TA payments which are paid by the mutual fund company. We use these to offset your administration fees, which in some cases eliminates our fees altogether. Fees are fully disclosed on your quarterly invoice, so that you are completely aware exactly how much your plan costs are at all times.
And, because we are affiliated with Schenck SC, you can feel comfortable knowing you’re benefiting from a tradition of providing quality and value in financial planning, investments, and taxes since 1930.
Put your employees on the road to a successful retirement by putting our strength and experience to work for you. Call Schenck Retirement Plan Solutions LLC today at 888-881-9664.
- Retirement Plan Consulting & Plan Design
- Plan Documents & Forms
- Accounting Preparation
- Retirement Plan Allocations
- Form 5500 Preparation
- 401(k) Meetings