Omega Services

Installation of Amended Services

  • Provide prototype of specimen Plan and Trust Agreement, or individually designed document, if requested.
  • Prepare Application for Determination
  • Prepare Notification of interested parties
  • Prepare Employee Announcement that a Retirement Plan has been adopted

Administration and Actuarial Services

  • Establish and maintain Plan and Participant records.
  • Benefit calculations upon Participant termination, disability, and retirement.
  • Review insurance application for compliance with Plan specifications.
  • Provide PS-58 Value of Insurance Statement.
  • Notify Plan Administrator of upcoming Plan Anniversary.
  • Provide annual renewable benefit calculations and Actuarial Valuations.
  • Compute deferral ratio for 401(k) Plans.
  • Allocate Employee 401(k) contribution to investment vehicles

Employee Communication Services

  • Prepare Summary Plan Description.
  • Prepare personalized Participant benefit statements annually.
  • Prepare Summary of Plan Annual Report for Participant and Beneficiaries

Annual Government Reporting Services

Prepare Annual Return/Report of Employee Benefit Plan, Form 5500, and all related Schedules:

  • Schedule A – Insurance Report
  • Schedule B – Actuarial Information (Defined Benefit Plans)
  • Schedule I – Small Plan Financial Information
  • Schedule R – Qualified Pension Plan Information
  • Form PBGC-1 – Defined Benefit Plan
  • Form 945 – Reconciliation of Withholding Tax (when applicable)
  • Secure Actuarial Certification for Defined Benefit Plans