Administrative and Actuarial

Once a benefit plan is implemented, RPAS can perform full service ongoing administration and recordkeeping. We provide complete administrative services for your plan, including everything necessary to maintain compliance with the regulations and filing requirements of all federal agencies.

At RPAS, your plan is serviced by an administrative team specifically assigned to your plan. This dedicated service team will collect and maintain all census, financial and related plan data to prepare and file all required statements, disclosures, and reports on a timely basis. We utilize the latest technological advances to automate as much of the work as possible and to customize client procedures and reports.

• DATA COLLECTION

Annual review needed to update employee information;

Customized electronic data collection procedures

• DATA AUDIT

A check of all year-end data for completeness and consistency of information;

Reconciliation of payroll data with trust reports for 401(k) plans

• ELIGIBILITY DETERMINATION

Ongoing monitoring of participant eligibility

• ANNUAL BENEFIT CALCULATION

To determine the current benefits and costs resulting from changes in compensation and plan provisions

• ACTUARIAL VALUATIONS/ALLOCATION REPORTS

Actuarial determination of contributions required for defined benefit pension plans;

Allocation of trust earnings, forfeitures, and new contributions;

Calculations of projected retirement benefits for each participant;

ADP/ACP (Actual Deferred Percentage/Actual Contribution Percentage)testing for 401(k) plans;

Completion of tests and preparation of reports monitoring compliance with coverage, participation, top-heavy, discrimination and other required tests and providing alternatives for corrective action

• BENEFIT DETERMINATIONS

Claims processing at retirement, death, disability, termination of employment, or in-service withdrawals, including preparation of Forms 1099-R, 1096 and 945

• VESTED BENEFITS

Determination of vested benefits and maintenance of vesting records

•  ACTUARIAL REPORT AND CERTIFICATION

Preparation of actuarial valuation report and certification for defined benefit pension plans subject to minimum funding standards

• REPORTING AND DISCLOSURE REQUIREMENTS

Timely preparation of Summary Annual Reports and Summary Plan Descriptions;

Filing of annual returns with Employee Benefits Security Administration, Internal Revenue Service, and Pension Benefit Guaranty Corporation

• ANNUAL STRATEGY PLANNING SESSION

With management to review plan performance and objectives;

Facilitated through a customized letter report compiling all highlights of results for the year and recommended follow-up to operate the plan most effectively;

Consulting as required to ensure optimum results and to maintain the best plan as needs change

• TRUST ACCOUNTING SERVICES

Tracking of all financial transactions for the plan, reconciliation of plan assets, and preparation of an income statement and reports listing the trust assets, market value of each asset and gains/losses of each asset for the period

• TOTAL FRINGE BENEFIT STATEMENTS

Review individual fringe benefit programs;

Preparation of individual statements;

Recommendations for cost savings to comply with management's goals and objectives

• SPECIALIZED EMPLOYEE ACCOUNTING

Maintenance of employee contribution accounts of all types;

Employee loan preparation and recordkeeping;

Accounting for self-directed plan;

Handling in-service distributions, including hardship and minimum distributions

• FASB

Preparation of specialized Financial Accounting Standards Board (FASB) valuations, projections and disclosures for annual audit of some sponsors of defined benefit pension plans

• LOAN PROGRAM SETUP AND ADMINISTRATION

Design and production of formal written loan program, setup of loan accounts, preparation of promissory note and amortization schedules, and tracking of loan payments

• PARTICIPANT STATEMENTS