As a Third Party Administrator, we administer both "balance forward" plans and "daily valued" plans. In addition to our general consulting (plan design, enrollment meetings) and recordkeeping (payroll processing, investment transfers, employer contribution calculations), we perform the following services:
IRS Minimum Participation Test (I.R.C. Sec. 401(a)(26))
In addition to compliance testing, we also determine a participant's eligibility and vesting, determination of Highly Compensated and Key Employees, and calculation and allocation of matching and / or profit sharing contributions.
We will also assist plans with their Hardship Distribution Procedures, Participant Loan Policy, QDRO Determinations, Self-employment calculations, rehired participants buy-backs, cross-testing calculations and controlled group determinations.
We will complete all of the necessary government filings in regards to the annual Form 5500 package. This includes the Form 5500 and any of the related schedules, including Schedule A, C, D, E, F, G, H, I, P, R, SSA, and T.
Processing Termination & Retirement Benefits
Upon termination or retirement of a covered employee, The Vargo Company will provide the necessary forms to the Participant so that payment of benefits can commence in a timely manner. The termination or retirement package will include a detailed description of the options available under the plan, Federal Income Tax withholding instructions, spousal waivers, and any other information pertinent to the participant requesting the distribution.
Routine Plan Administration
As needed we will furnish assistance with routine administration of your retirement plan. This will include responding to questions concerning plan provisions, providing administrative assistance in the completion of various forms, etc. As regulations are enacted, we will address the changes and amend documents or forms as needed.
We sponsor a full range of IRS-approved Prototype Plan Documents for Cash or Deferred Arrangements (401(k) plans), Profit Sharing, Money Purchase, Age-Weighted, and New Comparability Plans. These documents provide a cost effective, efficient approach to plan design and implementation.