Our Services
"Our success is measured by our ability to assist our Clients in finding the most efficient way to meet their objectives."
For over 32 years, RPA has built its distinguished reputation by consistently providing its clients with competent, timely and cost effective retirement plan compliance administration and recordkeeping services. Here's what we can do for you:
Introduction
Are you just getting started with a new employee retirement plan benefit, or has your plan been around for years and have millions of dollars in assets with hundreds of participants? To RPA, it doesn't matter the size of your plan or how large your organization, our team of pension professionals can provide your plan with the tailored services that you need to meet your goals and at prices that you will truly appreciate.
RPA serves a broad range of clients in support of a wide range of retirement plans: 401(k) Plans, 401k Safe Harbor Plans, 401a Plans, Profit Sharing Plans, 403(b) Plans, 457(b) Plans, Defined Benefit Plans, Money Purchase Plans, SEPS, Deferred Compensation Plans, and more.
If you want a competitive retirement plan benefit to support your hiring and retention of top-notch employees, RPA would like to compete for your business. If you want your retirement plan to include only the most current, state-of-the-art design, compliance administration, recordkeeping, education and communications, RPA should be your retirement plan provider.
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Plan Design
Designing a successful retirement plan for your employees is much like designing a new home for your family. In planning a new home, you would certainly seek the advice of a professional to help you design and plan its construction. But, how would you select that professional?
Your new home will need lumber and bricks, but you wouldn't hire the building material salesman to design your new home would you? Instead, you'd obviously hire an experienced architect to make sure that the design of your new home is thought through carefully, by a professional, who is experienced in home design. You would hire such a professional to insure that when your home is finally built that it doesn't have any structural or design flaws and that it passes all of it's mandatory building inspections.
In designing a new retirement plan, RPA is your experienced retirement plan "Architect". If you already have an existing plan that is just not right, for whatever reason, RPA is the retirement plan architect that can review your plan and propose those concepts needed to replace the hassles in your plan, along with any unnecessary expenses, with cost effective and efficient alternatives.
In designing your new plan we will take into account:
- Your employee demographics, their ages, their goals and their level of investment savvy
- Your business industry and organizational structure
- Your budget and financial interests
- Your corporate or organizational human resources philosophy
- And, we will build those protections into your plan or alarms that will keep your plan in compliance and avoid violating any governing rules
Because RPA doesn't sell mutual funds or any securities for that matter; and because RPA doesn't provide any investment advice, when RPA helps you design or re-design your plan, you get very objective and arms length consultation. Our plan design advice is never influenced by other conflicting profit centers such as commissions from the sale of securities or fees from investment advice.
In providing these fully objective, first quality plan design services, our job is to work closely with your investment advisor or securities broker, and with your internal investment committee, to implement and coordinate the compliance administration and recordkeeping services that support those investment decisions made on behalf of your plan.
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Compliance Administration
Woven into the fabric of America's corporate and not-for-profit institutional retirement plans, is a complicated labyrinth of rules, regulations and administrative procedures.
Plans that fail to conform fully with these regulations are exposed to the risk of stiff governmental penalties and adverse tax consequences. And, it doesn't matter that a compliance failure is the result of unintentional error or innocent oversight, the accountability and accompanying reparations are still going to apply.
Proper retirement plan administration demands an in-depth knowledge of the many actions required to keep that plan in compliance with all of the complicated regulations and also demands maintaining a preemptory overview of the plan's status to insure that it remains in compliance at all times.
Non-discrimination testing for example, is an area of compliance administration that requires special expertise of a plan's administrator. Not having that expertise working for your plan could result in your plan not being properly administered, failing its compliance testing and exposing your plan to the potential loss of its favorable tax status.
As your plan's administrator, RPA will protect you, your plan and your plan's trustees by monitoring your plan with semi-annual pre-test "preemptory check-ups" to insure your plan is in full compliance at all times. We'll keep you fully apprised of all regulatory updates and provide the following cost effective retirement plan compliance administration:
- ADP/ACP Test (2 tests a year)
- Annual Additions Test (415 limit)
- Top Heavy Test
- Maximum Deductible Employer Contribution Test
- Minimum coverage and participation tests
- 70 1/2 Distribution calculations
- Loan and Hardship Maximums
- Vesting Calculation
- Employer Contribution Calculation
- Forfeiture Accounting
- Balance Sheet
- Participant level Valuation
- IRS Annual Return - Form 5500 or 5500-EZ
- Schedules A, C, D, E, G, H, I, P, R, T & SSA, As Required
- Summary Annual Report
- Tax Reporting Form Preparation - 1099R,1096, 945
- Unlimited Support Calls To Your Service Representative
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Daily Valuation Recordkeeping
The need for accurate accounting and proper allocation of all monies in a retirement plan cannot be emphasized too strongly. Failure to account accurately for the monies in a retirement plan can distort participant account balances, cause unnecessary work for everyone, increase the fiduciary risks to the plan's Trustees, adversely affect participant enrollments, or again, endanger the favorable tax status of your plan.
RPA is equipped with new, state-of-the-art computer hardware and the most sophisticated "daily valuation" recordkeeping software available in the industry.
By way of our strategic partnerships with Fidelity Investments Institutional Brokerage Group [FIIBG], and Matrix Settlement & Clearance Services [MSCS], working in parallel, RPA provides its clients with the most diverse offering of mutual funds available anywhere. As an RPA client, your plan's recordkeeping will include:
- Daily Account Balance Updates
- Complete Flexibility And Choice Among Thousands Of Mutual Funds From Hundreds Of Mutual Fund Families
- Toll-Free Participant Service Lines And An On-Line Internet Connection Allows Easy Access For Daily Balances, Transfers And Much More
- An RPA Representative Is Assigned To Your Plan For Direct Contact During Normal Business Hours For Questions And Help
- Timely, Easy To Read Quarterly Statements
- Timely Distributions To Terminated Employees And Loan Applicants
- Accuracy And Timeliness Of All Reports And Transactions
- Income Tax Withholding And Reporting For All Distributions
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Education & Communications
Your retirement plan cannot succeed unless your employees understand your plan and choose to participate in it. Either in tandem with your investment professional or separately, RPA will conduct regular enrollment meetings to optimize enrollment and keep your plan's participants informed. We'll keep your participants advised as to how their funds are performing, any new features of their plan, as well as work with them regarding their individual financial situations.
Our service representatives will provide you and your plan with the kind of education and communication support that we know is needed to keep your employees informed, interested and participating successfully in your plan. We will also provide all of the printed enrollment materials, customized for your plan, to support your employees at enrollment.
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Consulting
Should there come a time when your plan, your plan's Trustees, your plan's fiduciaries or your plan's participants need specific consulting support, outside of RPA's standard services, RPA will be there for you. RPA doesn't provide investment advice or legal advice, but if the nature of your need for special consultation is retirement plan related [i.e. an IRS audit of your plan], we can and will assist you.
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