Third Party Administration & Plan Compliance
Employer-sponsored retirement plans are complex, requiring effective communication and accountability between the investment record-keeper and the plan’s third-party administrator (TPA). P&A Retirement Plan Services provides complete administration and testing services, and we work with a variety of third-party record-keepers.
TPA services include:
- Initial plan design
- Document preparation and maintenance to keep the plan compliant with changing regulations
- Interpretation of plan documents to perform services in accordance with the document provisions
- Performing all required discrimination tests including 410(b), Top Heavy, ADP/ACP, Qualification, Ratio and Percentage Benefit tests, 415 Limits, and aggregate tests (as applicable)
- Preparing the annual report and signature-ready 5500 in accordance with IRS regulations
- Preparing the annual 1099-R, 1096, and 945 forms
- Enhanced IRS or Department of Labor audit preparation and representation
- Processing all distributions (loans, hardships, terminations, etc.)
Our administrative staff is currently certified by The American Society of Pension Professionals & Actuaries (ASPPA) with certifications that include Plan Administrator 1 (PA1), Plan Administrator 2 (PA2), Daily valuation 1 (DV1), and Daily Valuation 2 (DV2). Administrators are also at various stages of completing coursework for the QKA and QPA designations through ASPPA.