Tuesday, 29 January 2019

Monitoring Plans

Retirement plans require a continuous on-going effort to monitor compliance with the Employee Retirement Income Security Act of 1974 (ERISA), the Internal Revenue Code, and other laws and related government regulations. The objective is to avoid non-compliance issues, but should they arise, analyze the available correction alternatives and make recommendations where appropriate.

The annual compliance testing involves monitoring plans for compliance with non-discrimination rules, including ADP and ACP testing, and minimum coverage testing under IRC 410(b). Monitor your Plan's compliance with contribution and benefit limitations under IRC 415 and 402(g), top-heavy status under IRC 416; and where required, perform complex average benefits percentage testing under 410(b) and general testing under 401(a)(4).

RetirementAssets.com's reporting services include signature-ready IRS form 5500 with supporting schedules; Summary Annual Reports; and, 1099 issuance for Plan Distributions.

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