Does ERISA Consultants prepare the plan's Form 5500?
Yes – we prepare your plan’s Form 5500 each year, and we send you a signature-ready filing authorization that allows us to file on your behalf.
Can my employees enroll online?
Yes – our online enrollment experience makes it quick and easy for your employees to sign up for the plan. However, we also support companies that prefer to use paper enrollment forms.
How often will employees receive statements?
Employees will receive account statements quarterly, but they can check their online account anytime to see their current balance.
Who has custody of the plan's assets?
ERISA Consultants and its affiliated companies, do not serve as a custodian of plan assets. Instead, you would select an independent financial institution to serve as your plan’s custodian. This provides independent assurance and safekeeping of your plan’s assets.
The vast majority of our clients select Charles Schwab Trust Bank as their plan’s custodian, but we can work with other custodians as well.
Will ERISA Consultants help with my plan audit?
Yes – we assist many clients with their annual plan audit by preparing the documents and reports requested by your auditor. We also work directly with your auditor to answer questions and provide general guidance.
Can you work with my financial advisor?
For the best experience, we believe that our firm should serve as your plan’s financial advisor. However, you can allow individual employees to work with their personal financial advisors.
Are brokerage windows available on your platform?
Yes – we offer a brokerage window using a Charles Schwab’s Personal Choice Retirement Account (PCRA). This allows plan participants to invest in securities that are not part of your plan’s core investment menu.
Can ERISA Consultants be integrated with my payroll provider?
We have several payroll integration relationships with payroll providers across the US. Check out our integrations page for a list of the ones we’re already working with.