Pension Services

For New Plans; if you currently do not have a qualified retirement plan, we can customize and tailor a plan based upon your business’s unique goals and objectives. If you have an Existing Plan and would like to increase the efficiencies, effectiveness, and general quality of the services you are receiving from your third party administration firm, we would be happy to discuss your Business’s Retirement Plan Objectives. Good plan design can help minimize plan costs and provide increased flexibility in the amount of the annual contribution. Learn about types of plans here.

Lang, Lang & Co offers Full Service Plan Writing, which includes the following:

• Retirement Plan Customization and Writing in accordance with EGTRRA (Economic Growth & Tax Relief Reconciliation Act).
• Preparation of plan amendments when needed and/or required to keep the plan in compliance.
• Writing and creation of the corresponding Trust.
• Employer Administrative Guide.
• Summary Plan Description for all Participants.
• Beneficiary Designation Forms for all Participants.
• Salary Deferral Election Forms for all Participants.
• Q&A Forms for all Participants.
• ROTH Notices for all Participants.
• All Joint & Survivor, Pre-Retirement, and Annuity Paperwork.
• Composition of all necessary IRS Paperwork.
• Working with the IRS in order to obtain a favorable Retirement Plan Determination Letter.

Once we have tailored a Plan that meets the Retirement and Financial objectives of your Business, we provide the following Administrative Services:

• Trust Accounting.
• Determination of Employee Eligibility.
• Preparation of testing and contribution projections if you are considering a new plan or a change in your plan design.
• All Applicable Non-Discrimination Testing.
• Calculation of required contribution, if any, and calculation of various contribution options that limit Employer Costs and Maximize Potential Contributions.
• Provide a detailed Recap and Summary of Participant Accounts.
• Create Participant Statements of Account.
• Provide a Summary Annual Report for all Pariticpants.
• Prepare Form 5500 and applicable schedules to be submitted to the IRS / DOL.
• Distribution Summary; including completion of Distribution Election Forms for those entitled to a distribution.
• Process Distributions for terminated and / or retiring participants.
• Review of QDROs for divorced participants.
• Process Loan requests, including preparation of promissory notes and amortization schedules.
• Handle audit of your plan by either IRS or DOL.
• Interact with enrolled actuary if you have a defined benefit pension plan.
• Interact and provide assistance with plan auditors if your plan has over 100 participants and is required to have a certified audit.
• Continually review plan design to be sure it is always fulfilling your objectives and preparation of plan amendments when these objectives or circumstances change.
• Preparation of required plan amendments to always keep your plan in compliance with IRS and DOL regulations.

Our expertise is in customized plan design that fits your business’s unique goals and objectives. Good plan design can help to minimize plan costs and provide increased flexibility in the amount of the annual contribution. In designing and maintaining your plan Lang, Lang & Co. will provide the following consultative services:

• During the design phase, we will review your objectives in terms of your industry, business goals, the owner’s, partner’s or shareholder’s personal retirement plans, the current and future demographics of employees, and the desired and available contribution options.
• We will consult with you regarding an array of plan features that will help meet these objectives.
• We continually review your plan design to ensure it is always fulfilling your objectives. We recommend and prepare plan amendments when these objectives or circumstances change.
• We prepare interim plan amendments required by the IRS to assure that your plan is in compliance with IRS and DOL regulations.
• We work with and train your employees to handle much of the day to day operation of the plan, thus helping to reduce your outside administration costs. 
• We meet with your employees periodically to answer their questions and education them about the plan so they can utilize and appreciate the plan you are providing for them.
• We are available at all times to answer questions and to provide any additional services that ease your Company’s burden of Plan Administration.