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DESIGN, IMPLEMENT & ADMINISTER

Your solution to retirement benefit administration

OUR MISSION

To exceed the expectations of our clients in all aspects of their qualified plans, concentrating ourselves in providing the financial strength and growth, necessary to attract and keep the highest quality staff to pursue your goals.

OUR VISION 

Our primary goal is to be the service provider against which all other TPA firms are measured.  We strive to become the eminence provider for qualified plan administration services in Puerto Rico.

OUR VALUES 

To provide high quality service with integrity, professionalism and respect for our clients and the community.

Pension Plus, Inc is a family owned company with executives who hold more than 30 years of experience in the qualified plan arena.  We're committed to providing plan sponsors with quality, personalized qualified plan design and administration services. We use the latest technologies, including top of the line administration software as well as direct link from carriers and DOL website.

With a remarkable range of talent and knowledge varying from simple to complex fiduciary and administration related issues, as well as CPA and attorney alliances in house at your service to better serve you. Our talented staff offers knowledge in all fields of fiduciary education, plan design, implementation and administration. We're poised to provide immediate customer service and accurate up-to-date reports.  We work hard to provide superior administration services on a timely, effective, and efficient basis, and maintain the highest standards' of professional integrity.  Our clients trust us to deliver on our commitments.  We have a proven track record of being responsive, accountable and accessible at all times.


"IF YOU LOOK AT WHAT YOU HAVE IN LIFE, YOU’LL ALWAYS HAVE MORE. IF YOU LOOK AT WHAT YOU DON’T HAVE IN LIFE, YOU’LL NEVER HAVE ENOUGH". —OPRAH WINFREY

 

SERVICES

We provide complete consulting, design, implementation and administration services as well as Fiduciary Services. With a focus on minimizing time the sponsor and their Human Resources personnel spend on their retirement plan, maximizing the benefits provided by the plan, and keeping our fees competitive and straightforward.  Whether the plan is a start-up plan or a takeover of an existing plan, qualified plan professionals are prepared to discuss plan designs, provide proposals, and evaluate fiduciary responsibilities

- Consulting
- Fiduciary Services
  • 3(16) Fiduciary
  • 3(21) Fiduciary
- Plan Design
- Implementation
- Administration
- Design and Implementation of Plan Policies  
- Fiduciary Services
  • Investment Policy Statement
  • Loan Provisions Statement
  • Education Policy Statement

CONSULTING

Our clients rely on us as experienced industry professionals and creative problem solvers in the qualified plan business.  We help our clients make practical sense of complicated technical rules and regulations with down to earth solutions using state of the art technology that yields measurable results.

  • Compliance Consulting
  • Design Consulting 
  • Assist in IRS/DOL & Dept. of Hacienda Audits
  • Department of Hacienda plan compliance

FIDUCIARY SERVICES

3(16) FIDUCIARY

Under section 3(16) of ERISA, Plan Administrators are responsible for the day to day administrative decisions of running the plan. This should not be confused with as a Pension Administrator or Third Party Administrator.  This includes evaluation and monitoring of:

  • Trustee(s)
  • Service providers
  • Investments offered under the plan
  • Investment advisor to the plan, fiduciaries or participants
  • Interpretation of plan documents
  • Making benefit determinations
  • Authorizing distributions

Under ERISA 3(16) administrator is a plan fiduciary and assumes the liability that comes with it.  Unlike with a Third Party Administrator, who only manages ministerial functions.

3(21) FIDUCIARY

Under section 3(21) of ERISA Investment Advisor fiduciaries share fiduciary responsibility with the plan sponsor. The plan sponsor, however, retains ultimate legal authority and must monitor the performance of the 3(21) fiduciary.  An advisor may be specifically appointed by the plan sponsor as a Section 3(21) fiduciary, or may assume that status by exercising discretionary control over the plan or plan assets.  Specifically, advisors become ERISA 3(21) fiduciaries if they:

  • Exercise any discretionary authority or discretionary control respecting the     management of the plan or disposition of the plan assets: or
  • Render investment advice for a fee or any other direct or indirect compensation
  • Have discretionary authority or responsibility in the administration of the plan
  • Named on the plan Document
  • Assists in drafting Investment Policy Statement (IPS)
  • Helps design initial fund menu
  • Monitors Menu
  • Recommends Changes
  • Recommends mapping strategies

PLAN DESIGN

In a marketplace filled with thousands of changing regulations and plan designs, we provide the tools and strategies to help pursue the sponsor's goals.  Providing them and their employees with a proven educational approach to help meet the client’s needs efficiently and effectively.

  • Defined Contribution Plans - Enable plan sponsors to define the financial commitment of the sponsor, whether that is setting a matching contribution in a 401(k) Plan or structuring a discretionary Profit Sharing Plan. Plan sponsors also receive an income tax benefit in the form of a deduction for employer and employee contributions to Defined Contribution Plans.  
  • Defined Benefit Plans - Generally enable employers to provide a specific monthly benefit to retired employees without a financial commitment by employees. 
  • Cash Balance Plans-  Are important solutions in situations where highly compensated individuals may be looking to increase benefits and minimize taxes.  These plans essentially combine the characteristics of a Defined Contribution Plan and a Defined Benefit Plan to meet a variety of situations.  We can help determine which solution is best for the client.

IMPLEMENTATION

We provide full implementation of qualified plan designs by generating all proper documentation needed in order to comply with the current regulations.  Whether the plan is a start up or an existing plan, the implementation process is led by an experienced implementation manager.  The entire team, works together using our proven methodology so that the necessary steps are taken to ensure a smooth implementation.  Client can expect a scheduled weekly call during the transition period, with additional check-ins on task status so that the transition stays on track with the client expectations.

  • Creation of Trust Agreement
  • Plan Document
  • Plan Adoption Agreement
  • Summary Plan Description
  • Coverage Worksheet
  • Determination Request
  • Trust EIN Application
  • Submission to PR Treasury Department 

ADMINISTRATION

As a leader in the 401(k) industry, we provide complete third-party administration services as well as fiduciary tools to help clients monitor their plan and meet their fiduciary responsibilities.  We provide participant communication materials and information to help them set retirement goals.  Once the retirement plan is in place, we keep it operating seamlessly and efficiently according to all laws and regulations during the life of the plan.

  • Employee Eligibility
  • Contribution Allocations
  • IRS Non-Discrimination Tests
  • Preparing and Filing of Government Forms (Form 5500 & 480.7OE)
  • Distribution and Loan Processing for participants
  • Preparation of Plan Amendments

Retirement plan administration services are key for employers looking to maximize qualified plan participation rates and compliance.  We assist Human Resources Departments in the day to day operation of the plan so the sponsor can focus on their business needs.  Our main goal is to take a plan from good to GREAT!!!

In today's employee benefits world, you need a partner...

 
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