Administration of a retirement plan involves adherence and compliance with technical IRS and Department of Labor regulations, which are rapidly changing. Many employers find themselves looking for a quality Third Party Administrator (TPA) firm.
Prime Pensions Northwest (PPNW) delivers a thorough, methodical and organized approach to meet the demand for back office support of a retirement plan.
The starting point for any successful retirement plan is to design a plan to meet an employer’s objectives for sponsoring the plan. Plan document design, drafting, maintenance and operational compliance are critical to maintaining the tax qualified status of the plan. Adherence to the terms of the document will allow the employer to steer clear of costly and time-consuming corrections and penalties. Moreover, the link between design and operation will produce expected outcomes for the plan sponsor and participants.
Our design service incorporates fundamental knowledge of the relationship between employee compensation, plan contributions and tax deferrals. We will design a 401(k), Match and/or Profit Sharing plan to meet your employee compensation and benefits specifications.
PPNW will assign a single Administrator to deliver primary support and service. The basic services delegated by the Plan Sponsor to a PPNW Administrator are:
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