With other providers, sponsoring a retirement plan can be a burden. At LRS, we make securing a future for you and your employees as easy as possible.
We support a wide range of plan types. These include 401(k), 403(b), Defined Benefit, Church Plans, Cash Balance, Money Purchase, MEPs, and PEPs. LRS handles all retirement plan administration tasks and interacts directly with your employees to ensure every aspect of your plan is managed thoroughly and on time.
HOW IT WORKS
PLAN AMENDMENTS
Laws change frequently and plans need to be amended to comply with the most recent requirements. We make sure your plan is current by keeping ourselves up to date on all IRS and Government changes.
RESTATEMENTS
A plan using a custom document must generally be restated every 5 years based on the company’s federal ID. We make sure your plan stays compliant by taking care of the work and updating you with the results.
RETROACTIVE AMENDMENS
Despite everyone’s best efforts, mistakes can happen. If they do, we can help you correct the problem and retain the benefits of your qualified plan, before the IRS or other agencies get involved.
Plan Administration Tools & Disclosures
Plan Administration Tools & Disclosures
Our retirement plan administration service includes the following employer tools and employee disclosures:
Plan Setup & Selection
- Plan selection and election services
- Special services required by plan elections
- Bond set-up
- Plan asset rollover services (in/out)
Employer-Focused Administration
- Employer calendar containing deadlines for plan activities
- Employer deferral notices
- Matching of employee contributions
- Document management system design for proper in-house Retirement Plan administration
- Assisting fiduciaries with plan investment options
- Collecting and providing investment materials and fees
Employee Enrollment & Account Management
- Employee enrollment and participant account set-up
- Establish administrative accounts and participant accounts as needed
- Participant account statements
- Loan administration
- Distribution disclosures
Compliance & Documentation
- Plan amendments
- Summary of material modifications
- Updated summary plan descriptions
- Contributions limit disclosure
Enhanced Payroll Contributions Services
Enhanced Payroll Contributions Services
We provide enhanced and customized payroll services to reduce the time and effort you put into processing payroll contributions each pay period – saving companies an average of 30 hours per year!
Contribution Support
LRS collaborates directly with payroll providers to simplify contribution management, reducing administrative workload for businesses.
Large Payroll Relief
For larger payroll structures, we efficiently handle contributions across multiple accounts, companies, units, or departments.
Enhanced Calculations
If a payroll solution cannot process company-matching contributions each pay period, LRS steps in to ensure seamless execution.
Just the Basics
Struggling with complex payroll data formats? LRS takes care of manual data entry, making submission effortless.