LRS’s Retirement Plan Administration service may include some of the following employer tools and employee disclosures:

•     Plan selection and election services
•     Employer calendar containing deadlines for plan activities
•     Employee enrollment and participant account set-up
•     Plan amendments
•     Summary of material modifications
•     Updated summary plan descriptions
•     Participant account statements
•     Distribution disclosures
•     Employee notifications, e.g. required minimum distributions, transfers, distributions, enrollment changes, loans provisions, investment election changes, salary reduction notices, QDIA, QDRO
•     Loan administration including establishing and drafting loan policies and procedures, loan applications, loans, loan processing and qualification limits, and loan payment processing
•     Preparation and administration of in-service and hardship distributions, including QDROs
•     Special plan disclosures
•     402(g) testing
•     Employer deferral notices
•     Matching of employee contributions
•     Collecting and providing investment materials and fees
•     Assisting fiduciaries with plan investment options
•     Establish administrative accounts and participant accounts as needed
•     Termination services including distributions from plan to individual retirement accounts and preparation and dissemination of the Internal Revenue Service tax notice disclosure to the terminated employee
•     Document management system design for proper in-house Retirement Plan administration
•     Plan asset rollover services (in/out)
•     Retirement Plan plan monitoring services to ensure compliance with plan elections and federal laws
•     Contributions limit disclosure
•     Bond set-up
•     Term package
•     Alternate investments
•     Employee rewards program – incentives and retention
•     Safe Harbor
•     Roth 401 (k)
•     QDRO / QDIA verification
•     Special services required by plan elections
•     Employee calendar containing plan activity dates (enhanced service)
•     Employer Retirement Plan handbook: an employer guide to proper plan administration (enhanced service)
•     Employee participation package designed to maximize employee enrollment (enhanced service)
•     Assisting employees with retirement planning by defining long-term financial goals and savings targets to achieve their goals (enhanced service)
•     Automatic enrollment services (enhanced service)
•     Last participant skip tracing services (enhanced service)

LRS reviews all client plans carefully to determine whether a plan requires special plan administration. After each plan is reviewed, an internal calendar and external client calendar are prepared to ensure all plan activities are executed in a timely manner and in compliance with federal law. 

LRS also provides Plan Document Production Services, to ensure your plan documents are drafted in compliance with all governing federal laws and generated in a timely manner to meet disclosure deadlines. Plan Document Production Services can be combined with any of our other services.