Say yes to BPAS Actuarial & Pension Services. We provide Defined Benefit (DB) Plan consulting, plan design, preparation of plan documents, and administration services for companies like yours across the US and Puerto Rico.

Plan Consulting

  • Discuss your needs and determine the best plan design to accomplish those objectives
  • Review existing plans to determine if any compliance issues need to be addressed, and outline the necessary corrective measures, if applicable
  • Review company issues with respect to any existing plans, and suggest solutions

Plan Design

  • Compare alternative plan designs, such asTraditional Defined Benefit, Cash Balance, or the addition of a Defined Contribution Plan (i.e., 401(k), Profit Sharing, Money Purchase, 403(b), 457(b), or 457(f) Plans).
  • Incorporate tiered benefits and contributions with multiple plans to achieve desired results

Plan Documents

  • A DB Volume Plan, Summary Plan Description, and support documents for adoption and submission to IRS (where applicable), both for Traditional DB and Cash Balance Plans.
  • A Puerto Rico-compliant traditional DB Plan or Cash Balance Plan, Summary Plan Description and support documents for adoption and submission to Hacienda.

Recurring Administration Services

  • Review of company data for reasonableness
  • Valuation:
    • Determine eligibility
    • Compute plan benefits and liabilities
    • Compute employer and employee (if applicable) contributions
  • Participant communication, including participant statements and required notifications
  • Nondiscrimination compliance and testing
  • Benefit packages, including statements for terminated or retired participants with required disclosures and election forms
  • All governmental forms to ensure compliance with regulatory disclosures and election forms
  • Secure online portals for plan sponsors and participants to streamline and expedite service delivery

Plan Termination Services

  • Review termination options
  • Prepare documents for plan termination, including necessary resolutions, amendments and/or restatements
  • Required participant notifications
  • Benefit packages and distributions of benefits to participants with required disclosures and election forms
  • All governmental forms and support documents, including everything required to reflect final distribution of plan assets

Next Steps

Want to learn more? Contact us at [email protected] or call 866-401-5272.