Plan Design

In designing a retirement plan, your organization's primary objectives are taken into consideration to tailor a qualified plan that includes all tax benefits and business efficiency benefits.

Qualified Retirement Plan Strategy

The design phase includes informal discussions to identify specific needs and requirements, budgeting restraints, and basic provisions. TPA Services, Inc. can customize a plan, using prototypes we have developed for easier facilitation, or amend a pre-existing plan.

The following steps are taken in designing a Qualified Plan:

  • Overview of your organization's history, type of business, management objectives, personnel policies, employee termination or turnover experiences, and any human resource factors that might affect the plan;
  • Interpretation of employee information (provided by your organization) to determine benefits and contributions under different plan strategies;
  • Review of allocations using various formulas and benefit projections for defined contribution plans;
  • Determination of government compliance of the plan (if customized);
  • Design of plan specifications such as eligibility, vesting options, benefit or allocation formula, retirement dates, and distribution methods.