A Leader in Retirement Plan Design, Implementation, Administration & Consulting for Your Small Business.
Retirement Programming Ltd. provides Administrative and Consulting Services to small Business Owners on Long Island who Sponsor qualified 401(k), Profit Sharing and Defined Benefit Retirement Plans.
Retirement Programming is staffed by experienced professionals who can assist Plan Sponsors with the operation of their tax qualified retirement plan whether plan assets are managed by an outside Money Manager or the Plan Sponsor directly.
We assist Employers with maintaining their qualified status and promptly respond to Employer inquiries due to up-to-date technology and secure web portals. This allows for immediate access to all data which may be necessary for Retirement Programming to deliver quality services on time and at a reasonable cost.
Retirement Plan Design
We discuss all details, goals, objectives, employee data and demographics with the Client to determine the best plan design. Based on the results of our "fact finding mission", we will present the details of different plan scenarios to determine which design best meets the needs of the Client. We will review the options with the Client, their Accountant, and Financial Advisors to assist with selection of the plan which best suits the Client's needs and goals.
During this design process, we offer cutting edge, up to the minute plan design to maximize Owner benefits as allowed by Regulations.
Retirement Plan Implementation
Once the plan design has been determined, we will establish the Plan via one of the following forms of Document: Volume Submitter and Trust Documents, Standardized / Non-Standardized Adoption Agreements.
We will also prepare all employee disclosure notifications such as the Summary Plan Description and Safe Harbor notices. If the plan to be established is a safe harbor plan, we will provide the employee notices 30 -90 days prior to the effective date of the safe harbor provision.
Retirement Plan Administration
- Each year we review the plan's overall performance inclusive of Legislative and Regulatory aspects of the changing trends and the impact they have on your tax qualified plan
- We request and update employee records via our secure web portal to determine eligibility, contributions, account balances, applicable tests as prescribed by regulations, normal retirement benefits, accrued benefits, vested benefits, etc.
- Determination of benefits for terminated, disabled, deceased and retired participants based on the provisions of the plan
- Annual Valuation Report inclusive of eligible participants, summary of plan provisions, contribution allocations, vested benefits, account balances, projected normal retirement benefits, accrued benefits, etc.
- All applicable coverage and non-discrimination tests inclusive of Sections 401(a)(4), 410(b), ADP / ACP, 401(a)(26), 404, 415, etc.
- Employer and Employee account balance reconciliations for 401(k) and profit sharing plans with individual account balances as well as allocation of earnings for plans with pooled investment accounts
- Preparation and processing of Distribution Election Statements for all terminated, disabled, deceased and retired participants
- Section 415 calculations
- Top heavy testing
- New Comparability Testing
- Safe Harbor Resolutions and Notices
- Preparation of participant benefit statements to be distributed to participants annually
- Preparation of the appropriate Form 5500 Series Annual Return/Report and related schedules which are to be electronically filed with the Department of Labor inclusive of Form 5500, Form 5500-SF, Schedule A, Schedule I, Schedule SB and related attachments
- Preparation of Form 8955-SSA which informs the IRS of plan participants who were separated from service but who did not receive their vested benefits
- Preparation and filing of the applicable forms with the PBGC for Defined Benefit Plans. This form is filed with the Pension Benefit Guaranty Corp as insurance to guarantee participants will receive their benefit under the pension plan
- Preparation of the Summary Annual Report / Annual Funding Notice to be distributed to each plan participant
- Plan Terminations
- IRS / DOL Audits
We provide consulting services to assist the client as they navigate through the many questions they may have regarding the operation and future direction of their retirement plan. This would include changes in plan design due to business transformations, economic downturns / upturns, changes in employee criteria, demographics, Ownership, and any and all aspects of Plan Compliance and Operation.
Call Retirement Programming Ltd. today at (631) 727-3631 to discuss your retirement planning needs.