At PSI, we believe in a team approach.
Our staff includes two ERISA attorneys with 50 years of experience in the pension industry as well as a certified legal assistant.
We also boast a world-class accounting department which specializes in pension and retirement planning.
Our administrators and actuaries also contribute their expertise.
We call this our ‘A’ team– actuaries, accountants, administrators, and attorneys all focused on retirement planning and maximizing contributions.
In engaging Team PSI, the client has at their disposal a full range of retirement, accounting, and legal talent.
This allows us to accomplish the following:
- Design a customized plan based on employee demographics, income, cost constraints, goals, tax issues, potential participants, and funding options.
- Prepare the necessary IRS approval forms as well as annual DOL and PBGC reports; provide IRS, DOL, and PBGC audit support; work with investment providers to implement the plan; prepare required plan documents; provide notices to participants; monitor changes in legislation, regulation, rulings and court decisions.
- Provide ADP and ACP contribution testing; non-discrimination testing; annual and estimated contributions; benefits statements; valuation reports; annual reports; participant account records; forms 5500 and 480.70; termination and liquidation.
- Collect census data for compliance and validation purposes, checking K-1, W-2, Schedule C income; hours worked; date of birth; date of hire; date of termination; social security numbers; marital status and owners/officers.
- Calculate vested benefits; process loans; handle in-service, termination, and hardship distributions; generate 1099(R), 945, and 1096 forms.
While the PSI team prides itself on covering virtually every aspect of retirement planning, each client, and each retirement plan, is unique– and deserves its own procedures and objectives. By applying the talents of a diverse group of professionals as a team, the client is more likely to obtain the desired result than if they had contracted these services in piecemeal fashion.
Working as a team has many benefits. For instance, tapping into the talent pool has allowed us to develop in-house software tools. Applying the mathematics of life contingencies, actuarial cost methods, and custom formulations enables us to maximize contributions for key employees.
These are bonuses you won’t find at other retirement planning firms.
Other companies may offer retirement planning, but few can boast the variety of talent we have at PSI– unless they are a Fortune 500 mega-company which would not give each client the attention they need and deserve.
At PSI, we combine the best of both worlds: world-class, professional staff in a tightly-focused, nimble corporation.