TPA Administrative Service
BRetire utilizes the latest technology to maintain plan documents and to lower maintenance costs. Here are just some of the services we provide for smooth and efficient plan operation:
- Calculate employee eligibility and plan entry.
- Maintain participant vested percentage records.
- Process each payroll, allocating contributions and loan payments according to the participant’s investment elections.
- Process fund transfers in accordance with participant elections.
- Determine eligibility for allocation of employer contributions and forfeitures.
- Allocate employer and employee contributions.
- Allocate plan earnings.
- Allocate forfeitures, if applicable.
- Distribution processing: Calculation of distribution amount, preparation of required distribution notices, release forms and IRS Form 1099-R.
- Loan processing: Set up of loan accounts, preparation of promissory note and amortization schedule and tracking loan repayments.
- Hardship withdrawal processing: Determination of hardship distribution amount and preparation of application forms.
- Reconcile trust accounts.
- Prepare customized participant statements.
- Monitor participants who are required to receive age 70½ distributions.