Plan Administration Services Chart
Having a specialized plan advisor can significantly reduce your administrative burden, saving you time and money when it comes to managing your retirement plan.
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Fisher\SMB Solution
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Vendor Management
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Provides access to administrative fiduciary solutions, including 3(16)
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✓
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Supports ongoing service provider negotiation, monitoring, and evaluation
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✓
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Proactively advocates for best-for-client services and pricing with all plan service providers
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✓
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Dedicated Point-of-Contact
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Provides a dedicated point-of-contact for all plan servicing needs
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✓
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Ongoing Plan
Administration |
Meets with plan committee annually to review plan health metrics and discuss opportunities to improve plan performance
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✓
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Assists with payroll setup, training, and coordination
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✓
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Analyzes plan design
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✓
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Assists with employee notices, including delivery to the Plan Sponsor
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✓
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Proactively assists with former employees with a balance
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✓
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Annual Compliance Testing
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Provides annual support for IRS Form 5500 preparation and filing
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✓
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Provides ongoing support for annual compliance testing
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✓
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Liaise between plan providers to complete timely compliance testing, and provide ongoing tailored solutions for plan optimization
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✓
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Daily Plan Management
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Assists with plan governance and reviews requirements under Section 404(c) of ERISA
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✓
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Creates and assists with fiduciary audit file
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✓
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Benchmarks plan provider services and fees with third-party data to support ongoing due diligence
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✓
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Service Provider Transition Support
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Facilitates seamless service provider transition with dedicated support during plan installation, ongoing, and as needed
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✓
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Attends all plan installation calls, and coordinates communication and work across all plan service providers
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✓
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Learn More about
Retirement Plan Administrator Services
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