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Plan Corrections & Consulting

"CRC has the expertise and experience needed to help plan sponsors correct plan mistakes under IRS and DOL corrections programs!"

Most common mistakes can be self-corrected as long as they are caught early and corrected. Other mistakes require filing with the IRS or DOL for approval. ​We specialize in helping plan sponsors correct plan failures and have helped numerous plan sponsors through the correction process, from making the necessary correction calculations through successful filing with the IRS. 

 

If you find your plan has failures, we are well-qualified to assist you! To learn more about plan corrections, please read our Blog on correcting mistakes in 401(k) plans. 

 

Our plan correction services include the following:

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  • Consulting services regarding operational compliance with laws, regulations and plan document provisions

  • Independent review of plans for operational compliance with plan document and applicable rules

  • Assistance and representation for Internal Revenue Service (IRS) and Department of Labor (DOL) audits

  • Assistance with correction of plan failures under the available correction programs established by the IRS and DOL, including calculations of corrective contributions and related earnings

  • Preparation and submission of VCP and VFCP filings

  • Preparation of Form 5330

  • Correction of late Form 5500 and 5500-EZ filings

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Our plan consulting services include the following:

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  • Plan design and funding projections

  • Nondiscrimination testing for complex plan designs and consolidated testing for controlled groups

  • Consulting  services for mergers, acquisitions and spin-offs

  • Assistance with annual plan audit including preparation of plan financial statements

  • Correction alternatives for plan testing failures

  • Due diligence review of plans during acquisition process

Plan Design - Getting it Right!

"CRC is dedicated to partnering with you to design a plan tailored around your needs."

A retirement plan is one of the most important benefits you provide your employees and good plan design is the foundation for its success. While there is great flexibility in how plans can be designed, it is critical that the features selected support your goals and objectives as well as your ability to properly administer the plan in an efficient and effective manner! 


With our extensive experience, we can help you establish a new plan or redesign your existing plan so that it is optimized to meet your unique requirements! We specialize in designing all types of defined contribution plans & offer:

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●    Funding projections and design illustrations
●    Consultation regarding the various design options along with the related costs and benefits 
●    Preparation of Plan Documents, Summary Plan Description, participant notices and administrative forms
●    Employee educational meetings and supplemental communications


”Getting plan design right” means providing the “right” design today and tomorrow. We recognize your needs may change in the future. In addition, the rules governing qualified plans are complex and ever-changing. We provide ongoing consultation and an annual plan review to ensure your plan evolves in this dynamic environment!
 

Plan Administration & Recordkeeping Services

"CRC can help you with the day-to-day administration of your plan."

After your plan has been designed, administration and compliance is fundamental to its ongoing success. It is important that you select a third party administrator who can help the plan run smoothly. Our comprehensive administration and recordkeeping services include:
●    Annual document maintenance to ensure compliance with regulatory requirements
●    Allocation of employer contributions
●    Participant distribution processing
●    Annual compliance testing
●    Reconciliation of trust assets with participant accounts
●    Preparation of plan sponsor reports, including summary of participant accounts, participant statements, testing reports and other related documents
●    Preparation of signature-ready Form 5500 and related schedules
●    On-going annual administration and consulting services

Services for Retirement Plan Professionals

"CRC works with many other TPAs providing technical consulting and customized publications."

In addition to providing services for employers who sponsor plans, we also offer services for TPAs and other retirement plan professionals. These services include technical consulting, correction of plan defects under available IRS and DOL programs, and customized plan sponsor communications and publications.

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