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Employee Benefit Plans

5500s

If your organization offers a retirement plan, health coverage, or other benefits to employees and has more than 100 participants in these plans, you need to file Form 5500 to remain compliant with the Department of Labor (DOL) and Internal Revenue Service (IRS). These forms must be filed electronically via the government’s EFAST2, which requires special software. We will help you navigate the rules and regulations, prepare the required filings, and facilitate the EFAST2 filing for you.

Affordable Care Act Compliance

We’ve all heard of the Affordable Care Act (or “Obama-care”) – but exactly how does it impact you and your organization? Are you in compliance with the evolving regulations and requirements? Whether your organization provides health care benefits or not, has more than fifty employees or fewer, we will help you comply with these federal regulations.

Employee Benefit Plan Audits – Full & Limited Scope

Does your organization offer a 403(b) or 401(k) plan to employees? If your organization sponsors a retirement plan covering more than 100 participants – the plan may require an audit. Apple Growth Partners is a charter member and active participant in the American Institute of CPS s/b CPAs Employee Benefit Plan Audit Quality Control Center. You can count on us to provide the knowledge, experience and staffing needed to provide a timely, high-quality audit and protect the assets and financial integrity of your benefit plan.

AGP provides full and limited-scope audits and ensures your compliance with the Department of Labor’s (DOL) requirements. We will also help you administer the plan. Remaining knowledgeable about and compliant with legal regulatory requirements is challenging – we can help.

Health & Welfare Benefit Plans – Design, Administration & Compliance

AGP will design the best benefit plans to meet your needs within your organization’s budget. In addition – we administer health and welfare plans including Flexible Spending Accounts (FSAs) and Health Reimbursement Accounts (HRAs) enabling your employees to select the benefits they want.

  • Wrap Plan Documents for Health and Welfare Plans
    Many employers are still not aware that a written plan document is required for each health and welfare benefit that is offered. A wrap document establishes a common umbrella plan and plan year for all of the component benefit programs, allowing you to file a single Form 5500 and avoid the costs and hassle of preparing separate Form 5500s for each plan. This also saves the time and expense of preparing a plan document and a Summary Plan Description (SPD) for each separate plan that may be due at different times of the year. It may also save costs on independent audit fees. A wrap document provides consistent information for all of the covered plans and reduces the chances of forgetting to file a Form 5500 for any one of them. We work with you to understand the benefits you offer and develop the wrap document.

Qualified and Nonqualified Plans – Design & Compliance Matters

Does your company offer a 403(b), 401(k) plan or profit sharing plan to employees? Whether there is a plan in place, or you are thinking about implementing one, we can help you with all aspects – from plan design to the details.

  • 401(k) and 403(b) Plans
    Employers can offer either 403(b) or 401(k) plans which allow employees to save for retirement by setting aside a portion of earned wages on a pre-tax or post-tax basis. We will work with you to design the best plan for you and your employees. Our flexible solutions allow you to select from numerous investment options – from bundled products to the more cost-efficient open architecture where you can select from over 19,000 mutual funds, and can include individually directed brokerage accounts. The employer may also make matching or discretionary contributions.
  • Profit Sharing Plans
    Employer contributions can be built into the features of the 403(b) or 401(k) plan. Profit sharing plans are a great vehicle to incentivize your employees to work with you towards a common goal. We will help you create the right plan for you, your company, and your employees. In addition to plan design – we administer plans and perform required compliance testing to protect the plan’s qualified status.
  • Cash Balance Plans
    A cash balance plan is a simplified type of defined benefit pension plan – which can be a great way to reward key employees whose compensation over the years may have been limited. We can help you determine if a cash balance plan is right for you, design it to meet your needs – and ensure that the plan is administered and maintained to comply with governmental regulations.
  • Nonqualified Plans  
    • Other nonqualified deferred compensation
      We work with you to design custom nonqualified deferred compensation plans that enable your organization to reward key employees or long-term valued employees and to facilitate their retirement.