Tell me about Abacus Retirement Plan Consulting
Abacus RPC is an outsourced retirement benefits support for Plan Sponsors. If a Plan Sponsor cannot afford to have their own dedicated in-house employee to manage their retirement plan, Abacus RPC can help by bringing 20 years of experience to the benefit team.
What if the Plan Sponsor already has a consultant, broker or third party administrator?
As mentioned, Abacus RPC acts as part of the benefits team, working in-house for the company. So Abacus RPC will work closely with the advisor, consultant and/or third party administrator to ensure that the retirement plan is running on all 6 cylinders.
Abacus RPC comes at a significant discount in comparison to hiring a w-2 employee.
I need them to understand that the consultant and tpa does not deep dive into their payroll systems, and internal operations daily. Need them to understand that I work IN-HOUSe for the Plan Sponsor.
How does Abacus RPC benefit me?
It allows a subject matter expert to manage your program and or issues that may have arisen pertaining to the plan. Leaving your benefits team member to focus on your other benefit programs such as your health and welfare, dental, vision, workers compensation.
What can Abacus Retirement Consulting do for me?
Abacus RPC offers the following services to a plan sponsor:
- Annual Compliance Support – your dedicated internal representative for Annual Plan Audits, or Non Discrimination Testing
- Internal Operations Support – Manages daily administration, such as contribution submission, start and stops, hardship and loan oversight, monthly reconciliation, participant issues and much more.
- Administrative and Operation Review – Abacus RPC will dive into the details of your entire plan administration…..annual accumulators, match calculations, etc.
- Retirement Plan Oversight – Upon a complete Administrative and operational review, Abacus RPS will ensure that the ongoing management of the plan is on point.
- Special Projects – Abacus RPC will handle all M&A activity, payroll implementation, vendor selection and implementation, and any necessary EPCRS corrections.
For more information, see our Services Offering.