Ekon: Expert Third Party Administration

As a plan administrator, you carry the responsibility of ensuring your retirement program runs smoothly, remains compliant, and serves your plan participants effectively.

Partnering with a Third-Party Administrator (TPA) can alleviate many of the day-to-day burdens that come with plan administration. TPAs help ensure retirement plans comply with Internal Revenue Service (IRS) and Department of Labor (DOL) regulations. They update plan documents to meet current standards, prepare annual reports and tax filings, and assess the plan’s compliance with coverage and nondiscrimination rules each year.

Unlike providers with impersonal call centers, Ekon assigns a dedicated plan specialist (DPS) to every client. Your DPS gains a deep understanding of your plan’s unique structure and the specific needs of your workforce. This personalized approach ensures that you receive prompt, knowledgeable assistance whenever you need it.

As your Third-Party Administrator, Ekon can take on the following responsibilities:

 
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  • Consulting on legislative and regulatory changes
  • Designing customized retirement programs
  • Plan implementation and educating participants on plan features
  • Preparing annual reports and tax documents
  • Assessing plan funding strategies
  • Drafting and amending retirement plan documents
  • Performing annual coverage and discrimination testing
  • Assisting with plan terminations
  • Reporting on retirement account activity
  • Performing company and participant meetings

Our services don’t end after implementing your plan; we provide ongoing, personalized support throughout the entire lifecycle of your retirement program.

Ekon Is Your Trusted Plan Administration Provider

We take the guesswork out of retirement plans.

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Stay Compliant with Ekon’s Expertise, Protect Your Plan

Leave the complexities of ERISA compliance to the professionals. Ekon’s team stays ahead of regulatory changes, proactively updating your plan to help ensure overall compliance and protect plan sponsors and participants.

Many of our dedicated plan specialists (DPSs) are accredited members of respected industry organizations like the American Retirement Association, and they perform the following compliance tasks for our clients:

  • Preparation of Form 5500: Under ERISA, a Form 5500 must be filed annually for every qualified retirement plan. Ekon handles the preparation and filing of this form on your behalf.
  • Coverage, ADP, ACP, and Top-Heavy Testing: Plans must be tested annually to ensure compliance with coverage and nondiscrimination rules. We perform required testing to ensure your plan meets regulatory standards.
  • Plan Document Updates: As retirement laws evolve, plan documents must be amended accordingly. Ekon helps ensure your documents are updated to comply with the latest regulations.
  • Preparing a Summary Annual Report (SAR): ERISA mandates that all plan participants receive a SAR annually, which summarizes the data reported on Form 5500. We prepare the SAR for your participants.

Let’s simplify compliance for your retirement program. Contact Ekon today to learn more.

Make the Switch to Ekon Benefits

We are here to help. Take the first step in becoming a valued client of Ekon Benefits.

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Or write to info@ekonbenefits.com