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Morehead Plan Administrators can perform these services:
- Establish plan specifications and assist your legal counsel (to the extent requested) in drafting documents and preparing governmental forms to establish the plan's qualification under the Internal Revenue Code
- Provide an employee booklet describing the plan in detail
- Perform actuarial studies for plan amendments, mergers or termination
- Perform actuarial valuations for defined benefit plans
- Allocate contributions, forfeitures and earnings for defined contribution plans
- Prepare statements for each participant showing benefits, account activity and balances
- Perform anti-discrimination (ADP, ACP, etc.) tests on contributions
- Prepare Annual Return/Report for filing with the IRS
- Prepare Summary Annual Report for participants as required by ERISA
- Compute benefits due participants or beneficiaries on account of retirement, disability, death or severance of employment
- Administer loans, if permitted by plan
- Assist with the investment of funds in a financial portfolio structured to meet the employee's needs
- Assist with employee education and communication through the group enrollment process
- Perform other routine administrative services as required, such as telephone conferences to assist company representatives