Third Party Administration (TPA) and Consultation for Qualified Employee Benefit Plans or Pension Plans
DWD administers the following types of plans for sole business owners and small- to mid-size businesses and nonprofit organizations:
- Cafeteria plans
- Individual 401(k) plan
- 401(k) plans
- Pension plans
Administration services typically include:
- Preparation of Federal Tax form 5500
- Collection of census information
- Guidance to assist the business owner in maximizing their benefit from the plan
- Guidance on compliance requirements set forth by the Department of Labor and the Internal Revenue Service
Audits of Employee Benefit Plans and Pension Plans
Businesses and nonprofit organizations that provide an employee benefit plan and have at least 100 people eligible to participate in the plan, are required by the Internal Revenue Service to have the plan audited.
DWD audits employee benefit plans and pension plans for:
- Initial year plans that are required by the IRS to have additional audit procedures performed
- On-going plans that are administered by a CPA or (TPA) firm that is not permitted to audit the plan due to conflict of interest issues
Contact us for more information on DWD's third party administration (TPA) and consultation services and audit services for qualified employee benefit plans or pension plans.