Goodman & Company makes retirement plans easy and affordable.
Retirement Plan Administration
Goodman & Company's Retirement Plan Division offers consulting services specializing exclusively in the design, implementation and administration of retirement plans.
Comprehensive, Low-Cost Plan Administration
Goodman & Company makes retirement plan administration easy and affordable. Our experienced retirement professionals work with each employer to include the benefits that best meet their individual long-term goals. As your Third Party Administrator, we act as the plan sponsor's advisor to provide ongoing plan technical advice and consultations.
We offer plan sponsors access to a variety of investment and recordkeeping options through our strategic alliances. At Goodman & Company we are knowledgeable with regard to a number of the major platforms but we do not sell or recommend specific investments. Our Retirement Specialists act independently as your partner to coordinate seamless plan administration with your financial advisor and investment platform. Together we focus on education and compliance to provide an easy solution to your retirement plan needs.
Our flat fee structure provides plan sponsors with the opportunity to offer a valuable retirement benefit at the least possible cost.
Plan design and implementation for- 401(k)
- Profit Sharing
- New comparability (cross-tested)
- Cash Balance
- 403(b)
- Compliance / discrimination testing
- Reconciliation of plan assets
- Distribution / loan processing assistance
- Preparation of required filings and summary annual reports
- Plan mergers and spinoffs
- Assistance with IRS and DOL audits
- Assistance with IRS and DOL correction programs
- Plan terminations
- Asset and recordkeeping conversions
- Consulting engagements
- Attract and retain key employees
- Offer an effective way to accumulate retirement savings
- Gain significant tax advantages
- Improve employee morale
- Independent advisor
- Technical advice regarding complex retirement plan laws and regulations
- Act as a liaison between investment platforms and the plan sponsor
- Assist the plan sponsor with IRS and DOL compliance
- Ongoing plan design assistance to ensure maximization of contributions at the least cost
- Completion of compliance testing and preparation of required reporting
Retirement Plan Audits
Goodman & Company's Retirement Plan Audit Group focuses on providing comprehensive employee benefit / retirement plan audit services. Our dedicated team of auditors receive ongoing training in this highly specialized audit area.
In November 2007, the US Department of Labor issued amended regulations eliminating previously granted to 403(b) plans from the annual Form 5500 reporting, disclosure and audit requirement. Now 403(b) retirement plans are generally subject to the same reporting requirement as 401(k) plans starting with the first plan year beginning in 2009. Large plans subject to these rules now require an annual audit.
As one of the top retirement plan audit providers in the country we provide our clients with the efficiencies and confidence gained by having a knowledgeable experienced staff. Unlike many audit firms, our quality control partner and his staff work year round in this technical area and are able to stay on top of the frequent changes and compliance issues involved in the audit of employee benefit plans.
