Retirement Plan Administration
Spectrum Employee Benefits provides Third Party Administration for all types of qualified retirement plans. Spectrum will work with Plan Sponsors to provide sound guidance to maintain ERISA compliance.
Administrative services include, but not limited to:
- Prepare and maintain plan document compliance
- Prepare all IRS required government forms
- Prepare all required discrimination testing
- Assist in compiling information for independent IRS and DOL audits
- Prepare profit sharing analysis to capture Employer’s financial targets with New Comparability
- Complete profit sharing calculations
- Determine participant vesting
- Verify and process participant distribution requests
- Determine hardship qualifications
- Set up and maintain participant loans
- Calculate Required Minimum Distributions (RMD)
- Review and process Qualified Domestic Relations Order (QDRO)
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