Employee Benefit Solutions, Inc.  
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Employee Benefit Solutions, Inc.


Because we are an independent consulting and administration firm, partnering with us ensures that the needs of you and your employees will be met.

Our services are not cookie-cut. This allows you the ability to customize your plan and the services that we provide to meet your needs. We will work the investment advisor of your choice and with any platform/fund family of your choice.

Options Available To Employer

  • Web-based platforms with sophisticated plan design options and employee driven investments – either with single fund families or a variety of funds and fund families
  • Pooled investment accounts where the employer chooses investments for the plan as a whole
  • Brokerage accounts – where the participant has a brokerage account at the broker chosen by the employer
  • A mix or variety of any of the above

Benefit for Employer

  • Opportunity to customize 401(k) plan and features to the employer’s needs
  • A valuable tool in attracting and retaining your most important asset – your employees
  • Flexibility in services provided because we do not mass produce
  • Third Party Administration and compliance services for testing, reporting and administrative services

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
Annual Compliance Testing and Government Reporting
Consulting Services
Support Services for Plans Using "Bundled" Products

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:

  • Consultation with employer to determine the goals of the employer and plan (i.e., maximize contributions for owners, maximize company tax return deduction, increase participation, etc.)
  • Review of current plan document to determine if plan document in compliance and discussions to determine if plan is operating in compliance with document
  • Analysis of employee population to determine best plan provisions to accomplish goals
  • Determination of which plan document best fits needs
  • Educating employer about provisions and regulations as they relate to qualified retirement plans
  • Create and discuss with employer different plan setup scenarios and the estimated growth of the employer to avoid plan design pitfalls
  • Completion of plan document adoption agreement or checklist
  • Preparation of Form 5307-Application for Determination Letter, if applicable
  • Prepare Summary Plan Description for distribution to employees
  • Prepare customized enrollment and administrative materials.

Defined Contribution Plan Recordkeeping and Administration

We perform the following services in order to provide smooth and efficient plan operation:

  • Calculate employee eligibility and plan entry.
  • Maintain participant vested percentage records.
  • Determine eligibility for allocation of employer contributions and forfeitures.
  • Allocate employer and employee contributions.
  • Allocate plan earnings, if not on daily recordkeeping system.
  • 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.

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:

  • Allocation of Employee Pre-tax Deferrals
  • Allocation of Employer Matching and/or Discretionary Contributions (includes running scenarios for Employer to determine what contribution is desired)
  • Allocation of Top Heavy Minimum Contributions (if required)
  • Preparation of Form 5500 Annual Report and related schedules
  • Preparation of Summary Annual Report (SAR) for distribution to Participants
  • Coverage testing (including disaggregation testing of 401(a), 401(m) and 401(k))
  • ADP/ACP testing (if applicable)
  • Corrective distributions for failed ADP/ACP test
  • Corrective distributions for exceeding 402(g) deferral limits
  • §416 Top heavy test
  • § 415 contribution limitation calculation
  • § 404 Employer contribution deduction limit
  • Reconciliation of deposits and withdrawals
  • Notification to employer when audit requirements are triggered
  • Annual Safe Harbor Notices
  • Annual Qualified Default Investment Notices

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.

Support Services for Plans Using "Bundled" Products

Companies that use "bundled" service packages are still responsible for the correctness of the information that they submit to the bundled provider and for the review of all materials received for correctness. In a "bundled" environment, we can provide the following services as support to our clients:

  • Be the tax advisor for the bundled plan. All notifications and testing results from a bundled provider instruct the employer to consult with their tax advisor.
  • Review and submission of annual compliance packages to bundled provider
  • Review of testing results received from bundled provider to make sure that all testing data used is correct, matches payroll records
  • Review of testing results received from bundled provider to make sure test is correct, request corrections, and notify employer that they can approve the test results
  • Review of vesting and census data integrity
  • Review of Form 5500 Annual Report and related schedules
  • Reconciliation of plan assets per bundled provider to employer payroll records to determine monies that are in-transit
  • Any other services deemed necessary to support the employer in their role as Plan Administrator

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