Plan Administration
There’s more to a retirement plan than just making contributions and choosing investments. There are complex IRS and DOL rules and regulations that affect your plan and that you must comply with. That’s where CBA comes in - we monitor and interpret those rules and help make sure your plan stays in compliance at all times.
From the very beginning, we help with the conversion of your plan, or if you don‘t have one, help you design a plan that meets the needs of you and your company. With the help of a conversion specialist, we make sure your plan is set up properly then assign a plan administrator to work with you as your day-to-day contact.
Your plan administrator will become involved in understanding your plan and your company as they work with you. Each year your administrator will gather census information from you in order to complete an annual valuation. This valuation process will include:
• Allocating contributions based on plan document provisions
• Maintaining forfeitures and vesting data
• Comprehensive compliance testing, including ADP/ACP, Section 415, Top Heavy, and coverage testing.
• Preparing the necessary government reports required, ie; Form 5500 and SAR
Throughout the year, your plan administrator continuously reviews changes in laws and regulations affecting your plan and keeps you informed of any new requirements. They are only a phone call away and will gladly spend the time necessary to talk with you about any questions you may have.
Most importantly, CBA does not try to make all our clients fit into our mold of the way we want to do business. We are flexible in working with our customers to find out what works best for them.
All TPAs can perform the necessary testing required to keep your plan in compliance. What makes CBA different is our flexiblility, experienced staff, and willingness to give the personal touch your company deserves.
From the very beginning, we help with the conversion of your plan, or if you don‘t have one, help you design a plan that meets the needs of you and your company. With the help of a conversion specialist, we make sure your plan is set up properly then assign a plan administrator to work with you as your day-to-day contact.
Your plan administrator will become involved in understanding your plan and your company as they work with you. Each year your administrator will gather census information from you in order to complete an annual valuation. This valuation process will include:
• Allocating contributions based on plan document provisions
• Maintaining forfeitures and vesting data
• Comprehensive compliance testing, including ADP/ACP, Section 415, Top Heavy, and coverage testing.
• Preparing the necessary government reports required, ie; Form 5500 and SAR
Throughout the year, your plan administrator continuously reviews changes in laws and regulations affecting your plan and keeps you informed of any new requirements. They are only a phone call away and will gladly spend the time necessary to talk with you about any questions you may have.
Most importantly, CBA does not try to make all our clients fit into our mold of the way we want to do business. We are flexible in working with our customers to find out what works best for them.
All TPAs can perform the necessary testing required to keep your plan in compliance. What makes CBA different is our flexiblility, experienced staff, and willingness to give the personal touch your company deserves.