Defined Contribution Services
News & Updates
National actuarial and employee benefits firm Swerdlin & Company promotes Lee Swerdlin to President and COO.
Swerdlin & Company has provided defined contribution plan services for over three decades, even before 401(k) plans were popular. Swerdlin’s goal is to provide plan sponsors, participants, and investment advisors a user friendly experience for administration. We achieve this by simplifying the administrative process and making it as flexible as possible.
- We assign an experienced team of administrators headed by a plan representative who is responsible for support of the client and their retirement plan(s);
- We have set service standards that lead to easy, prompt access to assigned team members and plan representatives;
- Team members will not only know you, but they will also know the specifics of your retirement plan(s) and your goals;
- We encourage continuous communication through the establishment of face-to-face relationships with our clients including periodic on-site visits and industry workshops.
- We are proactive from the day we are hired. We plan ahead for all tasks and keep you informed of all promises and deliverables; and
- Our in-house participant call center makes it easy for your employees to get questions answered quickly by our experienced call center representatives who have all of your employee and plan information at their fingertips. If needed, calls are escalated to a consultant for immediate attention.
While technology plays a key role in our recordkeeping and administration services, we believe our people are the major element that sets us apart from other firms. Our administrative teams and individual consultants are highly trained and proficient in the laws and regulations regarding defined contribution plans and stay on the cutting edge of our industry through:
- Attainment of professional designations;
- Participation in a number of retirement plan professional organizations;
- Annual continuing education requirements; and
- Accessibility to up-to-date online research software.
Additionally, to ensure our clients are completely informed on the status of their plan, each year we provide an annual report with specific information customized to their plan. This includes:
- Plan statistics related to fees, usage and plan operations; and
- Recommendations for improvements to the plan.
Our defined contribution team provides the following services:
Full Service Daily Accounting
- Recordkeeping and Administration;
- Quarterly Allocation reports;
- Quarterly participant statements;
- All compliance testing; and
- Form 5500 filing.
- Participant Services Include:
- 24/7 internet account access for transactions and inquiries;
- Call Center Services from 8am - 6pm EST (includes transaction requests)
- Account statements on demand;
- Flexibility to move your money any time;
- Built-in education link with Morningstar;
- Paperless loans and distributions;
- Retirement Planning tools;
- And much more!
- Plan Sponsor Services Include:
- 24/7 plan sponsor website;
- On-demand reporting via the website;
- “Paper less” Loans;
The plan sponsor may approve loans online if desired. - Flexible Contribution and Loan Repayment Processing;
We can process your payrolls in any format or medium. - Compliance tests completed accurately and timely;
- Form 5500 completed accurately and timely in signature-ready form; and
- Participant communication strategy and implementation.
Swerdlin Services with a Third-Party Recordkeeping Platform (Wrap Services)
Swerdlin & Company aligns itself with many insurance companies and mutual fund companies. The investment advisory services include selection of funds, daily recordkeeping, participant statements, internet access and call center.
In this service level, Swerdlin prepares the Plan Document and Summary Plan Description. They maintain the document and make updates as needed.
On an annual basis, the following services are provided:
- Annual Form 5500 reporting and required disclosures;
- Projected and actual employer contribution calculations (if applicable);
- Quarterly, Semi Annual or Annual Allocation Report;
- Quarterly, Semi Annual or Annual Participant Statements;
- All compliance testing; and
- Form 5500 filing and attachments and Summary Annual Report.
Full Service Traditional Administration
Recordkeeping and Administration:
- Quarterly, Semi Annual or Annual Allocation Report;
- Quarterly, Semi Annual or Annual Participant Statements;
- All compliance testing; and
- Form 5500 filing with attachments and Summary Annual Report.
In addition to our recordkeeping services, we put great focus on keeping your plan in regulatory compliance in order to protect its tax qualified status.
- Our standard compliance services include:
- Plan Document and SPD creation and support
- Annual Form 5500 Reporting and required disclosures
- Forms 1099-R, 1096 and 945
- Projected and actual employer contribution calculations (if applicable)
- Compliance Testing
- 401(k) Nondiscrimination [ADP/ACP]
- General Nondiscrimination [401(a)(4)]
- Compensation Nondiscrimination [414(s)]
- Minimum Coverage [410(b)]
- Top Heavy Analysis [416]
- Monitoring of Limits
- Salary deferrals [402(g)]
- Annual additions [415]
- Compensation [401(a)(17)]
- Deductible Contributions [404(a)(7)]
All compliance reports/test results are delivered in a format that is easy to read and understand. You will always know where you stand and will not have to wait months for results or call in early March to see if you have any compliance issues!