YOUR RETIREMENT PLAN ADMINISTRATOR
We specialize in the administration of retirement plans for businesses nationwide. Our success is based on your retirement plan’s performance. We develop TPA solutions that are effective and that maximize your benefit as a business owner, at an affordable cost. We are responsible, proven plan administrators that can help make a complex process easier. We also offer 3(16) plan administration and fiduciary services to help prudently manage the plan and relieve the employer of daily fiduciary responsibilities.
Our Retirement Plan Designs Administered
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Defined Contribution Plans
A defined contribution pension plan consists of contributions made by the employer, employee or both to the employee’s individual account. The contributions are generally invested on behalf of the employee. At retirement, the employee will receive the balance in his or her account, which is based on contributions and investment gains or losses.
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Traditional 401(k) plan
A 401(k) allows employees to contribute a portion of their compensation, before income taxes, to a company-sponsored retirement plan. There are several types of 401(k) plans, including SIMPLE 401(k), Safe Harbor 401(k), Solo 401(k), Roth 401(k), and traditional 401(k).
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Safe Harbor 401(k)
A Safe Harbor plan is ideal for employers that wish to eliminate the burden of the discrimination testing associated with the traditional 401(k) plans.
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SIMPLE 401(k)
A SIMPLE 401(k) is a retirement plan for companies with 100 or fewer employees. SIMPLE 401(k) plans are similar to traditional 401(k) plans but require less administration and fewer fees for the employer.
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Solo 401(k)
A Solo 401(k) is a retirement savings plan specifically designed for self-employed business owners and their spouses, with no other eligible employees.
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Cross-Tested Plan
A cross-tested plan is a retirement plan (usually a profit-sharing plan) that has different contribution percentages for different groups of employees.
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Money Purchase Plan
A money purchase plan is similar to a profit-sharing plan, except that it requires fixed annual contributions. The employer must contribute the required amount on time or pay penalties.
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Profit Sharing Plan
A Profit Sharing plan is a plan that gives employees a percentage of company profits based on each year’s company earnings.
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457(b) Plan
A 457(b) plan is offered to state and local government employees, including police officers, firefighters, city or county workers, water authority employees or other civil servants.
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403(b) Plan
A 403(b) plan is for tax-exempt organizations, most employees of public schools and self-employed religious ministers.
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Defined Benefit Plans
A defined benefit pension plan promises a specific monthly benefit at retirement — either an exact dollar amount or an amount calculated from a formula based on certain factors, like salary and years of service.
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Cash Balance
A Cash Balance Retirement plan defines the promised retirement benefit as a stated account balance and does not hinge on the value of the plan’s investments. The employer solely assumes the investment risks and rewards on plan assets.
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Frozen Defined Benefit
A Frozen Defined Retirement Plan, also known as a “preserved pension,” is a workplace pension into which the employee may no longer make contributions.
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Solo Defined Benefit
A solo defined benefit plan is sometimes ideal for sole proprietors with high earned income. The employer makes 100 percent of the contributions, which are generally 100 percent tax-deductible.
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Multiple Employer Plan (MEP)
A multiple employer plan (MEP) is a retirement plan structure available to more than one employer, who are also members of a bona-fide group or association. These employers typically benefit from economies of scale and reduced fiduciary liability.
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Multiple Employer Aggregation Programs (MEAP)
Multiple Employer Aggregation Programs (MEAP) is a group 401(k) program designed and made available for an organizations’ members or clients.
The MEAP is designed to gather each plan’s important administrative, recordkeeping and fiduciary services to be overseen by a third party, typically a 3(16) administrative and 3(38) investment fiduciary.
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TRA Plan Design & Administrative Services
• Plan design & consulting
• Flexible plan design options
• Summary plan descriptions
• Prototype & custom plan documents
• Full conversion & implementation services
• Core compliance services
• Signature-ready form 5500
• Discrimination testing: ADP/ACP
• IRC 415(c) limitations (100%/or contribution limits)
• Monitoring of elective deferrals (402(g))
• Top-heavy testing (416(c))
• Integrated payroll services
• Online administrative resources
