Retirement Plan Services

Annual administration of a retirement plan is the detailed process of comparing the plan design and the plan sponsor’s data to determine appropriate coverage, contributions, and reporting requirements under the Internal Revenue Code. At QPS we assign each plan to a dedicated Administrator to prepare the annual valuation and consult on day-to-day operations. Below are the basics of the services provided.

Defined Contribution Plans

  • Assessment of plan sponsor census to verify participant eligibility and vesting.
  • Reconciliation of the information regarding employee and employer contributions, loans, etc. provided on the census with the reporting from the Recordkeeper for each participant in the Plan.
  • Prepare calculations for matching and/or profit-sharing contributions, as requested.
  • Perform annual testing to show that the Plan meets the coverage requirements and that contributions are not discriminatory.
  • Monitoring and processing of Required Minimum Distributions.
  • Preparation of signature-ready Form 5500 and related schedules for electronic filing.
  • Provide Annual Valuation Package via Secure Client Portal. Includes action items and participant deliverables.

Cash Balance Defined Benefit Plans

  • Actuarial Valuation including Discrimination and coverage testing, cross-tested profit-sharing calculation for defined contribution plan (if applicable), determination of funding requirements
  • Preparation of signature-ready Form 5500 and Schedule SB for electronic filing
  • Preparation of PBGC premium filing (if required)
  • Preparation of AFTAP Certification
  • Provide Annual Valuation Package via Secure Client Portal. Includes action items and participant deliverables.
  • Monitoring and Processing of Required Minimum Distributions.

Some of Our Additional Services

  • Assistance with distribution and loan processing
  • Maintain legal documents to meet IRS and DOL requirements, including IRS-Required interim amendments and restatements.
  • Plan sponsor requested amendments
  • Annual Plan Review (either in person or remote) to document that fiduciary responsibilities are being met, and to review any change in regulations, or changes in the business or demographics to ensure Plan Sponsor’s desired goals for the Plan are being met.
  • Consultation: Our staff is available every day for any questions or concerns that may arise at any time during the year

3(16) Administrative Fiduciary Services and Payroll Integration are available. Please contact us for further information!

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