3(16) Fiduciary Services

3(16) Fiduciary Services from Aldrich Retirement Solutions

Maintaining a retirement plan requires complying with and regularly completing many legal responsibilities and administrative tasks that traditionally rest on the shoulders of Plan Sponsors. Aldrich’s 3(16) Fiduciary Services can lessen your administrative burden and risk of personal fiduciary liability by assuming many of these responsibilities and tasks for you. These services include:

Plan Transactions

Assist participants and Plan Sponsor with plan provisions and options related to loans and distributions
Determine qualified status and process Qualified Domestic Relations Orders (QDRO)
Track delinquent participant loans and initiate taxation for deemed distribution and loan offsets
Process and approve participant distribution requests (termination, in-service and hardship)
Prepare, process and approve required minimum distributions
Process and approve participant loan requests

Plan Operation Oversight

Summarize plan document provisions and plan operation policies
Obtain ERISA Fidelity Bond on behalf of the plan
Review 401(k) deposit and loan repayment timeliness and advise on late deposits and recommend steps for corrective action
Prepare, review, approve and ensure timely delivery of required notices and disclosures
Review, sign and file required tax and reporting forms (e.g. Form 5500, Form 5558, Form 8955-SSA, and Form 5330)

Meet the Team

Connect with David

President

David Strom, QKA, QKC, QPA

Aldrich Retirement Solutions

David leads Aldrich Retirement Solutions to provide high quality, cost-effective services for our clients. He is a creative retirement plan expert who designs, consults and administers qualified retirement plans for profitable businesses and non-profit organizations of all sizes. He specializes in cash balance plans and pension plans to provide for enhanced tax-deferred retirement contributions for partners…

David's EXPERTISE

Retirement plan design
Cash balance pension plans
IRS and DOL corrections

Connect with David

Looking for Support?

Are you a benefits recipient or looking for help with your client account? Send us an email at info@aldrichadvisors.com

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Retirement Plan Fiduciary Services