TRANSITIONING A 401(k) plan and WHAT TO EXPECT 

Over time, a company’s business goals might change and it is a best practice to review your current plan design, recordkeeper, investments, and other service providers to ensure their services satisfy your expectations.  Whether your firm is seeking a consultation or a full transition, Premier Plan Consultants is your strategic partner and here to support you every step of the way. 

TRANSITIONING A 401(k) can help to:

Attract, Reward and Retain Top Talent

Align Business Goals with Plan Design

Implement a Plan That is Best Fit for Your Company

 
initial review

For your custom plan design analysis we will need copies of:

  • Plan Adoption Agreement with all plan amendments

  • Employee Census

  • Latest discrimination testing

  • Valuation for the most recent plan year-end

  • Copy of Form 5500

Once the documents are reviewed and found in good order, we will electronically restate and provide all clients with a secure, paperless copy.  Then, we host an on-boarding conference call to clearly identify a timeline for transitioning the plan and to answer any questions. 

each year and on-going experience

Every year, Premier Plan Consultants will provide on-going support and complete the following requirements: 

  • Partner with you to offer a powerful company benefit

  • Be a resource for your questions

  • Review and monitor your retirement plan to ensure it is meeting employer needs as best as possible 

  • Discuss your current plan design

  • Recommend updates and changes as company goals and/or demographics change 

  • Complete compliance testing requirements

  • Review trust asset to ensure all assets are acounted for and in the correct accounts

  • File the required Form 5500​

next steps

Then, after the documents are reviewed and found in good order, we will electronically restate and provide all clients with a secure, paperless copy.  The next step is to host an on-boarding conference call to clearly identify a timeline for transitioning the plan and to answer any questions.

 Plan Sponsor  I  Premier Plan Consultants  I  Investment Provider

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Setup a welcome call to identify roles and responsibilities

Support with preparing and filling out prior providers transfer paperwork

Discuss the blackout dates and date of asset liquidation

Coordinate with client and payroll provider for smooth transition process

Prepare and distribute employee notices related to transfer

Remove blackout and begin contributions to new provider

Today, businesses of any size can easily establish a 401(k) plan that is reasonably priced, simple to implement, and requires little time to administer. Offering a 401(k) plan not only helps your employees, but also helps your firm be more competitive in the marketplace.

(858) 257 - 3555

tom burns 

san diego

TPA

Third party administrator 

pension

401k

401(k)

retirement plan

retirement planning

form 5500

administration