Retirement Plan Administration
offered through Stephen Eldridge & Company, Inc.
Throughout the 45 years that Stephen Eldridge & Company, Inc. has served the growing needs of closely-held businesses and public corporations, one constant remains: Its steadfast commitment to a client-centric culture that puts the clients’ best interests first.
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Stephen Eldridge & Company offers a wide range of consulting and administrative services that promote corporate goals and objectives, control cost, and give employees a sense of security about their retirement income.
Plan Design and Implementation
Choosing a plan and customizing it to fit your goals and objectives can be a daunting task. Our experienced staff makes it easy by walking you through the process one step at a time.
- Review various plan design options.
- Customize a plan tailored to meet the needs of the company, the owners and the employees.
- Review of all plan provisions so you know your plan works.
- For existing plans, we will recommend changes to plan provisions which simplify plan administration.
- Prepare, or review, plan documents and the Summary Plan Description.
- Prepare the request for an IRS Determination letter, if applicable.
- Prepare customized administration forms.
- Review controlled group and/or affiliated service group situations.
- Apply for trust tax identification numbers.
Our staff works with you, and in some instances with your CPA, to insure accurate and timely administration services.
- Reconcile trust accounts
- Calculate employee eligibility and plan entry
- Determine eligibility for allocation of employer contributions and forfeitures.
- Allocate employer and employee contributions.
- Allocate plan earnings
- Allocate forfeitures.
- Maintain participant vested percentage records
- Distribution processing: Calculation of distribution amount, preparation of required distribution notices and IRS form 1099-R.
- Loan processing: Set up of loan accounts, preparation of promissory note and amortization schedule and tracking loan repayments.
- Hardship withdrawal processing: Determination of hardship distribution amount and preparation of application forms.
- Prepare participant statements.
- Monitor participants who are required to receive age 70 1/2 distributions.
Annual Compliance Testing and Government Reporting
Our experienced staff has the knowledge to keep your plan in compliance with federal laws and regulations. However should a violation occur, we can provide you with ways to correct the problem. We will also keep you informed about changes in the law or government reporting which may affect your plan.
- ADP/ACP testing (for 401(k) plans)
- Safe Harbor Compliance (for 401(k) plans)
- Contribution Deductions (404)
- Annual Deductions and Limits (415)
- Top Heavy Testing (416)
- Coverage Testing (410(b))
- Nondiscrimination Testing (401(a))
- Required Notices (Safe Harbor, QDIA, Etc…)
- Form 5500 and Schedules (Signature Ready)
- Summary Annual Report
- Review Timeliness of Deposits (for 401(k) plans)
- Evaluate a current plan to streamline administration or conduct operational compliance review.
- Plan re-design to take advantage of changes in the law or changes in employee demographics.
- Keep current with changes in the law that may affect your plan.
- Plan amendments, restatements, mergers and spin-offs.
- Assist with IRS and DOL audits.
- Assist with independent CPA audits (plans with more than 100 participants).
- Consult with CPAs regarding plan contributions and deduction limits.
- Assist with correction of compliance violations.
For more information on retirement plan administration, please call 800-821-3812.
Stephen Eldridge & Company, Inc. provides third-party administration of company retirement plans and benefits consulting as a separate entity from Eldridge Investment Advisors.