& Compliance

Administration & Compliance

When accuracy counts above all else…

The IRS and Department of Labor afford very specific tax advantages to qualified retirement plans. And, yes, there is a catch. For a plan to achieve and retain its “qualified” status, the plan must adhere to myriad rules and regulations which are applied through the on-going annual administration and compliance testing process.

This is where every detail counts. This is where our experts excel.

Designing the right plan for you and your business is important. Administering the plan accurately is critical. Let’s be honest, the administration of your plan is the stuff that makes eyes glaze over. You just want it done right. We get that.

You’ll rest easy knowing that the Michigan Pension & Financial team lives and breathes the details of plan administration and compliance. We’re experts. Our team will ensure your plan not only operates smoothly, but accurately and in compliance with all of the latest rules and regulations. It’s one less thing you have to worry about.

Annual Administration

We manage the annual administration cycle in conjunction with your chosen recordkeeper. We will track all the census and compensation details to ensure accurate compliance testing at year end. We also assist with distribution, withdrawal and participant loan requests to ensure each is done right and in compliance with appropriate regulations.

In the event of a plan audit, our experts will be at your side providing the necessary plan information, reports and assistance to facilitate a smooth process with the plan auditors.

And, finally, we will prepare and file your IRS Form 5500 and all applicable schedules or accompanying forms to – again – ensure your plan remains compliant.

Compliance Testing

For 401(k) plans, the Actual Deferral Percentage (ADP) and Actual Contribution Percentage (ACP) nondiscrimination tests are one of the most visible aspects of maintaining your plan’s compliance status. Here again, we’re the experts. Not only will we manage the ADP/ACP testing process, we will offer proactive advice and ideas for improving your situation to maximize contributions where applicable.

We also have staff who have achieved and maintain the Enrolled Retirement Plan Agent (ERPA) designation who are authorized to represent our clients before the IRS should the need arise. This is another example of our deep commitment to meeting your needs and helping you manage your retirement plan with a minimum of effort.

Expert skill and attention to detail are the elements of a winning strategy for your retirement plan.