Switching Retirement Plans

Whether it’s simply time for your regular RFP or you’re concerned about the fees or service coming from your current provider, our specialists do more than bid your plan — we show you how it can more effective at achieving your goals.

Our transition team is second to none. We put the best in the business to work for this department to ensure your plan is ready for our full-service approach.

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Effective Communication

No matter what circumstance you’re in, moving your plan can be uncomfortable and time-consuming. We can help you at every step in this process including notifications, onboarding, and the transfer of assets. We’re there when you need us and step to the side when you don’t.

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Seamless Transition

We know this business better than most, so we are capable of anticipating our clients’ needs during the takeover process. We keep you in the loop while handling most of the specifics on your behalf. We do this every day — let us handle the details so you can get back to work.

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Relief at Last

Our clients have come to expect better results with less administrative effort. Ever feel like you’re signing your life away when you confirm the proper classification of your employees? We know you well enough and ask the right questions so we can stand by our work without your signature.

We do more to ensure your plan gets the attention it needs.

There are a host of compliance-related responsibilities that must be observed in order for the fiduciaries of the plan to rest assured that the plan won’t be sanctioned for penalties by the IRS:

  • Determination of eligible compensation
  • Classification of plan participants as HCE and/or key or former key, or NHCE
  • Determination of participant eligibility
  • Timing of deferral contributions
  • Proper allocation of employer contributions
  • Confirmed receipt of contributions to the plan and proper annual trust reconciliation
  • Controlled or affiliated service group determination
  • Timely correction of failed tests or deficiencies and proper reporting
  • Contribution deadlines
  • Form 5500 deadlines
  • (I could go on and on!)

Learn more from our retirement plan specialists.

Read the Guide to Choosing the Right Plan

There’s no such thing as a “retirement plan emergency”. Got huge compliance problems? We’ve seen it before.

This may come as a surprise, but the IRS is not actively trying to shut down retirement plans they believe are out of compliance. Sure, they’d like some money from bad actors to cover the costs to ensure a level playing field, but they’re not looking for blood. In the case of an IRS audit, agents are relieved to see BRI at the helm. We have the credentials necessary to work directly with them which shortens the time it takes to complete their work and move on to the next one. Typically, though, festering compliance issues (or even excessive top heavy minimums!) can be corrected for pennies on the dollar if we are engaged to assist your plan — even after the IRS has warned of an imminent audit.