SERVICES

PLAN DESIGN

IBI will work with you and your other advisors to develop the specifics of a plan to meet your objectives.  The first step in this process is for us to meet with you, so that we understand your needs and concerns.  Most employers sponsor plans as an across-the-board benefit for their employees, as a means to tax-defer compensation for principals, or some combination thereof.  We apply a common-sense approach to plan design - frequently, we can provide design ideas that achieve the stated goals in a simpler and more cost-effective manner than originally envisioned by the prospective client.

In many cases, it is desirable to consider many different plan designs.  IBI can provide feasibility studies, so that you can actually see how various types of plans would work in your situation.  In the case of 401(k) plans, we find it helpful to examine the level of employee interest in such a plan BEFORE going through the time and expense of actually installing such a plan.  IBI can assist you in this process.

PLAN INSTALLATION

After the plan design process, IBI can assist with the installation of the plan.  The installation process can include:  preparation of a plan document and summary plan description, (if necessary) submitting the plan documents and all required supporting materials to the IRS for an approval letter, conducting group meetings to explain the plan to employees and assisting in establishing plan operating procedures.

PLAN OPERATION

Most plans require services on an annual or periodic basis to operate properly and ensure compliance with applicable laws and regulations.  Some of these services may include :

1.  Gathering employee census data and investment information

2.  Applying the eligibility requirements of the plan to the employee census information to determine which employees meet the eligibility requirements to participate in the Plan

3.  Calculating benefit and contribution amounts and requirements

4.  Performing any required testing to show that the Plan is not discriminatory, as required under applicable laws and regulations and making recommendations to you as needed on ways to comply with these rules

5.  Preparing benefit and/or account statements for the participants and the Summary Annual Report

6.  Preparing the Annual Return/Reports: Form 5500 or 5500-EZ, and attachments and the Form PBGC-1, as appropriate

7.  Determining the amount to be distributed to terminated or retired participants, and preparing the necessary forms for their signature

8.  Preparing annual (and, if applicable, quarterly) plan valuations

9.  Processing hardship withdrawals and participant loans, as applicable

PLAN PROBLEMS

Sometimes bad things happen to good plans.  Plans can have operational defects (such as incorrect contributions, mistaken distributions, etc.), compliance defects (such as not meeting non-discrimination requirements or failing to file required plan tax forms), document defects (such as failure to keep the plan document updated as required for tax law changes) and other problems.  IBI has expertise and can assist in the correction of these problems, so that a problem plan can regain its health.

PLAN SPECIAL PROJECTS

Mergers and acquisitions can involve some thorny issues in the benefits area.  IBI has expertise and can assist in these matters, which often involve plan mergers and spinoffs.

PLAN TAKEOVER

In many cases, a prospective client already maintains a plan and would like to have IBI take over the servicing of the plan.  IBI is very experienced in takeover operations and can assist in making the transition as smoothly as possible.  Frequently, plan re-design and review of past operational compliance become part of this process.

PLAN TERMINATION

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IRS Circular 230 Notice: Advice rendered in this communication, including attachments, on U.S. tax issues (i) is not intended or written to be used, and it cannot be used, for the purpose of avoiding penalties that may be imposed by the IRS on taxpayers, and (ii) may not be used or referred to in promoting, marketing or recommending a partnership or other entity, investment plan or arrangement. This notice is intended to comply with Section 10.35 of IRS Circular 230.