Annual Reviews

Annual Retirement Plan Check-Ups: Ensuring Continuity and Value

A retirement plan is only as valuable as its continuity. While the market fluctuates, employees come and go, regulations change, and targets adjust, management and participants should expect their retirement plan to remain a stable asset amidst shifting conditions.

This is why yearly check-ups are essential—to catch potential issues early, avoid costly errors, and ensure the plan meets performance expectations.

Our Annual Review Services at PSI

At PSI, our administration department is dedicated to maintaining the strength and value of your plan year after year, regardless of external changes. Our annual review services include:

  • Ensuring Actual Deferral and Actual Contribution Percentages (ADP & ACP) remain on target
  • Screening for compliance with non-discrimination laws
  • Reviewing annual and estimated contributions
  • Issuing and filing required forms (such as 5500 and 480.70)
  • Overseeing plan termination and liquidation when necessary

Common Errors and Oversights in Retirement Plans

Retirement plans require significant reporting, from legal and regulatory filings to accounting-related documentation. PSI’s team of attorneys, accountants, and actuaries is well-versed in these areas, allowing us to quickly spot potential issues. Here are some of the most common errors flagged by the IRS:

  • Failing to cover eligible employees
  • Not providing employees with adequate or required information
  • Delaying deposits of employee deferrals or employer contributions
  • Exceeding limits on deferrals and contributions
  • Not following the plan’s original terms

The Importance of an Annual Check-Up

Even well-run retirement plans may encounter issues over time. Regular annual reviews offer the chance to step back, assess the big picture, and ensure continued compliance and optimal performance. At PSI, we use advanced analytical tools—our own “stethoscope, blood-pressure monitor, and thermometer”—to keep your plan in peak condition.

PSI makes it easy to review and improve your retirement plan, year after year. Is it time for your plan’s annual check-up?