Defined Benefit Plans in Services

Preferred Pension Planning Corporation works vigorously to provide options for our clients because we know each client’s retirement plan objectives are unique. Using the latest technology, PPPC provides the essential actuarial and administrative assistance you require to fully manage your plan.

Defined Benefit plans, which include both traditional defined benefit plans and cash balance plans, provide for a determinable benefit at a specified retirement age. A Defined Benefit plan is frequently used when the level of benefits and/or contributions in a stand-alone defined contribution plan is insufficient. Preferred Pension Planning Corporation will help you design a plan that delivers the desired level of benefits to different groups of plan participants, while remaining compliant with multiple requirements and keeping the contribution within a desired range.

Preferred Pension Planning Corporation keeps your plan on an annual cycle of review and reporting to make sure that the plan operates smoothly and stays in compliance with all rules and regulations. Once we collect the information we need, our review and reporting include the following:

• Review of all plan provisions to make determine if any changes would be beneficial to the company
• Review of all administrative procedures to determine if any improvements can be made in efficiency, accuracy, or to save time
• Determination of participant eligibility to participate in the plan
• Reconciliation of trust assets
• Completion of the plan’s actuarial valuation to determine the minimum required and maximum deductible contributions
• Calculation of any benefits payable from the plan, including preparation of all required forms and notices
• Preparation of requirement government filings, such as Form 5500, PBGC Comprehensive Premium Filing, and Forms 1099-R
• Preparation of Annual Funding Notice or Summary Annual Report, as appropriate, for distribution to participants
• Determination of any required minimum distributions
• Preparation of benefit statements to be distributed to participants
• Submission of an actuarial valuation report
• Preparation of any plan document amendments and participant notices required to keep plan in compliance

Although maintaining a plan entails many responsibilities and duties, Preferred Pension Planning Corporation is here to make it easy for you, by providing all of the forms, instructions, and advice to guide you along the way. Our ultimate goals are to make sure your plan delivers benefits to the intended participants, stays compliant with all requirements, and is appreciated by the company and the participants alike.

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