Watson Financial has several relationships with local TPA’s for employers to choose from. These relationships have been built over decades and serve as a valuable asset for our clients looking for Pension Administrative services. We work closely with all our TPA’s to ensure a smooth experience.
Plan design is one of the most important components of a successful retirement plan. Our credentialed staff will provide consultation through each step of your plan design process. Whether designing an employee matching contribution, determining the proper eligibility and vesting parameters or deciding which plan features to include in your plan, our team will help customize your plan for an effective and robust program for employees and executive staff.
Throughout the plan installation process, our team will assist the employer and the client’s financial professionals with administrative support with guidance to successfully create a new retirement plan or transition from a previous retirement plan program.
The TPA’s we entrust will communicate with plan auditors to help them navigate through employee data, plan documents, annual testing and reporting requirements so the audit team will be prepared to complete a thorough and effective annual plan audit.
Complicated regulations and parameters in today’s plans require sophisticated software and experienced professionals to help employers navigate through a variety of compliance tests. The TPA’s we work with will help the employer understand in layman‘s terms, how they can operate a plan within the rules and satisfy the ERISA Guidelines and stay within the boundaries of other government rules and limits.
In some cases, a customized plan will be the most effective retirement solution for a small to midsized employer. Popular plan design programs such as Defined Benefit, Cash Balance and New Comparability or Cross Testing will create effective strategies for long-term retirement planning success. TPA’s will assist the employer in looking at all the data and fact gathering criteria to create these beneficial programs working with actuarial assumptions to create a truly custom designed outcome.
The administrative services provided by TPA’s not only provides the documentation, reports and testing required for plans on an annual basis, but can also assist the client with regular plan checkups, consultation and plan design adjustments.