Plan Design

With over 30 years of experience helping clients manage the intricacies of retirement plan administration, Great Lakes Pension understands that the best retirement plan design is the one that fits a plan sponsor’s corporate goals and plan objectives. To meet the needs of our diverse clients, we offer a wide variety of retirement plan options.

We will collect all the pertinent data required to make well-informed recommendations. With the right information in hand, we can design the right plan for you.

Whether you are looking to establish a new plan or to revise an existing plan, you can count on Great Lakes Pension to customize solutions to meet your needs.


Implementation

With the right plan design, we will help you understand what is involved in establishing a retirement program. Our professional staff will guide you through each step of the process, providing all the necessary documents to establish your qualified plan.

Next, we will work with your financial advisor and investment platform to coordinate a smooth implementation of your plan.

 

 


Administration

With your plan up-and-running, we will assign a dedicated plan consultant to support and guide you. Specifically, we will provide plan administration, compliance testing, maintenance of plan documents, yearly filings with the IRS and other services required to ensure your plan continues to work for you.

You can rely on the deep knowledge and experience of our credentialed team, including an on-staff actuary, to help you meet your goals.

 

 

Our Services include, but are not limited to:

  • Current Plan Analysis
  • Plan Document Review
  • Initial/Revised Plan Design Assistance
  • Employee/Account File Set-Up
  • Coordination of Information with Investment Platform
  • Existing File Transfer/Copying
  • Plan Document
  • Corporate Resolution
  • Summary Plan Description
  • Plan Amendments (Interim and Discretionary)
  • Participating Employer Agreements, if applicable
  • Loan Program, if applicable
  • Qualified Domestic Relations Order Plan Procedures
  • Safe Harbor Notice, if applicable
  • Automatic Enrollment Notice, if applicable
  • Storage of Plan Document on PlanSponsorLink Portal
  • Secure Electronic Gathering of Employee/Employer Data
  • Determination of Highly Compensated and Key Employees
  • Annual Eligibility Determination
  • Calculation of Employer Contribution
  • Reconciliation of Annual Contribution for all money types
  • Notification of Compliance with Bonding Requirements
  • Annual Vesting Determination and Upload to Investment Platform
  • Comprehensive Record-keeping & Trust Accounting
  • Allocation of Earnings/Forfeitures
  • Notification of Beneficiary/REA Requirements
  • Year End Notes providing a comprehensive review of the plan
  • Periodic Studies and Consulting
  • Participant Certificates
  • Plan Distribution and Loan paperwork and processing
  • Storage of Annual Valuation and Compliance Testing on PlanSponsorLink Portal
  • Section 401(a) Nondiscrimination Testing
  • Section 401(k) Discrimination (ADP) Testing
  • Section 401(m) Discrimination (ACP) Testing
  • Section 402(g) Individual Deferral Limit
  • Section 404(a) Deductibility
  • Section 410(b) Minimum Coverage Testing
  • Section 414(s) Compensation Ratio Testing
  • Section 415, Annual Additions Limit
  • Section 416 Top Heavy Testing
  • Regulatory and Legislative Compliance
    • Preparation of Form 5500, applicable schedules and attachments
    • Preparation of Form 8955-SSA
    • Preparation of PBGC Form, if applicable
    • Preparation of Summary Annual Report
    • Preparation of 1099 Form, 1096 Form and Form 945, if applicable
    • Notification of IRS, PBGC and DOL Reporting and Disclosures
    • Assistance with annual CPA audits on Large Plans
    • IRS Audit Preparation and Representation
    • Voluntary Fiduciary Correction Program (VFCP) Filings, if applicable
    • Actuarial Valuation and Certification
    • Section 401(a)(26) Minimum Participation Testing
    • Defined Benefit Plan Valuations, Accrued Benefit and Present Value Calculations
    • Notification of Beneficiary/REA Requirements
    • Periodic Studies and Consulting


    Testimonial

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    • "The transition from the old pension to our current plan/401K was easy, and continues to be easy to manage. Thank you!"

    • ~ Dental Practice in Jackson, MI
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