Retirement Plan Services

Direct Administration Services to Plan Sponsors


Summit Benefit & Actuarial Services, Inc. administer all types of qualified plans, including 401(k), 403(b), defined contribution and defined benefit plans. We do not sell investment or insurance products. Our expertise is strictly in the navigation of the complex laws and IRS regulations that surround qualified plans. We pride ourselves in listening to our clients and creatively designing qualified plans that maximize their business objectives. We are widely considered experts in pension design, specializing in cash balance plans.

As a full-service firm, we provide complete hands-on administration of 401(k) and 403(b) plans each payroll period. Few TPA firms provide this level of service. Each payroll period Summit collects payroll data electronically from our clients. We determine participant eligibility for contributions, verify that the employees' salary deferrals equal their election forms, calculate the employer contribution, determine the investment splits for the deposits and provide the client with a signature-ready report to submit to the investment house or broker. We also interface with the investment houses electronically if they are capable. This process helps the client adhere to the strict Department of Labor salary deferral deposit requirements.

Our data processing services reduce the Plan Sponsor's internal administrative burdens, lower the internal soft costs of managing the plan and provide reports that are easy to audit and reconcile.

Our actuarial and administrative support for sponsors of defined benefit plans includes the following:

    • Plan design
    • Plan documents
    • Annual actuarial valuations
    • Cash balance and advanced plan design
    • Benefit calculations
    • ASC 715 reports
    • Preparation of Form 5500, including Schedule SB
    • Preparation of PBGC Annual Premium Filings (if applicable)