Services
A qualified retirement plan is required, through its plan administrator and trustees, to report specific activities to the IRS, the Department of Labor, the Pension Benefits Guaranty Corporation and the plan's participants. In addition, federally regulated retirement plans may require consultation services for specific compliance issues and/or correction of operational failures. Our services include:
Plan Implementation
Employee Communication
Annual Administration
Compliance Consulting
Plan Termination
- Plan Implementation
Plan Design-Feasibility Analysis
Typically, preparation of a design-feasibility analysis is the initial phase for clients. This process requires expertise in all types of qualified retirement programs. Trinity Pension Group's role is to gather the necessary employee census data and numerically demonstrate the advantages and disadvantages of each program. Together with data analysis and a clear understanding of the client's corporate objectives, a specific plan design is then selected for the client.
Plan Document Installation
Once plan design is determined, the next step is implementation. Implementation involves preparation and client delivery of the necessary documents to begin the program. Regarding the installation process, Trinity Pension Group will prepare the following:
- Plan and Trust Document
- Application for a federal employer identification number
- IRS determination Letter Filing Forms
- Employee Communications
- On-going Administrative Forms
back to top... - Employee Communication
Frequently, employers request their third party administrator to communicate the plan design features during the implementation phase to their employees. In addition, subsequent reenrollment meetings may be scheduled which require communication of benefits. When requested, the consultants of Trinity Pension Group are prepared to meet this need.
back to top... - Annual Administration
Annual administration will typically include all services required throughout the plan year as well as year-end reporting requirements. These services might include calculation of employer contributions, certification of employer contribution by an enrolled actuary, allocation of employer and employee contributions, participant benefit certificates, top heavy testing, discrimination testing, distribution processing along with other consulting or reporting disclosure services.
back to top... - Compliance Consulting
When laws change, clients want to know how the new laws will affect their plan. Trinity Pension Group's consulting professionals will assist the plan sponsor to ensure their plan design is still appropriate as well as review other options in the event corporate objectives change.
back to top... - Plan Termination
Terminating a qualified retirement plan can be a lengthy and involved process. Trinity will consider the uniqueness in design coupled with the circumstances to determine the appropriate process for a plan termination. The Compliance Division of Trinity Pension Group will review each situation in order to prepare a termination package communicating the plan's options, the process, the estimated number of hours for calculations, research and filing purposes as well as disclose any applicable IRS fees.
back to top...