• Plan Design and Implementation
• Annual Administration
• Consulting Services

Plan Design and Implementation

Selecting, customizing and implementing a plan can be a complex process. Our professional staff will guide you through each step of the process including:

• Design a plan tailored to meet the needs of the owners, employees and the business itself.
• If we are taking over a plan already in existence, we will review the existing plan provisions and recommend changes to fully meet the employer's goals and objectives.
• Prepare plan documents as required by the IRS.
• Prepare the Summary Plan Description that is required to be distributed to plan participants.

Annual Administration

We perform the following services in order to provide smooth and efficient plan operation:

• apply the eligibility requirements of the Plan to the employee census information to determine which employees are eligible to participate in the Plan;
• calculate benefit amounts and range of contributions permissible;
• if applicable, allocate contributions and earnings to participant accounts;
• perform any required testing to show that the Plan is not discriminatory and meets coverage testing, as required under Internal Revenue Code sections 401(a)(4), 410(b), 401(a)(26), 401(k), and 401(m), and make recommendations to you as needed on ways to comply with these Code sections;
• perform section 415 limitation test;
• perform top heavy test;
• determine the amount to be distributed to terminated or retired participants, and prepare the necessary forms for their signature;
• calculate minimum distributions to participants who are age 70 ½ and older;
• prepare paperwork for hardship or other in-service withdrawals;
• prepare annual or quarterly statements for the participants;
• determine participant vesting percentages;
• prepare a signature-ready Form 5500 with all applicable schedules.
• prepare Form PBGC Premium Filing Form;
• prepare the Summary Annual Report to distribute to all participants;
• prepare the Annual Funding Notice to distribute to all participants;
• upon request each year, prepare Forms 1099R, 945 and 1096 to report distributions and taxes paid from the plan;
• provide a representative from Abar Pension Services, Inc. to answer questions over the phone that you may have regarding the Plan.

Consulting Services

• Plan amendments, terminations and mergers.
• Assist with IRS and DOL audits.
• Provide assistance with plan design changes.
• Conduct special plan or participant benefit studies or projections.