Pension Consulting and Administration

Welcome to W&W Actuarial Services, Inc.

For over 30 years our professionals have provided companies, just like yours, with recordkeeping, administration and actuarial services for their retirement plans. W&W Actuarial Services, Inc. provides services to clients ranging in size from one to over a thousand employees. We are proud of our reputation for providing efficient, accurate and affordable services to our clients.

We are equipped to handle your retirement administrative and actuarial needs. W&W now offers ERISA 3(16) fiduciary services to function as the Plan Administrator on behalf of those clients who do not have the resources to address the day-to-day issues. As Plan Administrator we have the capability to perform the required services necessary to maintain plan compliance. In today’s environment, many plan sponsors look to their TPA (third party administrator) for such a service. Choosing W&W as the Plan Administrator allows us to interact with the plan participants on a daily basis. Please contact us to learn more about the 3(16) fiduciary services.

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.

Company Information

W&W Actuarial Services, Inc. ("W&W"), located in the Robinson Township area of Pittsburgh, PA, was established in 1991. W&W provides actuarial and administrative services to those companies sponsoring qualified retirement plans. Our commitment is to provide our clients with a high level of service to guide them through the complex maze of continually changing governmental regulations. We attribute our success to the quality of our staff and to the relationships we have developed. Our enrolled actuaries are members of the American Academy of Actuaries, Conference of Consulting Actuaries and College of Pension Actuaries. The staff includes several highly experienced employees.

W&W assists employers in the design, implementation, administration and communication of a wide range of retirement plans. We are committed to providing these services to our clients in a timely, accurate and cost-effective manner.

Our benefit professionals are dedicated to helping employers implement retirement plans that promote corporate goals and objectives, control costs and give employees a sense of security.

W&W takes the confusion out of plan administration duties and decision making by providing our clients with the consulting and technical expertise they need. We maintain all of the latest pension software systems to process our clients work more efficiently to ensure the highest standards of quality.

Meet the Staff

W&W’s greatest resource is its team of experienced professionals. Our clients are served by employees who have professional qualifications and whose backgrounds include many years of experience in the pension and retirement field. They are committed to providing our clients with friendly, courteous and responsive personalized service of superior quality.

Robert E. Warmus, EA, MAAA, FCA, MSPA

President and Consulting Actuary

Beverly J. Manko

Vice President and Senior Consultant

Peter E. Staab

Senior Consultant

Brian V. Viletto

Pension Actuarial Analyst

Gina McElhone

Pension Actuarial Analyst

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.

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.

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:

• W&W provides 3(16) fiduciary services.
• 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 eligible to receive the Required Minimum Distribution (RMD).

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.

Qualified Retirement Plans

A qualified plan must meet a certain set of requirements set forth in the Internal Revenue Code such as minimum coverage, participation, vesting and funding requirements. In return, the IRS provides tax advantages to encourage businesses to establish retirement plans including:

• Employer contributions to the plan are tax deductible.
• Earnings on investments accumulate tax-deferred, allowing contributions and earnings to compound at a faster rate.
• Employees are not taxed on the contributions and earnings until they receive the funds.
• Employees may make pretax contributions to certain types of plans.
• Ongoing plan expenses are tax deductible.

In addition, sponsoring a qualified retirement plan offers the following advantages:

• Attract experienced employees in a very competitive job market: Retirement plans have become a key part of the total compensation package.
• Retain and motivate good employees: You don't want to lose them to your competitors because of the qualified plans they are offering.
• Help employees save for their future since Social Security retirement benefits alone will be an inadequate source to support a reasonable lifestyle for most retirees.
• Qualified plan assets are protected from creditors of the employer and employee.

Employers can choose between two basic types of retirement plans: defined contribution and defined benefit. Both a defined contribution and a defined benefit plan may be sponsored to maximize benefits. Our consultants can help you choose the right plan for your company. Listed below is a description of the types of plans that are available.

Annual Plan Limits

Newsletters

Our newsletter covers topics of interest to retirement plan sponsors and their advisors. Every other month another online newsletter is added to our newsletter library. Please bookmark our site so you can easily return to view our future newsletters.

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