Retirement Plan Services

The MGKS Difference

MGKS has been a leader in actuarial consulting and retirement plan administration services for over 30 years. Our firm provides a high degree of technical knowledge and will find the best possible retirement package for your business. Rest assured we will equip you with the most comprehensive, accurate, and understandable retirement program money can buy. Please reach out to us today and schedule a free consultation with one of our partners.

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Plan Design and Implementation Services

If you are ready to sponsor a new plan, or you are currently sponsoring a plan that has become a problem, we are here to help. MGKS provides an efficient process for our clients when a review of your current plan design is necessary. We apply those same principles to active prospects looking to start a new retirement program or improve an existing plan. Rest assured we will equip your business with the most comprehensive and customized retirement package available.

 

  • We review your employee census and demographics to identify your options.
  • We build out several examples of different types of retirement plans for you to choose from.
  • We educate you on the nuances between various plan designs and the employer’s commitment to funding on behalf of the employees (if applicable).
  • For plans already in existence, we have a solution. We will review your existing plan document, review prior
    testing results and current census, then make recommendations on what to change to achieve a better outcome.
  • We will amend or draft your legal documents to tweak your existing plan design or establish a new plan.
  • We will provide the necessary communications required by law to be distributed to your participants.

Compliance Testing and Government Reporting

Ensuring your plan is effective and efficient is half the battle. Keeping your plans in compliance with federal rules and regulations is the other. Our team of experts have decades of experience with federal reporting and compliance testing and we ensure your plans are operating withing the boundaries established by the IRS and Department of Labor.

 

  • IRS Form Preparation including: Form 5500, Schedule SB, 945, 1099-R etc.
  • Contribution deductible limits (§404)
  • Annual additions testing (§415)
  • Top Heavy Testing (§416)
  • Non Discrimination Testing (§401(a)(4))

Record Keeping and Administration

We pride ourselves in our ability to guide you through each step we take in performing the annual administration for your plan(s). In the event that you and your advisor choose to use a pooled account or self-directed brokerage accounts, MGKS can provide record keeping services to track employee balances and vesting among the different sources of funding inside those accounts. We also provide participant statements as frequently as required so the employees can visualize how valuable the plan is.

 

  • Contribution allocations
  • Trust reconciliations
  • Customized Participant Statements
  • Loan Processing
  • Distribution Processing
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Actuarial Services and Administration

At MGKS we are here to provide you value and expertise with our proven actuarial consulting and administrative services. We manage your pension plans and our actuaries provide the required actuarial certifications and recommendations your business needs.

 

  • We calculate eligibility and annual funding requirements.
  • We consult with your financial advisor and CPA to discuss what level of funding best suits your need for tax deductions.
  • We determine actuarial present values and vesting for lump sum distributions when a distributable event occurs.
  • We prepare annual reporting and actuarial certifications where necessary.
  • We work directly with the Pension Benefit Guarantee Corporation to calculate insurance premiums due to these plans (if applicable).