Annual retirement plan administration and compliance is a large job, and our job is to make sure your retirement plan never becomes a headache. Pinnacle’s team is also aware of the time involved with plan administration. Therefore, we not only assist in many of the day-to-day operational tasks, but also provide the assistance and guidance needed to keep your retirement plan compliant with complex government regulations.
We offer a multitude of retirement plan options designed to meet your specific business needs. Our team of experts is here to personally assist and guide you through the process from retirement plan design to administration. We will collect necessary information from you efficiently, explain issues to you in plain English, and provide you with reports that are easily understood.
We understand you have a business to run, and your retirement plan is not your priority – it’s ours.
Annual plan administration includes the following:
- Collecting employee census data
- Calculating employee eligibility and plan entry
- Allocating employer profit sharing contribution (DC plans)
- Allocating plan forfeitures, if applicable (DC plans)
- Allocating investment earnings (DC plans)
- Calculating benefit accrual (DB plans)
- Preparing the Annual Funding Notice (DB plans)
- Determining and maintaining vesting records
- Reconciling plan assets
- Preparing annual report detailing all activity for the plan year (DC plans)
- Preparing actuarial valuation report — Schedule SB (DB plans)
- Preparing annual employee certificates
- Preparing distribution paperwork for terminated plan participants
- Preparing promissory notes and amortization schedules for articipant loans
Annual compliance testing and reporting includes the following: