Specialty Services

At RPAS, we are fully committed to providing you and your clients with the most comprehensive array of cost-effective services possible when it comes to the design, administration and operation of qualified retirement plans. We guarantee that when it comes to retirement plan issues, you will find all the support you are looking for with RPAS.

Retirement Plan Termination and Corrective Action Services

When extraordinary circumstances occur, such as terminating a retirement plan or taking corrective action, RPAS has the experience to guide you through the process and to deal directly with government agencies on your behalf. In addition to other one-time specialty services associated with qualified retirement plans, we provide consulting and administration services for the following:
  • Plan termination – If your situation calls for a qualified retirement plan to be terminated, RPAS has the experience to see it through to the finish.  We understand the tax implications, legal requirements and operational options of all types of retirement plans and we can effectively handle the tedious paperwork and filing requirements imposed by the IRS and PBGC.  We do all this with minimal interaction by the plan sponsor except where required.
  • Corrective Action Services - If a mistake, oversight or some other event creates a situation in which voluntary corrective action with the Internal Revenue Service, Department of Labor, or other government agency is advisable, RPAS can support you from start to finish. When a mistake occurs, which happens sooner or later with most qualified retirement plans, the government often provides “amnesty” if proper actions are taken.  RPAS can handle the corrective action at much less expense than most law firms, then oversee administration of the plan going forward to ensure it meets all necessary requirements.
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Services to Streamline the Independent Audit

RPAS provides comprehensive support to the plan sponsor and their independent auditor to make the plan sponsor’s audit process as streamlined and cost-effective as possible. Among other tasks, RPAS prepares and double checks no less than the following each plan year:
  • Trust income statement;
  • Trust balance sheet;
  • All non-discrimination and compliance testing;
  • Signature-ready Form 5500 with all Schedules;
  • Verification of certain census and financial data provided to us; and
  • Examination of payroll information such as salary deferrals with the trust records to reconcile any differences and advise on any necessary corrective action.

We hand over all of this to the independent auditor on behalf of the plan sponsor and answer any questions which the independent audit firm may have. The close oversight we perform with every one of our clients serves to minimize the efforts of the plan sponsor of a retirement plan requiring an independent audit. The plan sponsor and auditor also recognize that the information we deliver to the auditor is prepared by an independent professional firm competent in the ever-changing rules of reporting and disclosure under the law and regulations. Our larger clients have recognized that the quality and comprehensiveness of our audit support services save them a lot of fees and time.
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Distribution Services to Larger Frozen Defined Benefit Pension Plans

In addition to offering comprehensive services through partnerships with national actuarial firms, we have developed a well-defined framework and tight procedures to handle the distributions to participants of frozen defined benefit pension plans through an automated web-based application. By combining this state-of-the-art application with personal service contacts with the participants requesting a distribution, this service will deliver the highest quality, professional oversight, and cost controls for pension plan sponsors with underfunded plans covering several hundred or a few thousand participants. Following the economic downturn starting in 2008 and erosion of trust assets in many frozen pension plans, these plans will now require cost-effective servicing for many years. In addition, many plan sponsors want their pension plan participants to receive the best service once they request their payouts from these plans. Our team, consisting of RPAS professionals and committed outside professional contractors under our strict oversight, is ready to make this state-of-the art service operational, once we have commitments to move ahead from plan sponsors with a sufficient number of participants to have the economies of scale in place. We will then be able to deliver higher-touch services to employees of underfunded pension plans at lower costs than most national actuarial consulting firms. If you have a client or prospect with an underfunded pension plan who may want to reduce costs while improving service, please contact us to discuss this opportunity.
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We All Want Satisfied and Successful Clients

Our team of experienced, independent and competent third party analysts and consultants will handle the plan with special needs with utmost care and provide the advice and services to ensure the plan sponsor is satisfied. Call us now at 804-288-8782 or toll free at 800-235-9649 to have us provide the relief your clients need.