Plan Administration

Ensuring that your plan remains compliant

Sponsoring a retirement plan can be an administrative nightmare for most employers. LRS performs all Retirement Plan administration tasks, including an enhanced service, where LRS interacts directly with the plan sponsor’s employees to ensure all Retirement Plan administration is performed thoroughly and timely.

Our Retirement Plan Administration service includes the following employer tools and employee disclosures where applicable:

  • Plan selection and election services
  • Employer calendar containing deadlines for plan activities
  • Employee enrollment and participant account set-up
  • Plan amendments
  • Summary of material modifications
  • Assisting fiduciaries with plan investment options
  • Updated summary plan descriptions
  • Participant account statements
  • Distribution disclosures
  • Loan administration
  • Employer deferral notices
  • Matching of employee contributions
  • Collecting and providing investment materials and fees
  • Establish administrative accounts and participant accounts as needed
  • Document management system design for proper in-house Retirement Plan administration
  • Plan asset rollover services (in/out)
  • Contributions limit disclosure
  • Bond set-up
  • Special services required by plan elections
  • And More!

HOW IT WORKS

PLAN AMENDMENTS

Laws change frequently and plans need to be amended to comply with the most recent requirements. We'll 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'll make sure your plan stays compliant by taking care of the work and updating you with the results.

RETROACTIVE AMENDMENTS

Despite everyone's best efforts, mistakes can happen. If they do, LRS can help you correct the problem and retain the benefits of your qualified plan, before the IRS or other agencies get involved.

Even with the best intentions, fiduciary and operational violations can occur with a company sponsored retirement plan. Let LRS take the stress out of compliance to changing regulations by doing it for you. 

LRS’s compliance programs are designed to ensure that plan fiduciaries comply with their obligations, protect plan assets, and minimize personal and financial liability wherever possible.

What We Can Do For You

  • Plan audit and correction services
  • 415 Compensation testing
  • 416 Top-heavy and ACP/ADP testing avoidance
  • 410(b) Discrimination testing
  • 404 Maximum deductions
  • Employer contributions 
  • Fiduciary fee evaluation services
  • Prohibited transaction and other fiduciary violation corrections
  • Reasonable cause letters for delinquent filers
  • Evaluation of plan mergers in compliance with the growing governing law and fiduciary prudence standards
  • Support for hard to value plan assets – qualified employer securities and qualified employer real property
  • Disaster Recovery Service for documents and legacy records
  • Any other necessary compliance activities required by a particular plan


We will also prepare and coordinate the submission of the plan to correction programs including: the Internal Revenue Service’s self-correction program (SCP), voluntary correction program (VCP), audit closing agreement program (Audit CAP), the U.S. Department of Labor’s delinquent filer voluntary correction program (DFVCP) and voluntary fiduciary correction program (VFCP)

Let us design a plan to meet your company's goals

206.430.5084  |  800.974.2814  

REQUEST A CALL

Website Design