PLAN ADMINISTRATION
Third party administration, 3(16) administration
We offer a full-team approach to the service of your plan. Whether you are looking to adopt a new plan, fix plan errors, or improve your current plan, JM Pension will help manage the operation of your plan and ensure its compliance with various governmental regulations.
Adopt a new retirement plan for your company:
Brainstorm and Plan. Schedule a call with us. Together, we will determine the best plan types and features that best meet the needs of your company and employees.
Build and Develop. JM Pension will turn the conceptual design for your plan into official plan documents that serve as a blueprint for your plan’s operation.
Implement. We will onboard your plan by developing internal processes and procedures and training your staff as needed in their roles.
Improve your existing plan with a new administrator:
Review and Analyze. Our engagement begins with an interview to determine if your current plan type and features still fit the needs of your company and employees.
Problem Solve. We will review the operation of your plan to determine what’s working and what isn’t and if it conforms with your plan features.
Design and Create. We will make recommendations for plan adjustments to better fit your current needs. Once agreed upon, we will develop the improved plan.
After completing the above, JM Pension will help manage your plan:
Management of Day-to-Day Operations
We establish protocols and procedures that ensure proper plan administration. For those interested in full managerial oversight of your plan, we also offer 3(16) plan administration services.
Compliance with Governmental Regulations
We create and follow compliance calendars and checklists and complete routine plan audits to ensure your plan is in compliance with governmental regulations and deadlines.
Assistance with Annual
Testing & Reporting
On an annual basis, we complete a full plan review and recommend any changes if needed. We will prepare requisite testing and reports, including the Plan’s annual tax return (Form 5500).