After installation, a retirement plan requires ongoing supervision.
To accomplish this, we will assign a dedicated administrator and an experienced client services team to your plan. This team of experts will tailor their activities to match your needs, working to be as involved as you need them to be.
FRC can simplify your workflow by managing the paperwork associated with a well-run retirement plan. We pledge to deliver not only what is required but also what your business needs to fully benefit from sponsoring a qualified retirement plan.
In addition to managing your retirement plan, FRC offers a suite of services designed to educate plan participants about their retirement plan options and benefits. Additionally, we will assist and support your plan’s investment holder or financial advisors throughout the year.
FRC administrative services include, but are not limited to:
- Providing support with day-to-day retirement plan administration duties
- Assisting with inquiries from plan sponsor, participants, financial advisor, other partners
- Supporting participant inquiries (plan rules, vesting, distributions, loans, etc.)
- Directing the distribution and loan process, including mandatory distributions
- Determining eligibility for plan participation
- Determining highly compensated and key employees
- Comprehensive compliance testing
- Calculating participant vested benefits
- Performing trust accounting
- Preparing benefit and/or account statements for participants
- Preparing Summary Annual Report or Annual Funding Notice
- Providing assistance with annual CPA audit requirement
- Preparing the annual governmental forms, including Form 5500 and related schedules
Florida Retirement Consultants' plan administration is...