Retirement Plan Solutions, LLC.

Plan Operational Audits

Many Plan Sponsors feel the need to objectively assess the effectiveness of their administrative and investment providers. A plan operational audit can provide a plan sponsor with impartial and useful information in meeting their fiduciary responsibilities for the plan. The staff of Retirement Plan Solutions has the know how to proactively, respectfully and efficiently work with your plan administrator to provide you, the plan sponsor, with objective and valuable information regarding how your plan is administered on a day-to-day basis. Our in-depth understanding of record-keeping systems, operational procedures, and retirement plan administration provide our plan sponsors with a thorough report of operations.

Our plan operational audits focus on the following areas:

Assess compliance of procedures with plan provisions

Evaluate procedure documentation

Measure actual service performance to standards

Assess operational system abilities

Review forms and communications

Evaluate the timeliness and quality of services provided

Compare actual to best-in-class practices

Evaluate ability of provider to handle plan design changes

As a plan sponsor, you should feel comfortable with your choice in your plan administrator. A plan operations review is uniquely different from a financial type audit it requires an in-depth understanding of your plan, IRS code, record-keeping practices, operational systems, and administrative procedures. The best way to evaluate your plan administrator¹s effectiveness is through an independent review. We, at Retirement Plan Solutions can provide you with that quality review because of our knowledgeable team of experienced government plan operations experts. We know what to look for, and we are committed to providing you with a solid understanding of how your plan is administered each and every day.

Interested in receiving more information on plan operational audits?