- 401(k) Third PartyAdministrator - Westfield Pension Consultants is known to provide responsive and professional service and personal attention to companies and their participants. We work with a number of daily valuation platforms including but not limited to TransAmerica and Lincoln Financial Group. We review and consult with management on an on-going basis to ensure the retirement plan design is appropriate for your company. We design and administer 401(k) plans and draft retirement plan documents, We monitor the 401(k) plan to ensure its continued compliance with IRS discrimination requirements. We prepare employer notices and annual returns required by the IRS and DOL.
- Defined Benefit/Cash Balance Pension Plans - Westfield Pension Consultants provides pension plan designs for small to medium sized businesses and professional firms. We work with accountants, tax attorneys and wealth advisors to ensure the pension plan design is suitable for the company. We prepare actuarial valuation reports, employee benefit statements, actuarial certifications, and where ready applicable signature ready PBGC Form 1. We work with the company’s accountant in preparation of Financial Statement disclosures to comply with FASB requirements. Our actuarial valuations include AFTAP certifications and determination of the required contributions necessary to satisfy minimum funding standards.
- IRS/DOL Representation - As an Employer Retirement Plan Agent, we represent employer benefit plans before the Internal Revenue Service and Department of Labor with regards to plan documentation and IRS/DOL audit examinations.
- Plan Documentation - Westfield Pension Consultants designs or redesigns retirement plans to meet clients’ objectives. We use our IRS pre-approved volume submitter documents to prepare signature ready documents for the companies we represent. We ensure continued plan compliance and discuss legislative developments.
