With more regulatory focus on retirement plan administration and activities, Plan Sponsors are spending more and more time handling these responsibilities in an ever-changing regulatory landscape. This allows less time to focus on business growth. RetireBetter’s Plan Administration Services can help remove much of this burden and lets a plan sponsor focus on what they do best – growing their business.
There are a number of questions every business owner should ask about a retirement plan provider when it comes to plan administration services:
· What steps are being taken to reduce my administrative burden so the business may focus on revenue-producing activities?
· Does my current provider send out required notices to participants and monitor employee eligibility, entry dates, and provide enrollment support?
· Does my current provider verify deferral calculations, manage my payroll processing, and monitor payroll suspensions?
· Does my current provider process loan and distribution requests automatically?
· What services are provided tohelp reduce the time my staff spends on administrative tasks related to myplan?
Plan Administration Services allows plan sponsors to save time and money by retaining RetireBetter to provide significant support for certain administrative tasks. Our professional team works with the plan sponsor to establish guidelines, and operate, at the sponsor’s direction, in helping alleviate administrative burdens.
If a business has any of the followingcharacteristics, it can benefit from Plan Administration Services:
· Decentralized payroll, multiple payroll feeds
· Multiple physical business locations
· Difficulty tracking employee benefit costs by location
· Hundreds or thousands of employees
· Desire to streamline business processes
· High employee turnover
· Limited human resources staff, lack of a professional plan administrator
With Plan Administration Services, RetireBetter acts proactively on behalf of a plan sponsor in the maintenance, enrollment, distribution and day-to-day plan administrative activities. Our specialists help make sure a plan remains in good status with attention paid to it on a daily basis. With ourPlan Administration Services, we assist with the administrative burdens so plan sponsors can focus on what they do best – running their business.