Qualified Retirement Plans

Federal regulations and administration requirements make 401k, Profit Sharing and other qualified plans a difficult challenge for clients in many different ways. O'Neill & Gaspardo LLC's dedicated ERISA team focuses on the audit compliance and administration issues related to qualified plans.

Audits

• Plans with over 100 participants are required to have an annual audit, this is specialized work big Four firms cannot do cost effectively and smaller firms lack expertise..

5500 Preparation

• Annual filing requirements.

Third Party Administration (TPA)

• Available for 401k and profit sharing plans to follow guidelines and account for plan assets. TPA "specialists" are often under qualified with high turnover and poor responsiveness/client service.

Adoption & Amendments

• To remain qualified, plans must be filed and updated with the Department of Labor. Disqualified plans are subject to penalties and other problems.