Draft and design qualified plan documents and trust agreements, including amendments and restatements, to comply with law and regulations or client requests.
Develop and review summary plan descriptions.
Draft deferred compensation plans, including non-qualified executive compensation and stock option plans.
Draft welfare benefit plans, including cafeteria plans, medical reimbursement plans, dependent care assistance plans, and health care plans.
Draft affiliate adoption statement.
Draft administrative documents, including notification of participation, election to participate, beneficiary designation, qualified joint and survivor annuity and qualified pre-retirement survivor annuity waivers and application for benefits, and election to contribute.
Draft summary annual report.
Draft benefit and/or compensation statement.
Draft loan request forms, including consents, if appropriate, and purpose of loan verification for participant loans.
Draft board of directors resolutions for plan adoption, adoption of amendments, contribution amounts, and other actions required to be taken by the board.
Draft and file application for IRS determination letter.
Assist client in preparing and filing annual report (5500 series and related schedules).
Monitor progress of new plans and amendments to verify required actions occur on schedule.
Review and interpret regulations issued by government agencies to determine their application and relevance to client plans.
Assist in preparing and coordinate general notice mailings to clients about potential impact of new legal developments upon plans.
Research interpretive questions on prohibited transactions for qualified and non-qualified plans.
Calculate employer contributions and forfeitures and allocate to participant accounts.
Determine earnings adjustments and allocate to participant accounts.
Calculate participants' years of service of eligibility and vesting.
Calculate benefit for terminated participants.
Test pension plan for discrimination, top-heaviness and 26 U.S.C. § 425 limits (i.e., plans that have a large proportion of highly compensated employees must be fair to lesser compensated employees).
Maintain plan as follows
Pay termination benefits to terminated or retiring employees.
Pay loan proceeds and track loan repayments.
Deposit employee and employer contributions to accounts.
File IRS Form 1099's for payments made.
Pay hardship withdrawals.
Arrange for establishment of pension payroll.
Track accounts to ensure investments are in accordance with investment elections.
Review account for updating and revisions to conform with new tax laws.
Determine highly compensated employees for purposes of average deferral
percentage/average contribution percentage (ADP/ACP) testing in connection with pension
plans.
Monitor IRS reporting and disclosure deadlines.
Draft responses to questions raised by the IRS.
Draft required Pension Benefit Guaranty Corporation (PBGC) filings (i.e., PBGC-1s and notices of intent to terminate).
Draft or review qualified domestic relations orders.
Provide recommendations about payment options for participants and beneficiaries.
