Defined Contribution Administration
With The Pension Source as your plan administrator, you’ll have
a partner adept at managing all aspects of your retirement plan.
Our goal is the smooth and efficient operation of your plan.
To that end, our services includes:
Calculating employee eligibility and plan entry, as well as maintain participant vested percentage records
Loan processing, including: establishing loan accounts, preparing promissory notes and
amortization schedules, and tracking loan repayments and managing loan defaults
Processing fund transfers in accordance with participant elections
Hardship withdrawal processing: determining distribution
amounts and preparing application forms
Determining eligibility for allocation of employer and employee contributions and allocating forfeitures when needed
Reconciling trust accounts
Distribution processing, including: calculating distribution amounts;
preparing required notices, release forms and IRS Form 1099-R
Preparing customized participant statements
Monitoring of Required Minimum Distributions for participants who reach age 70.5