Defined Benefit Plans
Small Defined Benefit Plans
Nova 401(k) Associates also has on-staff actuaries to provide services to tax-motivated defined benefit plan services, including:
- Design and implementation of owner-only plans, tiered defined benefit plans, and cash balance plans
- Preparation and maintenance of plan documents
- Preparation of IRS determination letter filings, as required or requested
- Preparation of summary plan descriptions
- Summary Annual Report and Annual Funding Notice preparation
- PBGC premium
- Annual nondiscrimination testing
- Electronic filing of Form 5500-SF and paper filing of Form 5500-EZ, as required
- Form 8955-SSA preparation
- Annual Individual participant statements
- Actuarial valuation reports and AFTAP certifications
Large Defined Benefit Plans
Nova 401(k) Associates’ actuaries all have experience working on mid-size and large plans:
- Coordination with your outside ERISA attorney or preparation of plan documents including summary plan descriptions and as required IRS determination letter filings
- Annual funding notice preparation
- PBGC Form 1 and PBGC Form 1-ES as required
- Annual nondiscrimination testing
- Electronic filing of Form 5500
- CPA audit support including FAS 35 calculations
- Form 8955-SSA preparation
- Annual Individual participant statements
- Actuarial valuation reports and AFTAP certification
- Consultations regarding required quarterly contributions
- Frozen plan expertise
- Development of strategies to work with plan sponsors to get their frozen plans to fully funded status so that they can be terminated
- Financial accounting calculations including pension expense and footnote disclosures
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