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Pension Administration Services | Benefits 21 LLC
Pension Administration Services | Benefits 21 LLC
Plan for the future to attract and retain top talent today.
Overview
Friedman's Pension Administration Services Group offers full-service pension administration services within Benefits 21 LLC, a Friedman LLP company serving a range of industries.
Benefits 21 LLC professionals possess deep knowledge and experience administering pension plans to attract and retain top talent and benefit owners and officers.
Service Menu
- Defined benefit plans
- 412(e)(3) defined benefit
- Actuarial services
- Cash balance defined benefit
- Traditional defined benefit
- Defined contribution plans
- 401(k) (including Roth)
- Money purchase
- New-comparability profit sharing
- Safe harbor plans
- Traditional profit sharing
- Typical annual plan administration services
- Allocating earnings and forfeitures
- Allocating employer and employee contributions, preparing allocation reports
- Determining eligibility
- Determining HCEs/key employees
- Fidelity bond review
- Fiduciary exposure review, 404(c) compliance
- Plan asset reconciliation
- Preparing participant statements
- Top-heavy and ADP/ACP non-discrimination testing
- Vesting calculations
- Preparing Forms 5500 & summary annual report
- IRS/DOL compliance issues resolution
- DOL delinquent filer voluntary compliance program
- DOL voluntary fiduciary correction program
- IRS audit closing agreement program
- IRS self-correction program
- IRS voluntary correction program
- Other services
- 404(c) advisory services
- Accounting for defined benefit plans - pension (ASC 715-30)
- Accounting for other postretirement plans (ASC 715-60)
- Benefit distributions including tax-withholding, tax reporting, and 1099-R preparation
- Fiduciary protection advisory services
- Investment policy statements
- Investment review
- IRS/DOL mandated plan audits (provided through Friedman LLP)
- Money manager platforms for 401(k) plans
- Participant enrollment services
- Plan document preparation and compliance
- Plan loan issuance and administration
- Qualified Domestic Relations Order (QDRO’s) preparation
- Third-party fiduciary services
Insights & Events
- January 14, 2019 Proposed changes to the hardship distribution regulations for 401(k) & 403(b) plans
On November 9, 2018, the IRS released proposed amendments to the hardship distribution regulationsapplicable to 401(k) plans (“Proposed Regulations”) that...
Read more - October 23, 2017 IRS Announces 2018 Limits Affecting Qualified Plans
Each year, the IRS announces tax inflation adjustments for the following year. The adjustments are based on changes to the...
Read more - October 28, 2016 Client Alert: IRS Announces 2017 Limits Affecting Qualified Plan
Each year, the IRS announces tax inflation adjustments for the following year. The tax inflation adjustments are based on changes...
Read more - August 2, 2016 SEP, Simple or Traditional Pension Plan: An Employer's Best Option?
When an employer considers establishing a retirement plan for their organization, there are numerous factors to consider. How much will...
Read more
- January 14, 2019 Proposed changes to the hardship distribution regulations for 401(k) & 403(b) plans
On November 9, 2018, the IRS released proposed amendments to the hardship distribution regulationsapplicable to 401(k) plans (“Proposed Regulations”) that...
Read more - October 23, 2017 IRS Announces 2018 Limits Affecting Qualified Plans
Each year, the IRS announces tax inflation adjustments for the following year. The adjustments are based on changes to the...
Read more - October 28, 2016 Client Alert: IRS Announces 2017 Limits Affecting Qualified Plan
Each year, the IRS announces tax inflation adjustments for the following year. The tax inflation adjustments are based on changes...
Read more - August 2, 2016 SEP, Simple or Traditional Pension Plan: An Employer's Best Option?
When an employer considers establishing a retirement plan for their organization, there are numerous factors to consider. How much will...
Read more - October 29, 2015 Alert: IRS Announces 2016 Limits Affecting Qualified Plans
Each year, the IRS announces tax inflation adjustments for the following year. The tax inflation adjustments are based on changes...
Read more - February 19, 2015 February 2015: Pension Insights
A 401(k) plan permits employees to contribute (an “elective deferral”) and invest funds under a company-sponsored plan before federal incomes...
Read more - November 17, 2014 Satisfying the Compliance Requirements for a Plan to Maintain its Tax-Qualified Status
All members of a controlled group are treated as a single employer and the plan must satisfy the following compliance requirements for a plan to maintain its tax-qualified status.
Read more - November 17, 2014 Controlled Groups' Effect on Retirement Plans for Family Owned Businesses
Most business owners make the decision to start up a retirement plan for a specific company and employees in mind. When establishing this plan, owners should be aware of the effects being part of a controlled group of trades or businesses can have on the company. Joint ownership in other business ventures must also be taken into consideration to ensure the retirement plan is compliant with Internal Revenue Service and Department of Labor regulations, as well as addresses minimum coverage, nondiscrimination and plan documentation requirements.
Read more - August 18, 2014 All Qualified Plan Documents Must Be Restated
If you sponsor a 401(k) or other type of defined contribution retirement plan for your employees and use a "pre-approved"...
Read more - May 19, 2014 Why Defined Benefit Plans are Best
The defined benefit plan was the way corporate America first met retirement needs of employees over the age of 65....
Read more - February 24, 2014 What is a New Comparability Plan?
In previous years, choosing a profit sharing allocation method was simple. Pro-rata, percentage of compensation or a formula utilizing the social security wage base just to name a few.
Read more - November 12, 2013 Cash Balance Plans: A perfect fit for seasoned professionals in the services industry
In many instances, professionals in the early years of developing their practices will delay putting funds aside for retirement.
Read more - September 13, 2013 "Safe Harbor" and Deposit of Employee 401(k) Contributions
Although The Department of Labor (DOL) published final regulations on January 14, 2010 (and effective on that date) providing "safe harbor" rules governing timely deposit of employee 401(k) contributions...
Read more