| The mission of our Employee Benefits Group is to assist employers in maintaining employee benefit programs, customized to meet their needs for their employees. We recognize that employers’ needs vary based upon company size, industry demographics, location and competition for recruiting a skilled workforce. We are available to meet you to review your existing plan and determine your personal and business goals for the future. We can design the plan to maximize owner-related contributions, encourage the broadest base of participation, etc. Our consultants have the experience you need to give a competitive advantage in your hiring process and retaining an outstanding workforce.We believe that the establishment and maintenance of employee benefit plans should not be a burden to the employer. We remove the hassle from the regulatory maze by providing benefit administration services (third-party administration) for 401(k) plans, 401(k) Safe Harbor plans, Profit Sharing plans including Cross-Tested and Age-Weighed, 403(b) plans and Cafeteria or Section 125 plans.Our goal is to assist management in maintaining compliance in today’s constantly changing regulatory environment by offering our expertise combined with our emphasis on client-focused service.
We also provide 401(k) audit services that comply with the ERISA audit and reporting requirements.
Retirement Plans
Annual Plan Services:
- Administration, including:
- Review of census information and determination of participant eligibility
- Reconciliation of contributions and trust assets
- Allocation of annual employer contribution/forfeitures
- Vesting calculations
- Preparation of IRS Form 5500, related schedules and Summary Annual Report (SAR)
- Nondiscrimination and compliance testing, including
- ADP / ACP non-discrimination testing – Section 401(k)(3) and 401(m)(2)
- Maximum annual 401(k) salary deferral limit testing – Section 402(g)
- Maximum annual additions test – Section 415
- Compensation testing – Section 414(s)
- Top heavy test – Section 416(c)
- Maximum coverage testing – Section 410(b)
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Plan Design & Consulting Services
- Consultation on plan design – evaluate goals and provide options
- Preparation of plan document
- Preparation of amendments and restatements
- Preparation of summary plan description and summary of material modifications
- Preparation of plan administrator’s guide and forms
Additional Services:
- Enrollment meetings
- Participant communications
- Facilitate rollover contributions
- Tax reporting preparation – Forms 945/1096/1099-R
- Participant distributions, including
- Hardship distributions
- Participant loans
- 70.5 required minimum distributions
Flexible Benefit Section (125) Plans
Plan Set-Up and Installation
- Premium only
- Medical reimbursement
- Dependent care
Miscellaneous Services
- Monthly administration
- Employee seminars
Did you know…?
- Cafeteria Plans are an innovative way for you to save tax dollars.
- Cafeteria Plans allow you to pay medical and dependent care expenses with pre-tax dollars.
- Employee-paid group insurance premiums can also be paid with pre-tax dollars using a Cafeteria Plan.
- You most likely do not need to file Form 5500 for your Cafeteria Plan anymore.
- An employer-sponsored retirement plan is a substantial source of income for today and tomorrow’s retirees.
- A 401(k) plan is a tremendous tool for employees to save for retirement on a pre-tax basis.
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2012 Annual Limits |
2011 Annual Limits |
2010 Annual Limits |
2009 Annual Limits |
| 401(k), 403(b), SARSEP maximum deferral limits |
$ 17,000 |
$ 16,500 |
$ 16,500 |
$ 16,500 |
| Catch Up Contributions for 401(k), 403(b), SARSEP and 457 plans |
5,500 |
5,500 |
5,500 |
5,500 |
| SIMPLE 401(k) Maximum Contribution |
11,500 |
11,500 |
11,500 |
11,500 |
| SIMPLE Catch-Up Contribution Limit |
2,500 |
2,500 |
2,500 |
2,500 |
| Maximum annual additions limit for defined contribution plans |
50,000 |
49,000 |
49,000 |
49,000 |
| Highly Compensated Employee Compensation |
115,000 |
110,000 |
110,000 |
110,000 |
| Key Employee Officer Compensation |
165,000 |
160,000 |
160,000 |
160,000 |
| Annual Compensation Limit |
250,000 |
245,000 |
245,000 |
245,000 |
| Social Security Taxable Wage Base |
110,100 |
106,800 |
106,800 |
106,800 |
| Traditional IRA Limits |
5,000 |
5,000 |
5,000 |
5,000 |
| Catch-up Contribution to IRAs |
1,000 |
1,000 |
1,000 |
1,000 |
| Filing Dates – Retirement Plans |
| If your plan year end is: |
Then you must file the 5500 by: |
Excess Contributions must be removed by: |
Profit Sharing Contributions must be made by: |
| 1/31 |
8/31 |
4/15 |
4/15 |
| 2/28 |
9/30 |
5/15 |
5/15 |
| 3/31 |
10/31 |
6/15 |
6/15 |
| 4/30 |
11/30 |
7/15 |
7/15 |
| 5/31 |
12/31 |
8/15 |
8/15 |
| 6/30 |
1/31 |
9/15 |
9/15 |
| 7/31 |
2/28 |
10/15 |
10/15 |
| 8/31 |
3/31 |
11/15 |
11/15 |
| 9/30 |
4/30 |
12/15 |
12/15 |
| 10/31 |
5/31 |
1/15 |
1/15 |
| 11/30 |
6/30 |
2/15 |
2/15 |
| 12/31 |
7/31 |
3/15 |
3/15 |
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