As a full service Actuarial and Consulting firm, Gorrelick, Tievy & Associates, Inc. provides comprehensive services to sponsors of qualified Retirement Plans. We offer both recurring and nonrecurring services for a variety of plan types.

Here is a brief listing of some of the services we offer by plan type:

401(K) Profit Sharing Plans

• Completion of an annual valuation to determine the required and/or maximum permissible contributions.
• Completion of one or more valuations per year allocating contributions, forfeitures, investment earnings, and plan expenses among the eligible employees.
• Preparation of a valuation report for each valuation presenting the results of the valuation, a statement of assets and liabilities, a statement of receipts and disbursements, and pertinent information regarding the participants in the plan and their accounts.
• Furnishing each participant with a Statement of Account for each valuation.
• Completion of the average deferral percentage and average contribution percentage tests specified in Internal Revenue Code Sections 401(k) and 401(m).
• Preparation of required annual reports to the Internal Revenue Service and Department of Labor.
• Preparation of a Summary Annual Report for distribution to the participants.
• Calculation of amounts payable to participants who terminate employment, become disabled, die or retire, and preparation of forms so that payments may commence.
• Preparation of papers for loans to participants and hardship distributions.
• Maintenance of historical records for each participant including terminated and retired participants.
• General supervision of the operation of the plan and availability at all times to answer questions regarding the plan.

Defined Contribution Plans Other Than 401(K) Plans

• Completion of an annual valuation to determine the required and/or maximum permissible contributions.
• Allocation of contributions, forfeitures, investment earnings, and plan expenses among eligible employees.
• Preparation of a valuation report presenting the results of each valuation, a statement of assets and liabilities, a statement of receipts and disbursements, and pertinent information regarding the participants in the plan and their accounts.
• Furnishing each participant with a Statement of Account for each valuation.
• Preparation of required annual reports to the Internal Revenue Service and Department of Labor.
• Preparation of a Summary Annual Report for distribution to the participants.
• Calculation of amounts payable to participants who terminate employment, become disabled, die or retire, and preparation of forms so that payments may commence.
• Preparation of papers for loans to participants.
• Maintenance of historical records for each participant including terminated and retired participants.
• General supervision of the operation of the plan and availability at all times to answer questions regarding the plan.

Defined Benefit Plans

• Completion of an annual actuarial valuation to determine the maximum deductible, minimum required, and recommended contributions.
• Preparation of a valuation report presenting the results of the valuation, trust fund financial statements, and pertinent information regarding the participants in the plan.
• Preparation of all required annual reports to the Internal Revenue Service, Department of Labor, and Pension Benefit Guaranty Corporation.
• Furnishing each participant with a Statement of Benefits and a Summary Annual Report.
• Completion of calculations required for the preparation of audited financial statements including those required by Financial Accounting Standards Board Rule Number 87.
• Calculations to determine if the plan meets the non-discrimination requirements of Section 401(a)(4) of the Internal Revenue Code.
• Calculation of benefits payable to participants who terminate employment, become disabled, die or retire, and preparation of forms so that payments may commence.
• Preparation of papers for loans to participants.
• Maintenance of historical records for each participant including terminated and retired participants.
• General supervision of the operation of the plan and availability at all times to answer questions regarding the plan.

Non-Recurring Services Offered To Clients

• Assistance with plan design or plan redesign including discussions and recommendations with respect to eligibility requirements, level of contribution, vesting schedule, and alternative plans.
• Preparation for review by company counsel of documents establishing or modifying the plan, e.g., plan and trust agreements and Board of Directors' meeting materials.
• Preparation of ancillary papers including Summary Plan Description or Summary of Material Modifications, participant election forms and Internal Revenue Service submission.
• Attendance at employee meetings to describe the plan and answer questions.
• Assistance with establishment of administrative procedures.
• Preparation of papers in the event the plan is terminated.
• Miscellaneous consulting as required