Plan Administration
KJ Retirement Consultants will serve as your Third Party Administrator (TPA). We do not provide investment advisory services. We form alliances with many investment advisors and multiple daily recordkeepers; however our primary partners are our clients. Our unbundled approach to 401(k) daily valuation solutions combines the strengths of each organization to provide Plan Sponsors and participants with the best possible service at a competitive price.
As your TPA, we will consult with you on plan document design and implementation, monitor plan documents for compliance with regulatory changes and prepare plan amendments. Our annual administration services include:
- Determination of eligibility and vesting and coordination with recordkeeper
- Allocation of contributions and forfeitures and coordination with recordkeeper
- Preparation of all required compliance tests
- Preparation of Form 5500 Annual Return for electronic filing
On an ongoing basis, we will coordinate and approve participant loan originations and repayment amortization schedules, review and approve participant distributions and monitor and calculate required minimum distributions.
No one recordkeeping service provider is the best fit for every plan. Therefore, we work with numerous providers enabling us to offer competitively priced recordkeeping solutions. When recommending recordkeeping solutions, we take into consideration the objectives of the Plan Sponsor and the size of the plan.
We believe in full fee disclosure. Any revenue we receive as a result of the investment arrangements for your plan will be used to offset the stated fees for our services contained in your service agreement.
While daily valuation recordkeeping provides participants with the advantage of choosing the investment options that they feel best meets their objectives, daily valuation can be expensive for small plans. In addition, if the only contributions going into the retirement plan are contributions by the employer, the need to allow participant investment direction may not be necessary. For these reasons, we also offer comprehensive balance forward administration and recordkeeping services including annual valuation of participant directed brokerage accounts and annual valuation of trustee directed investment plans.
