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
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.
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