CONSULTING SERVICES
We ask the right questions, listen to the answers, discover the right issues that need to be addressed and make recommendations.
Qualified Plan Consulting Services
We continually monitor legal, regulatory, administrative and other related developments and we keep you informed of the steps required to keep your plans current.
Proactive and Corrective Expertise
Retirement plan administration and record keeping are complicated processes. New laws and regulations continue to modify the requirements associated with record keeping. Annual compliance tests and the methods of addressing failed tests can be burdensome and confusing. At the same time, the IRS and the DOL are more focused in monitoring retirement plan compliance. Unintentional errors can lead to significant penalties, additional taxes, potential disqualification of a plan and costs to address and fix the matters. Our processes are designed to spot issues proactively. We work with you and your advisors to address the issues and make recommendations for corrections. Timeliness is critical since most errors can be corrected within two years without going through the government agencies. Depending on the issues, we may advise you to seek ERISA Counsel to work with us and you to resolve these matters.
Compliance Reviews for Takeover Plans
When a client comes to us with an existing plan, we offer an optional compliance review service. We will compare the prior plan(s) year administration to the plan document as well as the rules and regulations under ERISA. This may occur when there is a change in leadership in the company, a pending merger/ acquisition or a confidence issue with the current services being provided. When necessary, we will guide clients through the IRS's compliance programs to resolve any outstanding issues. ACI has a unique understanding of compliance programs; ACI's founder, Pat Byrnes, worked closely with the IRS to develop these programs. Among the items covered in a compliance review are eligibility, compensation limits, top-heavy compliance, vesting, distributions, withdrawals, minimum distributions, QDROs, loans, allocations, benefit calculations and trust reconciliation.
If you are concerned that your retirement plan may not be in full compliance with ERISA and the Internal Revenue Code, please contact an ACI consultant to discuss a compliance review.
