You now have the option of hiring the ABA Retirement Fund’s preferred provider, National Professional Planning Group (“NPPG”), an ERISA 3(16) fiduciary, to complement the services provided as part of the ABA Retirement Funds Program (“Program”). NPPG can serve as the administrative fiduciary for your retirement plan with the Program, acting as an extension of your organization’s administrative team.
NPPG services can help you with many administrative functions:
- Reviewing and approving participant transactions (e.g., loans, withdrawals, and beneficiary maintenance).
- Reviewing, signing, and filing your Form 5500.
- Supporting non-discrimination testing.
- Ensuring your plan is being administered in compliance with the Plan Document.
- Distributing regulatory notices to participants.
- Remitting and monitoring contributions.
- Performing testing required under Section 410(b) of the Internal Revenue Code (often referred to as “coverage testing”). (Please note: the Program’s standardized plans are designed to pass coverage testing (and therefore, for standardized plans, coverage testing is not required). However, the Program’s non-standardized plans may utilize the 1,000 hour or last day rule, in which case coverage testing is required. NPPG can help you by performing this test that is not part of the Program’s standard compliance testing and calculation package).
Watch this video to find out more about how NPPG can help you.
Did you know that all firms who provide a retirement plan for their employees have a fiduciary responsibility to keep the plan compliant with the Employee Retirement Income Security Act of 1974 (“ERISA”)?
If you are interested in learning more about the ERISA 3(16) Fiduciary Service, contact the Plan Administrator Line by phone at 800.752.6313 or by email at contactus@abaretirement.com.