How we can help

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Identifying the right plan for your business can be an intimidating and complex task. There are several ways to optimize your retirement plan for what you want to accomplish, however, there are mountains of information to review, compliance requirements to adhere to, and choices to make about how your employees will participate. The paperwork, confusing plan options, and navigating through ERISA laws are not as intimidating if you have a solid partner to depend on.

In general, there are several components to a 401(k) plan, and it may require several partners to manage one.

  • Fiduciary Advisors will generally provide guidance as to how to design the plan exactly for what you want to accomplish, and provide education and guidance as to what is in your best interest;
  • Recordkeepers keep accurate records of every type of transaction in the plan, for proper tax reporting, and provide plan access and statements to sponsors and participants;
  • TPAs (Third Party Administrators) create the plan documents, file Form 5500, and perform compliance testing;
  • Administrators manage and execute the plan – many times the Recordkeeper administers the Plan on behalf of the plan sponsor, plan trustee, or named Administrator
  • Plan Sponsors are the employers establishing the plan, and many times the named Administrator and Trustee of the plan’s trust that holds the assets
  • Custodians are usually brokerage firms that hold plan assets and provide the platform for transactions to take place.
    • Sponsors can work directly with their Fiduciary Advisors to manage the process with all of the component partners of the plan, or they can work independently with each partner to manage the plan, themselves.

Independent Recordkeeping, Inc. works with Investment Advisors, TPAs, Administrators, and employers/sponsors to provide accurate recordkeeping services, and to stay in compliance with ERISA law. Independent Recordkeeping, Inc. has the ability to work as a stand-alone recordkeeping partner, or we can bundle services to be the “one-stop shop” that most business owners desire. We can coordinate all plan activities, filings, guidance, and recordkeeping from plan creation to plan dissolution and everything in between. We establish an online platform for sponsors and participants to see and manage their retirement accounts while providing guidance to employers on how to optimize their own retirement plans. Independent Recordkeeping, Inc. is more than just a recordkeeper – we are your retirement partner.

Ready to talk to a knowledgeable advisor?