It takes a great deal of work to set up a 401(k) plan. When initial enrollment is over, the Plan Sponsor’s work has just begun!
We manage a number of tasks, large and small:
Verify enrollment eligibility of each new hire
Monitor employer match vesting
Review and confirm participant loans
Review and confirm distributions and withdrawals (all the more important in this age of cyber fraud)
Ongoing administration tasks, including participant notices, Plan updates, Summary Plan Description review and distribution to participants
Review and sign all required government forms
The experts at The Fiduciary Studio have spent decades in the retirement services industry, and we know how demanding these tasks can be. Many Plan Sponsors don’t fully understand the arcane terms (QDROS? Safe harbor? QDIA? SMM? RMDs?) and worry they’re putting their employees, organization, and even themselves at risk.
Our 3(16) Administrator Premium Service takes the work – and much of the risk – off the table.
No time to check all the boxes on auto-enrollment, vesting percentages, and participant loans and distributions?
We take care of that for you.
Unclear about RMDs (and all that jargon)?
Got that too. We know what’s needed, and review and confirm that every transaction and notice is properly handled.
Not exactly sure what you’re signing when you put your John Hancock on that Form 5500?
We’re on it. With our Premium service, we’ll even review and sign your 5500 and 8955-SSA for you.