If you sponsor a retirement plan, then you have a lot of responsibilities. Beyond making contributions every pay period, the fourth quarter of each plan year brings additional requirements. Benefit Resources, Inc. (BRI) is a Sacramento-based Third Party Administration (TPA) firm with 30 years’ experience helping business owners meet these annual requirements as they maintain low-cost retirement plans that exceed their expectations. 

As a Plan Sponsor you have the ultimate responsibility of knowing your plan is running properly. A good TPA will help you meet your operational responsibilities which include:
  • Plan documents – You should retain a copy of all historical plan documents and amendments. Documents are required to be updated periodically, so pay close attention to those requirements. At BRI we sponsor pre-approved retirement plan documents and post copies to our secure web portal for quick and easy access.
  • Census data – Review the information about each employee on payroll to confirm eligibility for the plan. At BRI we check to make sure that all dates of birth, hire dates, termination/rehire dates, and hours look reasonable. If we have any questions, we ask!