Consulting Actuaries Incorporated - Actuaries and Employee Benefit Consultants

 

 



Our Services

Because Consulting Actuaries Incorporated is a full service consulting and administration firm, partnering with us ensures that the needs of the plan sponsor and its employees will be met. We offer a full range of retirement plan services. Click below for details of the services provided.

Plan Design and Implementation
Defined Contribution Plan Recordkeeping and Administration
Defined Benefit Plan Actuarial Services and Administration
Annual Compliance Testing and Government Reporting
Consulting Services

 


Plan Design and Implementation

Selecting, customizing and implementing a plan can be a complex process. The professional staff of Consulting Actuaries Incorporated guides the plan sponsor through each step of the process including:

  • Designing a plan tailored to meet the needs and objectives of the owners, employees, and the business itself.
  • Reviewing the existing plan provisions and recommending changes to fully meet the goals and objectives of the plan sponsor.
  • Reviewing the plan sponsor’s controlled group and/or affiliated service group situation.
  • Coordinating all aspects of plan implementation, including:
    • Preparing the plan documents as required by the IRS.
    • Preparing the request for an IRS determination letter, if applicable.
    • Preparing the Summary Plan Description that is required to be distributed to plan participants.
    • Preparing customized enrollment and administrative materials.
    • Conducting employee meetings to communicate the provisions of the plan.

Defined Contribution Plan Recordkeeping and Administration

Consulting Actuaries Incorporated performs the following services in order to provide smooth and efficient plan operation for a Defined Contribution Plan:

  • Determining employee eligibility and plan entry.
  • Determining eligibility for allocation of employer contributions and forfeitures.
  • Determining the allocation of employer and employee contributions.
  • Determining the allocation of plan earnings and forfeitures, where applicable.
  • Maintaining participant vested percentage records.
  • Distribution processing: Calculating the distribution amount, preparing the required distribution notices, release forms, and IRS Form 1099-R.
  • Loan processing: Determining the loan amount available, setting up the loan accounts, preparing the promissory note and amortization schedule, and tracking loan repayments.
  • Hardship withdrawal processing: Determining the amount of hardship distribution available, and preparing application forms.
  • Reconciling trust accounts.
  • Preparing customized participant statements, where applicable.
  • Monitoring participants who are required to receive age 70˝ distributions.

Defined Benefit Plan Actuarial Services and Administration

The professional staff of Consulting Actuaries Incorporated has the expertise and up-to-date technology to provide the necessary actuarial and administrative assistance to manage a Defined Benefit Plan:

  • Determining employee eligibility and plan entry.
  • Determining eligibility to receive benefit accrual.
  • Maintaining participant vested percentage records.
  • Preparing annual actuarial report and certification.
  • Preparing actuarial determination of required employer contributions.
  • Preparing FAS 106 calculations for post-retirement benefits
  • Preparing individual benefit statements.
  • Distribution processing: Calculating the distribution amount, preparing the required distribution notices, release forms, and IRS Form 1099-R.
  • Reconciling trust accounts.
  • Preparing customized participant statements, where applicable.
  • Monitoring participants who are required to receive age 70˝ distributions.

Annual Compliance Testing and Government Reporting

The professional staff of Consulting Actuaries Incorporated has the knowledge and expertise to help keep the retirement plan in compliance with federal laws and regulations and, should violations occur, provide the plan sponsor with methods of correction. CAI provides the following services, where applicable:

  • ADP/ACP testing (for 401(k) plans only).
  • Preparing contribution deductibility calculations (IRC §404).
  • Annual additions testing (IRC §415).
  • Coverage Testing (IRC §410(b)), for single plans and combined plans.
  • Non-Discrimination Testing (IRC §401(a)(4)), for single plans and combined plans.
  • Top heavy testing (IRC §416).
  • Preparing the IRS Form 5500 and related schedules.
  • Preparing the Summary Annual Report for participants.
  • Preparing the PBGC forms (for defined benefit plans only).

Consulting Services

The professional staff of Consulting Actuaries Incorporated has the knowledge and expertise to provide on-going consulting services for the retirement plan. To ensure the plan continues to meet the needs and objectives of the owners, employees, and the business itself, CAI provides the following services, where applicable:

  • Preparing plan amendments to change the plan design.
  • Preparing plan amendments to accommodate a company merge and/or dissolution.
  • Coordinating all aspects of plan termination.
  • Assisting with IRS, DOL, and PBGC audits.
  • Providing assistance with plan design changes.
  • Designing and reporting for non-qualified retirement plans.
  • Preparing benefits valuation for marital estate purposes.
  • Offering expert testimony in all matters involving qualified retirement plans.
  • Offering year-round availability of highly qualified and experienced staff to answer questions and provide consulting support.
  • Preparing special plan or participant benefit studies or projections.


330 Passaic Avenue, Suite 100, Fairfield, NJ 07004-2009  ·  phone: (973) 575-1100  ·  fax: (973) 575-1511