Client Services Area
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Salary Deferral and Catchup Limits
Plan sponsors of pension and profit sharing plans need timely, accurate and cost effective plan administration. In addition, ASG recognizes that a plan sponsor needs consulting and administrative expertise to fit the retirement plan(s) into their overall benefit programs. If a plan sponsor has other retirement plans, or owns several businesses, or has other special needs, ASG can provide a full range of consulting and administrative services to be sure that the retirement programs continue to meet the company’s objectives while remaining in compliance with the rules and regulations of ERISA, the Internal Revenue Service and the Department of Labor.
In addition, we have utilized the latest in computer technology and software to offer all of the “bells and whistles” which plan sponsors have come to expect of their actuarial and plan administration firms.
Services offered - All Plans:
- Preparation of plan documents, including Summary Plan Description for plan participants and submission of plan to IRS for approval
- Calculation/allocation of employer contribution, including matching contribution
- Perform actuarial valuations, including preparation of Schedule B and PBGC-1 forms
- Determination of eligibility, vesting and benefit service
- Maintain financial records and data on plan investments
- Calculate termination, disability, death and retirement benefits, as necessary
- Top heavy testing, coverage determination and 415 maximum benefits testing
- Prepare annual Form 5500 and related schedules
- Prepare annual current and projected benefit statements for participants
- Employee Communications Services
- Incentive and Deferred Compensation Program Design
In addition, for 401(k) Plans:
- Average Deferral Percentage (ADP) and Average Contribution Percentage (ACP) testing
- Maintain lifetime to date contribution information on each participant
- Safe Harbor and New Comparability calculations
In addition, for Employee Stock Ownership Plans:
- Maintain cumulative cost value of Employer stock for each participant
- Track leveraged stock suspense account and dividend allocation