Special consulting services are not required on an annual basis but should be utilized on a periodic basis to ensure continued compliance with current law and management objectives. These services typically include:
Notification of law and regulation changes which affect the plan.
Review and analysis of the plan in light of changes in the law.
Actuarial calculations and studies to analyze the impact of plan changes, either as the result of law changes or changes in management's objectives.
Plan redesign including analysis of the existing plan structure, discussions to determine management’s objectives, actuarial work and analysis to meet those objectives, implementation and communication of the changes.
Draft of plan amendments for review by client and counsel implementing changes.
Assistance with the communication to participants of the existing plan and any changes required.
Assistance in the interpretation of the plan provisions and the administration of the plan.
Determination of vested benefits payable to retired, deceased or terminated participants and preparation of required distribution forms/notices for participants.
Preparation of required materials and submissions under the Internal Revenue Service Employee Plans Compliance Resolutions Program (EPCRS).