Services


From start to finish, ERP implements new retirement plans that will meet the retirement needs of the whole organization - principals and their employees.

A 401(k) savings plan allows you to defer up to $18,500 annually into a tax-deferred retirement savings plan. You can incorporate a profit sharing feature that permits up to a $55,000 (or more) annual tax-deferred contribution. The tax savings frequently exceed all the cost of providing benefits to the rank and file employees.

PLAN DESIGN & IMPLEMENTATION

ERP will work with you to execute customized plans designed to meet your retirement goals. Our comprehensive services support the analysis of the potential financial impact to your organization.

Plan Design Options

  • 401(k) Plans
  • Profit Sharing Plans
  • Safe Harbor 401(k) Plans
  • Defined Benefit Plans
  • 401(k) Cash Balance Combination Plans

Implementation

Once you have decided on a plan design that meets your needs, ERP crafts a pre-approved plan document or a plan document prepared for submission for IRS approval.

Administration

ERP provides record keeping services or coordinates with your current record keeper to determine contribution amounts each year and ensure that the plan is operationally in compliance with IRS laws and regulations.

Consulting

After retirement programs are implemented, ERP will continue to assist you in monitoring programs to ensure the financial security of your company or firm. ERP will also keep you informed of any new pension law and how it may impact your retirement program.


REVITALIZE CURRENT RETIREMENT PROGRAM

Many small businesses and partnerships provide a 401(k) savings plan that only offers employers and employees the opportunity to defer a salary portion toward their retirement account and possibly allows a company matching contribution. This is a very common retirement plan design that in many cases does not provide sufficient income at retirement and does not maximize on the potential tax savings that are available. A 401(k) safe harbor and new comparability plan can be implemented which provides maximum benefits and tax advantages for the owner. If you wish to have the best of both worlds, then a 401(k) cash balance combination plan would significantly increase retirement savings and tax advantages.

ERP is dedicated to providing you with complex, customized plan design strategies that allow your organization to take full advantage of the potential retirement benefits that are permitted under law and provide maximum tax efficiency.

  • Safe-harbor 401(k) Plans
  • New Comparability Profit Sharing Plans
  • 401(k) Cash Balance Combination Plans

Some of these programs require very little change to existing plans. Others are more complex and require sophisticated nondiscrimination testing. ERP works with you to apply a design that meets your retirement goals and to analyze the financial impact to your company or firm.

GENERAL CONSULTING/EXPERT TESTIMONY

ERP assists you in understanding retirement plan benefits in a manner that is easy to comprehend. Some of the general consulting that we provide includes:

  • Review current retirement plan benefits to determine if they are correct and in accordance with pension law and the provisions of the plan
  • Help negotiate a deferred compensation agreement between employers and key employees that provides a reasonable level of income at retirement and is competitive with the retirement income that is granted to other executives
  • Draft and review Qualified Domestic Relations Orders (QDRO’s) that offer reasonable benefits
  • Provide expert testimony and supporting documents for civil trials including divorces or any other civil or criminal case where employee benefits are involved
  • Consulting services for union and other negotiations related to employee benefits
ERP’S DEFINED CONTRIBUTION CAPABILITIES/SERVICES

ERP offers the following defined contribution administrative services:

  • Customized plan administration
  • Development of procedures and forms
  • Defined contribution valuations
  • Process loans/hardship withdrawals
  • Employment termination packages
  • Preparation of government filings
  • Monitor plans for regulatory compliance
  • Successful short and long-term plan performance
  • Meetings at your convenience
ERP’S ACTUARIAL AND DEFINED BENEFIT CAPABILITIES/SERVICES

ERP offers the following actuarial and defined benefit services:

  • Customized plan administration
  • Development of procedures and forms
  • Defined benefit valuations
  • Calculation of pension benefits/Employment termination packages
  • FASB valuations
  • Actuarial certification of defined benefit plans
  • Preparation of government filings
  • Monitor plans for regulatory compliance
  • Successful short and long-term plan performance
  • Meetings at your convenience