Plan administration combines various activities. It involves accounting, reporting to appropriate agencies, and maintaining the plan in accordance with government rules and regulations. KB Pension Services has significant expertise in each of these areas.

The accounting function for benefit plans involves managing information from several sources. This may include cash contributions from employees, contributions from employers, investment earnings, and payouts for retirement. In addition, there may be insurance premium payments, plan expense payments, loan disbursements and loan payments.

Many plans are regulated by the Internal Revenue Code and the Department of Labor. We review client plans regularly to be certain that they comply with all government regulations. This assures the special tax advantages of the plan.

A positive communication of the advantages of the plan to the employees increases their understanding and appreciation of the benefit and of the company. We will assist in developing materials that explain to the employees how the plan works and how it will help each individual. This element is vital to the success of your plan.