By Helping You Administer Your Retirement Plan, We Help You Concentrate on What You Do Best… Run Your Business.

There’s no question that 3(16) Administrative Services are Necessary to Ease the Pressure of an Employer’s Ongoing Responsibilities of an Organization’s Retirement Plan.

Under separate service agreement, August Benefits will handle the massive amount of data collection, reporting and general administration of your retirement plan. These tasks are typically part of your responsibility and although as an employer you still have fiduciary responsibility for the plan, our services will eliminate the time-consuming minutia and allow you more time to grow your business. This is especially helpful for companies that are working with a smaller staff and cannot dedicate bandwidth to dealing with these details.

this is what is included in the august benefits 3(16) services administration program:

• Review fidelity bond for compliance with ERISA requirements

• Administer loan policy

• Approve corrective refunds

• Approve hardship withdrawals

• Approve in-service withdrawals

• Approve loans

• Approve Qualified Domestic Relations Order (QDRO)

• Approve Required Minimum Distributions

• Approve separation of service distributions

• Monitor loan defaults

• Reconcile participant level contributions with plan trust

• Determine eligibility

• Review and upload vesting to plan providers

• Search for missing terminated participants (as necessary)

• Mail notices and disclosures to employees

• PREPARe and file Form 5500

• PREPARE and file Form 8955-SSA (if applicable)

• Review large plan Form 5500 and audit report (if applicable)

• Manage involuntary distribution of small balances (force-outs)

• Monitor missing beneficiary designations (if applicable)