Retirement Plan Administration in Mankato

Comprehensive Retirement Plan Administration

Boulay’s retirement plan administration services are continuous and adaptable to meet your needs. After your program is implemented, our team actively monitors and reviews your plan, offering recommendations to keep it current, competitive, cost-effective and compliant with DOL and IRS regulations.

Our retirement plan administration services are designed for companies with 25+ employees across all industries. We assist in establishing and managing your company’s ESOP and 401(k) third-party administration (TPA) requirements. Though we serve clients nationwide, our Mankato office is conveniently located on Madison Avenue.

Office Hours
Monday 8 – 4:30 PM
Tuesday 8 – 4:30 PM
Wednesday 8 – 4:30 PM
Thursday 8 – 4:30 PM
Friday 8 – 4:30 PM

ESOP Administration

With over 60 years of experience and hundreds of ESOP (Employee Stock Ownership Plan) clients, Boulay is uniquely equipped to provide you with expert ESOP guidance and administration services. Boulay’s ESOP Administration Team provides the expertise, resources and reports needed to help you manage risk, monitor law changes and ensure your ESOP meets DOL and IRS regulations.

Our experienced ESOP administration professionals offer continuous monitoring and ongoing compliance with:

Year-end accounting and allocation of income and contributions
Preparation of a summary annual report for the participants
Preparation of Form 5500 and related schedules for filing with the DOL
Annual preparation of individual participant statements
Top heavy testing, Sec. 415 limit testing, Sec. 404 tax deduction testing and Sec. 410(b) coverage testing
Analysis of Sec. 1042 allocation limitations
Record keeping for termination, and commencement of benefits
Review of fidelity bond coverage
Preparation of Form 1099-R regard to distributions to participants (if needed)
Preparation and mailing of annual distribution forms (if needed)

ESOP 401(k) TPA Services

After your ESOP is implemented, our Retirement Plan Administration Team can offer the compliance expertise and 401(k) TPA experience that are essential for your plan’s long-term success. Our 401(k) TPA services for ESOP companies are designed to be a trusted resource, giving you confidence that DOL and IRS compliance and the administration of your retirement plan are thoroughly managed.

The 401(k) TPA services we provide for ESOP companies’ qualified plans include:

Administration of 401(k), profit sharing, solo, and cash balance plans
Annual projections and illustrations for employer contributions and preliminary testing
Annual non-discrimination testing
Assistance with participant distributions and loans
Preparation of Form 5500 and related schedules
Assistance with required notices and disclosures
Support for IRS, DOL, and large plan filer audits
Interdepartmental support from a team of tax, audit, and estate and trust CPA’s
Education on recent law changes and proposed legislation

streamlined retirement plan administration solutions

Boulay’s dedicated professionals help you save time, effort and money by overseeing your retirement plan, ensuring compliance with strict regulations, and simplifying complex issues. Our retirement plan administration services are tailored to your needs and can be integrated with 401(k) investment advisory and ESOP advisory services, including ESOP distribution processing. At Boulay, you’ll have a direct point of contact, providing personalized guidance from a knowledgeable retirement plan administration team member who values timely responses. Contact us to learn more about our retirement plan administration services for ESOPs.