Employers face a range of administration issues when running a plan. Some providers do all the work for you (and charge you for it), while others expect you to do the work. Either way, Employers are still liable for the administrative work required by law. With varying degrees of knowledge and experience, Employers are typically on their own.
BLUE HAWK Retirement helps solve this issue by offering professional third-party plan administration. Employers are no longer responsible for things such as:
- Eligibility Tracking
- Edibility Notices
- Required Notices
- Plan Testing
- Contribution Limit Tracking
- Distribution Paperwork and Processing
- Loan Paperwork and Processing
- Form 5500 Signature and Filing
- Audit (large plans only)
- Daily Compliance
- Legislative Supervision
Professional Plan Administrators take care of running the plan, so that you can take care of running your business. Unfortunately BHR can’t do everything, so some things stay with Adopting Employers:
- Payroll File Updating and Submission
- Contribution Remittances (although we can automate)
- Annual Census File Submission
- Corrective Actions (if needed)
- Employee Address Corrections
