We Administer Plans for Education, Government, Non-Profit, Tax Exempt and Religious Organizations and Work with You to Design a Plan That Meets Your Business Requirements.
ADMIN Partners offers our expertise for the following defined contributions plan types:
· Public education organizations: 403(b), 403(b) Special Pay, 457(b) and 401(a) plans
· Local and state governments: 457(b) and 401(a) plans
· 501(c)(3) Non-profits: 403(b) ERISA and ERISA-Exempt, 457(b) “Top Hat” and 401(k) plans
· Church and religious organizations: 403(b), 403(b)(9) and 401(k) plans
ADMIN Partners manages Plan Documents: Plan Sponsors are provided an Adoption Agreement and written Plan Document that detail the terms, conditions and features for operating your plan. In the event there are regulatory changes or your retirement plan needs to be updated, ADMIN provides plan amendments and plan restatements (including any appropriate Board Resolutions).
ADMIN Partners manages your data: ADMIN accommodates clients holding existing plans with data aggregation and loan/compliance approval services. ADMIN provides these data aggregation services by integrating plan recordkeeping software (vendor supplied) with our proprietary software we use to support accounts individually registered under each plan participant – all within a plan framework. ADMIN is able to store this data by employer or by plan type to provide compliance aggregation services and plan reporting support for clients.
In short, we provide you with the plan, compliance support, administration, data collection and ERISA Plan year-end services - including asset valuation, financial statement preparation, form 5500 filing, and standard discrimination testing that you need, so that you can focus on the everyday concerns central to your business mission and goals.
Plan Sponsors gain access to a library of communication materials including sample forms and participant letters, FAQ reference documents, including meaningful notice and universal availability requirements. Secure web-based services are available for employers to submit retirement plan contributions, reconcile payroll contributions and to facilitate delivery of plan reports. All copies of Plan Documents and support materials are kept on file, and amendments made or changes implemented as needed, for your convenience.
We recognize that the plan administration and recordkeeping activities we provide may be brand new to the organization so good coordination and communication are vitality important. We address these concerns by assigning a dedicated transition team to orient and educate Plan Sponsor staff to ensure smooth operations. Plan Sponsors also receive instructional materials as well as a Plan Administrator Reference Guide to facilitate plan compliance matters.
The Employee Retirement Insurance Security Act (ERISA) requires fiduciaries to exercise prudence in selecting service providers and to ensure that the compensation service providers receive is not excessive. ADMIN Partners fully embraces complete fee transparency. Since inception, as a matter of policy, ADMIN has fully disclosed all fees and expenses to prospective clients.
ADMIN Partners views every client relationship as a long-term partnership. Our primary mission is to “make things easier” for our clients by alleviating the administrative burdens associated with retirement plan compliance so you can focus on running your business.