Employee Benefit Plan Consulting

Our years of experience have given us a thorough understanding of the financial reporting, plan administration, and compliance requirements to which benefit plans are subject, enabling us to ask the right questions in identifying and resolving plan documentation or operational concerns that may arise throughout the year and lead to potential issues.

Our full suite of consulting services provides a range of opportunities to council and assist clients in offering recommendations and insight on ways to improve or enhance the internal administration, operations, and design of their plans. We provide expert-level council on:

Plan feasibility analysis (profit sharing, 401(k), cash balance, etc.) – assisting with recommendations on plan set-up and contribution projections

Plan design analysis and consulting – initial plan set-up and review of plan provisions and ongoing consulting on future legislative and regulatory updates

Review of plan documents (initial, restatement, and/or amendments) – provide recommendations to achieve goals and objectives

Consult on fiduciary education and committee oversight – including fiduciary governance such as fiduciary roles and responsibilities, developing proper procedures, training of fiduciaries and plan management, documentation requirements, etc.

Consult on internal control processes and procedures – assist with documentation and walkthroughs of internal and third-party service provider processes and procedures

Consult on plan administration or operational issues – identify and provide recommendations on correcting plan administration or operational issues

Consult on and prepare IRS and DOL correction program submissions – late Form 5500 filings, late contribution deposits, administration and operational failures, document failures, etc.

Provide representation for an IRS or DOL notice and/or examination – provide assistance including information gathering and representation in the event of an IRS or DOL inquiry

Form 5500 preparation for retirement plans

Form 5500 preparation for health and welfare plans

Consult on plan mergers and acquisitions – assist with the due diligence process and timing of a merger/acquisition candidate’s employee benefit plan including final reporting requirements of a predecessor plan

Consult on plan terminations – assist with the wind-down of a plan including final benefit payments and Form 5500 filing requirements

Consult on control group and affiliated service group issues – for clients with multiple interests in various entities and/or in acquisition mode

Provide a compliance review for a plan (<100 participants) that is not currently subject to an audit requirement or is on the threshold of needing an audit – provide review of annual testing, contribution allocations, plan design, plan documents, reporting and documentation requirements, etc. and provide recommendations regarding an initial audit of the plan and related processes

Provide fee benchmarking and analysis – review of all plan-related expenses to industry norms

Consult on service provider selection – review of third-party administrators, recordkeeping platforms, investment advisory firms, etc.

Ready to Get Started?

Benefit from the peace of mind you will have from working with an experienced leader in the employee benefit plan industry. Learn more and discuss your unique needs by contacting one of our employee benefit plan professionals.