Beard Pension Services, Inc. (BPS) will function as the third party administrator for your retirement plan, working to ensure that your plan maintains ERISA compliance. As pension legislation undergoes constant change, our professionals stay informed to ensure compliance with the shifting pension landscape. Our extensive services include:
Participant Enrollments and Education
- Determining participant eligibility based on annual census data
- Preparing participant materials for enrollment meetings conducted by BPS
- A successful communication program is critical to the success of a company’s retirement plan. We review the wide variety of options available and create the most appropriate program for our clients.
- Working with your payroll provider to ensure that appropriate deductions are made
- Calculating plan contributions
- Processing all plan contributions
- Calculating participant vested account balances
- Preparing all 1099, 1096 and 945 tax filings
- Originating loan applications and amortization schedules
- Preparing all trustee distribution paperwork
Annual Administrative Testing
- Providing participant record-keeping and reporting
- Calculating annual loan reconciliation
- Administering all compliance testing such as:
- Top heavy testing
- ADP/ACP testing
- Coverage testing
- Annual additions limits testing
- Other required non-discrimination tests
Tax Return Preparation
We will prepare your plan’s annual tax return (Form 5500) and all associated schedules.
Often, less attention is given to the ongoing and time-consuming work needed to maintain a pension plan. At Beard Pension Services, Inc., however, these plan aspects are a primary focus. We partner with you to ensure the day-to-day tasks are being handled, freeing you to focus on the management of your business.
A relationship with our firm brings you the collective knowledge of certified pension experts, attorneys, and pension consultants working to provide efficient administration of your pension plan. Using a team approach and drawing on the talents of individuals who focus on the pension arena, we strive to bring you first-class service. Your company is the direct beneficiary of our dedication to retirement plans.