Pension Design and Administration Services
Associated Financial Consultants has been providing full-service employer sponsored retirement plan administration and consulting since 1989. We assist employers in the design, implementation, administration and communication of a wide range of retirement plans.
Associated Financial Consultants takes the confusion out of plan administration duties and decision making by providing our clients with the consulting and technical service they need. We are committed to maintaining effective state-of-the-art computer systems and applications for administrative procedures which permits us to process our clients work more efficiently and ensures the highest standards of quality.
Our People
Our greatest resource is our team of experienced professionals. Our clients are served by employees who have professional qualifications and whose backgrounds include many years of experience in the pension and retirement field. They are committed to providing our clients with friendly, courteous and responsive personalized service of superior quality.
Our Services
Because we are a full service consulting and administration firm, partnering with us ensures that the needs of you and your employees will be met. We provide a full range of retirement plan services.
Plan Design and Implementation
Selecting, customizing and implementing a plan can be a complex process. Our professional staff will guide you through each step of the process including:
- Review the employer's controlled group and/or affiliated service group situation.
- Design a plan tailored to address the needs of the owners, employees and the business itself.
- If we are taking over a plan already in existence, we will review the existing plan provisions and suggest changes to fully address the employer's goals and objectives.
- Prepare plan documents as required by the IRS.
- Prepare the request for an IRS determination letter, if applicable.
- Prepare the Summary Plan Description that is required to be distributed to plan participants.
- Prepare customized enrollment and administrative materials.
- Conduct employee meetings to communicate the provisions of the plan.
Defined Contribution Plan Recordkeeping and Administration
We perform the following services in order to provide smooth and efficient plan operation:
- Calculate employee eligibility and plan entry.
- Maintain participant vested percentage records.
- With our vendor partners. each payroll is processed allocating contributions and loan payments according to the participant's investment elections, and fund transfers are processed in accordance with participant elections.
- Determine eligibility for allocation of employer contributions and forfeitures.
- Allocate employer and employee contributions.
- Allocate plan earnings.
- Allocate forfeitures, if applicable.
- Distribution processing: Calculation of distribution amount, preparation of required distribution notices, release forms and IRS Form 1099-R.
- Loan processing: Set up of loan accounts, preparation of promissory note and amortization schedule and tracking loan repayments.
- Hardship withdrawal processing: Determination of hardship distribution amount and preparation of application forms.
- Reconcile trust accounts.
- Prepare customized participant statements.
- Monitor participants who are required to receive age 70½ distributions.
Defined Benefit Plan Actuarial Services and Administration
Our firm, in conjunction with the services of an enrolled actuary, has the expertise and up-to-date technology to provide the necessary actuarial and administrative assistance to manage your defined benefit plan:
- Calculate employee eligibility and plan entry.
- Maintain participant vested percentage records.
- Determine eligibility to receive benefit accrual.
- Prepare annual actuarial report and certification.
- Actuarial determination of required employer contributions.
- Preparation of individual benefit statements.
- Distribution processing: Calculation of distribution amount, preparation of required distribution notices, release forms and IRS Form 1099-R.
Annual Compliance Testing and Government Reporting
Our staff has the knowledge and expertise to help keep your retirement plan in compliance with federal laws and regulations and, should violations occur, provide you with methods of correction. We provide the following services, if applicable:
- Contribution deductibility calculations (§404).
- Annual additions testing (§415).
- Top heavy testing (§416).
- Coverage testing (§410(b)).
- ADP/ACP testing (applicable to 401(k) plans).
- Preparation of IRS Form 5500 and related schedules.
- Preparation of Summary Annual Report for participants.
- Preparation of appropriate PBGC form (for defined benefit plans only).
Consulting Services
- Plan amendments, terminations and mergers.
- Assist with IRS and DOL audits.
- Provide assistance with plan design changes.
- Conduct special plan or participant benefit studies or projections.
Additional Topics
Associated Investor Services, Inc.
2699 Stirling Rd, Suite A-200
Ft. Lauderdale, FL 33312 | Map
Tel: (954) 983.5600 Fax: (954) 987.7710
Web: http://www.afc-ais.com
Our Services
- Employee Benefits Design
- Group Health Insurance
- Pension Design & Administration Services
- Registered Investment Advisory Services
- Estate Planning
- Social Security Planning
- Financial Planning
- Retirement Planning
- Life Insurance
- Disability Insurance
- Long Term Care Insurance
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“Partnership is the highest level of client relationships achievable. Trust, accountability, mutual support, truth and effort are the crucial elements that foster a strong, long term relationship.”
Source: Larry Wilson, “Changing the game…”
