ThePensionService

How We Work

The Pension Service first evaluates all aspects of your business and determines the philosophy and goals of the business, the owners and the employees. Then we design a plan specifically to meet those objectives and provide your employees with the most cost-effective plan possible.

Defined Contribution Plans
Our experienced consultants can establish and administer Defined Contribution Plans ranging from one to 1,000 participants. These include 401(k) plans, 403(b) plans, profit sharing plans, money purchase plans, thrift plans, target benefit plans, age-weighted plans and cross-tested comparability plans. Our services span the life cycle from plan design and development to administration, reporting, disclosure, compliance monitoring, and ongoing consulting.

Defined Benefit Plans
For those seeking Defined Benefit Plans, our consultants can set up and administer salary-related plans, plans integrated with Social Security, account-based pension plans (e.g., Cash Balance, Pension Equity, and Life Cycle plans), flat dollar plans, frozen benefit plans, floor/offset plans, and non-qualified plans. We continually monitor the plans we administer to ensure that our clients’ regulatory needs are met. This team is involved in plan design, compliance monitoring, plan terminations and transfers, and merger and acquisition situations. It also performs the actuarial calculations related to target benefit plans.

Once either of these plans are in place, TPS provides comprehensive administration to make sure the plan continues to operate as designed for your business.

Communication Program
We recognize that communicating the value of benefit plans to participants and their families is vitally important. It results in greater appreciation of employer-sponsored benefits and higher levels of participation. Working with our clients, we can create comprehensive benefit statements that clearly and accurately describe employer-provided benefits and define their value. In addition, we can produce customized participant statements tailored to a client’s requirements, and provide on-site training and information sessions.