Retirement Plan Administration

Helping create a better experience

We specialize in delivering retirement plan administration services that meet your needs, and our services are ongoing even after implementing your program. You can count on our retirement plan administration team to continue to monitor and analyze your retirement plan administration and make recommendations based on law changes so your retirement plan is current, competitive, cost-effective and in full compliance with the DOL and IRS.

Serving companies with 25+ employees in all industries nationwide, we focus on the actions related to establishing and managing a company’s ESOP and 401(k) third-party administration (TPA) needs.

ESOP Administration

With hundreds of ESOP clients and 60 plus years of experience working with ESOPs, Boulay is uniquely positioned to bring you the right ESOP advice and ESOP administration services. When it comes to managing risk, monitoring law changes and making sure your ESOP plan satisfies specific DOL and IRS rules and regulations, you can count on Boulay’s ESOP Administration Team to deliver you the intelligence, resources and reports you need to administer your ESOP.

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

Once your ESOP is designed and implemented, our Retirement Plan Administration team can also provide the compliance expertise and 401(k) TPA experience that are critical to the long-term success of your 401(k) plan. Through our 401(k) TPA services for ESOP companies, we strive to be your go-to resource and ensure you feel confident that the DOL and IRS compliance and administration of your retirement plan are not overlooked.

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 experts save you the time, effort and money that would otherwise be spent on managing your retirement plan in-house. We monitor and assess changing dynamics to bring you timely and relevant recommendations. We ensure your retirement plan complies with strict regulations and simplify the complex issues – saving you headaches in the long run. Overall, our retirement plan administration services are aimed at creating a better experience for you and your team.

Our retirement plan administration services are customized to fit your needs. The services can be provided individually, or integrated with 401(k) investment advisory and ESOP advisory services, including distribution processing for ESOPs. With a direct point of contact at Boulay, you can count on getting advice and information from a benefits administration team member that knows your account and understands the importance of a timely response. Our goal is to keep your retirement plan administration services integrated and personal.

Reach out to our team of professionals to learn more about our retirement plan administration services for ESOPs.