Our Services
Providing the right retirement benefits is an essential part of attracting and retaining quality employees.
Employees each have different retirement needs or objectives. A retirement plan needs to offer a wide range of retirement
choices to stay competitive. .
Our
goal is to encourage your employees to save and invest for retirement, while helping you meet your compliance responsibilities,
reduce administrative costs, and increase employee satisfaction, loyalty and productivity. .
We offer several different IRS-approved plans specifically designed to meet the changing needs of
your business and your employees. . The types of plans we offer include:
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Profit Sharing Safe Harbor 401(k) SIMPLE
IRA
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401(k) Age Weighted New
Comparability
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Roth 401(k) SEP IRA Individual
(k)
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Plan Design and Administration .
Assessment. We work with you
to determine the type of retirement plan that best suits your needs and your employees’ needs. . Design. Flexibility is key
as retirement goals often change for both employers and employees. We take the information gathered in the Assessment
stage and design a retirement plan that meets both your goals and your employee’s goals. . Implementation. Once the retirement
plan has been designed, Jablonski-Madill, Inc. assists you in selecting an investment product that matches your organizations
investment philosophy. We support you in distributing the required plan information to your employees. . Administration. We can administer your retirement plan on a day-to-day
basis. We host on-site employee enrollment meetings and educational meetings. We provide withdrawal processing,
investment guidance and more. . Annual
Review. Jablonski-Madill, Inc. prepares year-end reports and the proper IRS forms for annual review.
We review your plan design to make sure it still meets your needs as well as your employee’s needs. |
Compliance
As part
of our administrative duties and year-end reporting process, Jablonski-Madill, Inc. keeps your plan compliant with the latest
rules and regulations. All compliance reports are prepared on behalf of your qualified retirement plan and include the
following:
- Nondiscrimination Test - 401(a)(4)
- Actual Deferral Percentage (ADP) Test
- Actual Contribution Percentage (ACP) Test
- Deferral Contribution Limit Test - 402(g)
- Compensation Testing - 414(s)
- Annual Addition Test (Individual) - 415(c)
- Employer Contribution Limitation Test - 404
- Compensation Limitation ($245,000 for 2009)
- Top Heavy Test - 416(c)
- Coverage Test - 410(b)
- IRS Required Plan Amendments
- Summary
Annual Reports (SAR)
Advantages
of a Qualified Retirement Plan
Employer
- Retirement plans help attract and
retain quality employees
- Employer
may receive a tax credit for starting a qualified retirement plan
- Employer contributions are deductible and can be flexible
- These types of plans are easily understood by employees
- Employer has the ability to shift some of the responsibility
of saving for retirement to the employees
- Employee directed investments can mean less fiduciary responsibility for the Employer
Employee
- Earnings on qualified plans grow
tax deferred
- Can lower taxes
by reducing taxable income when deferring into a 401(k) plan
- Younger employees can accumulate larger balances over time
- Participants can direct their own investments
- Participants may be able to borrow from the plan if provided for in the plan document
To learn how your organization can benefit from a
retirement plan, Contact Us.
EGTRRA Restatement:
What is it? Why do Qualified Plans
need to go through it?
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The EGTRRA (Economic Growth &
Tax Relief Reconciliation Act of 2001) Restatement process has begun. The IRS requires all prototype defined contribution
qualified retirement plans to be amended and restated as a result of its new six-year restatement cycle program. All
employer-level prototype and volume submitter documents will need to be restated by April 30, 2010.
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For the last 6 to 7 years retirement plans have been administered using snap-on amendments
which contain the EGTRRA provisions. The restatement process simply takes all these snap-on amendments from the last
several years and incorporates them into a brand new plan document. This will simplify the administration of your plan
and summarize all the important provisions in one easy to read Summary Plan Description (SPD).
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Jablonski-Madill, Inc. can assist you in restating your organization's qualified retirement
plan document. We can map over your elections or provisions from your existing plan document to the new EGTRRA document.
We can also make recommendations on which elections or provisions you might want to add to your plan to allow greater flexibility.
For example many employers are considering adding the Roth 401(k) feature to their 401(k) plans.
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As long as you are required to restate your plan document, now is the time to make any changes.
Making these plan changes now will keep your expenses to a minimum by reducing the chance that you will need to amend the
plan in the near future.
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Contact our office for a FREE
quote on our restatement services. Contact Us
