Defined Contribution plans in Services

Respectable employee benefits are crucial to a business’s success. Having a reputable retirement plan can elevate an employer into the top echelon in the field and help attract the best potential hires. A well-designed and efficiently run retirement plan demonstrates that the company cares for the stability and long-term future of its employees.

Defined Contribution plans are the most popular plan among both employers and employees for many reasons. They provide the opportunity for both parties to contribute toward the employees’ retirement and offer flexibility in the timing and amount of contributions. While the primary purpose of the plan is to provide for retirement, the plan can also be designed to allow participants to borrow from their accounts to meet other financial needs; or in the event of severe financial hardship, to receive a distribution before retirement age. Plan assets can be trustee-directed or participant-directed. Dollar-cost averaging, the ability to diversify plan investments, and the power of compound interest are all effective tools for helping employees accumulate substantial retirement savings.


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
  • Determination of proper contributions to be made to the plan and assistance in the contribution process
  • Allocation of contributions, forfeitures, earnings, and expenses
  • Completion of compliance testing, including top-heavy determination, coverage tests, and nondiscrimination tests (including ADP/ACP and new comparability tests)
  • Processing of loans and distributions, including preparation of proper documentation
  • Reconciliation of trust assets
  • Preparation of requirement government filings, such as Form 5500, Summary Annual Report, and Forms 1099-R
  • Determination of any required minimum distributions
  • Preparation and/or review of account balance statements to be distributed to participants
  • Submission of a report
  • Preparation of any plan document amendments and participant notices required to keep plan in compliance

Our dedicated advisors will be with you every step of the way and prove why our name is Preferred Pension Planning Corporation.



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