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Periodic review of fee allocation between plan sponsor and participants
The Core Compliance & Administration Solution
TM
Consulting
Draft a contact list for service providers relating to retirement plans
Maintain Plan Sponsor binder which includes all relevant plan documents and service provider
agreements in order to assist the Plan Sponsor with questions relating to specific plan provisions
Proactive reminders of the following compliance deadlines:
o
Annual census deadline
o
Testing refund deadlines
o
Form 5500 and extension deadlines
o
SAR distribution deadline
o
Excise tax deadline (if applicable)
o
70 ½ distributions
o
Participant Fee Disclosure deadline
o
Plan Sponsor Fee Disclosure deadline
o
Forfeitures (if applicable)
o
Loan Default processes (if applicable)
o
Uncashed check processes
o
Profit sharing contribution deadlines (if applicable)
o
SIMPLE or Safe Harbor Notice requirements (if applicable)
o
Automatic enrollment annual notice (if applicable)
o
Summary Plan Description\SMM mailing (if applicable)
o
Plan limit updates
o
QDIA notice reminder
o
Amendment deadline reminders (if applicable)
o
Memos on Compliance topics such as ERISA Bonds, Tax Savers Credit, Timely Remittance
of Contributions
Preparation of new investment option change communications
Review provider communication or draft participant communication for investment
changes
Review provider paperwork or draft letter of authorization for fund changes
Follow up to ensure investment changes have occurred
ERISA Consulting
Review provider QDIA Notice or draft QDIA Notice (if applicable)
Review provider Automatic Enrollment Notice or draft Automatic Enrollment Notice (if applicable)
Review provider Safe Harbor Notice or draft Safe Harbor Notice (if applicable)
Nondiscrimination testing
Coordinate with service provider that ADP\ACP testing is completed on a timely basis
Review ADP\ACP Testing for consistency with prior years (i.e. HCE’s, %’s if using prior
year)
Review HCE List for reasonableness based on last year's information
Ask client to confirm listing of owners and that all family members are included
Review completed ACP Test to compare current match formula
Ensure correct testing method was applied on ADP and ACP Test (Prior year versus
current year); If prior year testing method used make sure the numbers from last year's
test are being used
Ensure that Employee Deferral 402(g) Test is completed and review for reasonableness
Ensure that Top Heavy 416 Test is completed and review for reasonableness based on
prior test
Ensure that Coverage 410(b) Test is completed and review for reasonableness
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