Pension Innovations & Consulting is Service

At Pension Innovations & Consulting (PIC), we want to be your partner in the creation, design and ongoing administration of a retirement plan ideally suited to your needs and the needs of your employees. To do this, we first meet with you face-to-face to discuss various scenarios and propose solutions specific to your situation.

After an initial meeting and needs determination, we will propose recommendations specific to your situation and provide a plan of action. The actual administration of your plan may include some, if not all, of the following:

  • Design and preparation of a Plan Document, Summary Plan Description (SPD) and other supporting documentation
  • Set up of plan and participant records on the administration system
  • Establishment of electronic data submission procedures
  • Assignment of your personal Plan Consultant
  • Maintenance of plan and employee historical records
  • Computation of contributions and forfeitures
  • Reconciliation of contributions and distributions to reports provided by the investment company
  • Preparation of the year-end management report
  • Preparation of IRS Form 5500 and Summary Annual Report
  • Compliance testing
  • Asset transfers
  • Distributions – Terminated Participants / Hardship / Age 70.5 Minimum / QDRO
  • Plan Amendments / Restatements / Terminations / Mergers
  • Assistance with IRS / DOL plan audits / qualification issues