Consulting, Compliance, and Assurance Services for 401(k) Plans
Qualified plans are designed to offer individuals added tax benefits on top of their regular retirement plans, such as IRAs. Employers deduct an allowable portion of pretax wages from the employees, and the contributions and the earnings then grow tax-deferred until withdrawal. You may want assistance to determine if your company is in compliance with the regulatory requirements for 401(k) plans. Qualified plans, such as 401(k) plans, IRAs, and profit-sharing plans, must meet the standards of the Employee Retirement Income Security Act (ERISA).
Your Challenges with 401(k) Plans
Plans face scrutiny from participants and regulators and are subject to compliance with changing regulations. Selecting the right provider is important, especially with increasing costs, and fulfilling fiduciary responsibilities is a must. Adequately preparing for your audit will save you time and money on audit fees.
PASI has a full complement of 401(k) plan consulting and compliance services to assist your business. From plan documentation, service provider assessments, and accounting/record gathering for benefit plans, we make the process easier for you and your staff.
We can help to facilitate the service provider RFP process, conduct benefit program and fiduciary reviews, and assess your benefit plan’s operational and regulatory compliance status. PASI will help you develop agreed-upon procedures for initial account balances and prepare Form 5500 government reporting. From annual compliance/nondiscrimination testing to preparing Form 5330 excise taxes for you, PASI has the 401(k) plan services you need.
PASI’s Assurance Services
- Benefit plan operational improvements
- Financial statement audits
- Management, trustee and audit committee communication assistance
- Assistance with DOL and IRS investigation audits