Our Services

W&W services all types of retirement plans. We recognize the importance of providing personal attention and timely services. To that end, our philosophy begins with a "team approach" to better serve and ensure the highest degree of quality.

We understand the importance of the interaction between all of the interested parties (employer, participants, financial representatives, accountant, attorney and recordkeeper/consultant). To ease the client's administrative burden, our goal is to establish a systematic method for receiving and reporting information.

A retirement plan is a key ingredient in a business formula for success. A properly designed retirement plan will enable the client to attract and retain quality employees, reduce taxes and enhance retirement benefits. An essential element to the plan's success is our ability to effectively communicate with the plan sponsor and their employees. We are able to address and provide information and practical advice to the client regarding legislative, workforce or economical changes that may affect the plan's funding or qualification.

Because we are a full service consulting and administration firm, partnering with us ensures that the needs of you and your employees will be met. We offer a full range of retirement plan services. Click below for details of the services provided.

Plan Design and Implementation
Defined Contribution Plan Recordkeeping and Administration
Defined Benefit Plan Actuarial Services and Administration
Annual Compliance Testing and Government Reporting
Consulting Services

 


Plan Design and Implementation

Selecting, customizing and implementing a plan can be a complex process. Our professional staff will guide you through each step of the process including:

  • Review the employer's controlled group and/or affiliated service group situation.
  • Design a plan tailored to meet the needs of the owners, employees and the business itself.
  • If we are taking over a plan already in existence, we will review the existing plan provisions and recommend changes to fully meet the employer's goals and objectives.
  • Prepare plan documents as required by the IRS.
  • Prepare the request for an IRS determination letter, if applicable.
  • Prepare the Summary Plan Description that is required to be distributed to plan participants.
  • Prepare customized enrollment and administrative materials.
  • Conduct employee meetings to communicate the provisions of the plan.

Defined Contribution Plan Recordkeeping and Administration

Our clients generally fall into one of two categories; those who require our "full" administrative services and those clients using a daily valuation platform through our third party alliances formed with various investment companies. We perform the services listed below for our "full" service clients as frequently as monthly, quarterly, semi-annually or annually in order to provide smooth and efficient plan operation. For those clients using a daily valuation platform, we interact and work directly with the investment company so there is no duplication of services. Services include:

  • 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. This includes a determination of any employer contribution under a "cross-tested" method or matching employer contributions made in conjunction with a 401(k) plan.
  • 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 and Form 945.
  • 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 participant statements.
  • Monitor participants who are required to receive age 70 distributions.

Defined Benefit Plan Actuarial Services and Administration

Our professional staff has the expertise and up-to-date technology to provide the necessary actuarial and administrative assistance to manage your defined benefit plan:

  • Calculate employee eligibility and plan entry.
  • Maintain participant vested percentage records.
  • Determine eligibility to receive benefit accrual.
  • Prepare annual actuarial report and certification.
  • Actuarial determination of required employer contributions.
  • Preparation of individual benefit statements.
  • Distribution processing: Calculation of distribution amount, preparation of required distribution notices, release forms and IRS Form 1099-R.

Annual Compliance Testing and Government Reporting

Our professional staff has the knowledge and expertise to help keep your retirement plan in compliance with federal laws and regulations and, should violations occur, provide you with methods of correction. We provide the following services, if applicable:

  • Contribution deductibility calculations (404).
  • Annual additions testing (415).
  • Top heavy testing (416).
  • Coverage testing (410(b)).
  • ADP/ACP testing (applicable to 401(k) plans).
  • General Test - nondiscrimination testing (401(a)(4)).
  • Preparation of IRS Form 5500 and related schedules.
  • Preparation of Summary Annual Report for participants.
  • Preparation of appropriate PBGC form (for defined benefit plans only).

Consulting Services

  • Plan amendments, terminations and mergers.
  • Assist with IRS and DOL audits.
  • Provide assistance with plan design changes.
  • Conduct special plan or participant benefit studies or projections.
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