Every qualified retirement plan must adhere to an enormous number of IRS and Department of Labor (DOL) regulations – or risk losing its qualified status. Annual filing of Form 5500 is just one small step. We add value from the very beginning by delving into every plan, assessing its data and looking for reasonableness and anomalies. Our goal is to ensure that our clients are meeting their considerable fiduciary responsibilities and that the plan is effective and compliant.

Thanks to our specialized education and training, our skills extend beyond the typical third-party administrator’s offering. For example, we have the ability to perform component group testing, tie in a cash balance solution, and perform earned outcome calculations for partnerships and sole proprietors. We also offer creative testing options for controlled groups and multiple employer plans. We are one of very few firms in our region qualified to perform these services, which allow owners to maximize their overall allocations while minimizing costs to employees.

Our knowledgeable staff knows exactly which questions to ask to uncover potential problems. We are always thinking ahead, sharing best practices, and keeping our clients – and their plans – out of trouble.

We administer a variety of plans:

  • Profit sharing plans
  • 401(k) plans with or without profit sharing
  • Safe harbor 401(k) plans
  • 403(b) plans
  • Multiple employer plans
  • Self-directed account plans
  • Daily valued plans
  • Balance forward plans
  • Trustee directed plans
  • Plans with complex allocations such as new comparability, social security integration and component group testing

Our services include:
Annual administration

  • Census review
  • Calculate and allocate employer contributions and forfeitures
  • Prepare trust reconciliation
  • Prepare Form 5500 and related schedules
  • Conduct compliance testing
    • Minimum coverage test under IRC 410(b)
    • Maximum annual additions under IRC 415
    • Deduction limit test under IRC 404
    • Top heavy test under IRC 416
    • Non-discrimination test under IRC 401(k) and 401(m), if applicable
  • Compile auditor’s reports and preparation of draft financial statements, if applicable
  • Client review meetings

Employer reporting

  • Summary of account balances and activity
  • Summary annual report
  • Compliance testing results
  • Contribution allocations
  • Trust reconciliation


Karen Mills - Burlington CPA Firm - Retirement Plan ServicesKaren Mills, QKA
Email Karen