Most prudent plan sponsors hire a plan consultant/advisor to assist them in adhering to rigorous standards while offering 401(k) plans to their employees.

Highly impressed with their level of expertise and outstanding customer service.

Highly impressed with their level of expertise and outstanding customer service.

I highly recommend TPS Group and their quality third-party administration for our 403(b) plan. During our long relationship with TPS Group, we have never failed to be impressed with their level of expertise and outstanding customer service. They keep their promises and it’s easy to work with them. Having our own rep Lauren McNabb is a plus!

- Don Senecal

"Extremely Helpful to Our Business"

"Extremely Helpful to Our Business"

Malinda deserves special recognition. She is prompt, courteous, and professional. We find her to be extremely helpful to our business.

- Angela Simino

"Wonderful To Work With"

"Wonderful To Work With"

My go to professional is Des. A wonderful person to work with. We can count on him to handle all of our needs.

- Andrea Blakeslee

"Answers All Of My Questions In A Clear Manner"

"Answers All Of My Questions In A Clear Manner"

Our case administrator, Susan, has been absolutely wonderful and is a joy to work with. She is very knowledgeable, patient, answers all of my questions in a clear manner, and is professional.

- Kathy Townsend

They are a pleasure to work with and we highly recommend their services.

They are a pleasure to work with and we highly recommend their services.

For many years we’ve relied on TPS Group’s extensive knowledge and industry expertise to keep us in compliance with state and federal regulations as well as changes in the law. Their attention to detail is just what we need to keep our business operations running smoothly. They are a pleasure to work with and we highly recommend their services.

- Dan Neal

TPS filled in the gaps within our small HR department

Working with Kim and her talented team helped us fill in the gaps within our small HR department. I strongly recommend TPS for HR tasks that don’t warrant hiring a full-time team. Thanks again Kim!

- Jake F

Knowledge and Expertise

Excellent customer service can be hard to find, but not with TPS Group! I know when I do business with Phil Coco, I can expect a quick response. I rely on his knowledge and expertise, and highly recommend TPS Group for their pension services.

- Mark Catullo

401k Plan Consultant Services

Retirement Administration Services

Retirement Administration Services

At TPS Group, we offer all of the services you need to simplify the management of your company retirement plan and to maintain compliance.

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Pension Consultation Services

Pension Consultation Services

TPS Group is a Third Party Retirement Administrator (TPA) committed to your company's success.

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401(k) Plans

401(k) Plans

Here at The Pension Service, we understand Retirement Plans and the importance that they play within your company; for both you and your employees. TPS Group works with businesses like yours to help achieve long-term success. The Pension Service will help you design a 401(k) Program that your employees can easily understand and feel confident participating in.

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457 Plans

457 Plans

A non-qualified, deferred compensation plan established by state and local governments and tax-exempt employers under IRC Section 501. They can be either eligible plans under IRC 457(b) or ineligible plans under IRC 457(f).

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Profit Sharing Plans

Profit Sharing Plans

TPS Group offers the expertise needed to develop and implement a Profit Sharing Plan that is tailor fit to your business. As with 401(k) plans, you can make a profit-sharing plan as simple or as complex as you want. A profit-sharing plan is available for a business of any size, and it can be established even if a company already has other retirement plans.

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Creative Plan Design

Creative Plan Design

At The Pension Service, we are committed to provide the highest quality actuarial, consulting and retirement plan administration services by listening carefully and being responsive with creative solutions that meet the unique needs and objectives of our clients.

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More Retirement Plan Types

More Retirement Plan Types

We offer a variety of retirement plans for businesses of all sizes, including 401(k) Plans, Profit Sharing Plans, Creative Plan Design, Public Works Plans, & MEP Retirement Plans, and all of the options below.

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401k Plan Consultant Team Members

401k Plan Consultant Resources

Internal Revenue Service (IRS)

Internal Revenue Service (IRS)

  • Federal tax laws, rules and forms
  • Businesses and individuals
  • Independent contractor rules for IRS
Society for Human Resource Management (SHRM)

Society for Human Resource Management (SHRM)

Human resource data – laws, policies, forms and tools

401k and Retirement Plan Limits for the Tax Year 2019

401k and Retirement Plan Limits for the Tax Year 2019

The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. The IRS issued technical guidance detailing these items in Notice 2018-83.

401k Plan Consultant Frequently Asked Questions

Q: What is a 401(k) Plan?

A: 

A 401(k) is a feature of a qualified profit sharing plan that allows employees to contribute a portion of their wages to individual accounts. A Traditional 401k Plan is sponsored by an employer and it lets workers save and invest a portion of their paycheck before taxes are taken out up to IRS prescribed limits. These taxes are not paid until the money is withdrawn from the account at retirement or other distributable events. 

Q: What is a Roth 401(k) Plan?

A: 

A Roth 401(k) is an increasingly popular option within a 401(k) plan that represents a combination of features of the Roth IRA and a traditional 401(k) plan. In a traditional 401(k), you contribute income pre-tax, and then pay taxes on the funds when you withdraw them during retirement.

By offering a Roth 401(k) option, employees can elect to pay the taxes upfront allowing them to make withdrawals tax-free during their retirement.

Under the Roth 401(k), employees may contribute funds on a post-tax elective deferral basis, in addition to, or instead of, pre-tax elective deferrals under their traditional 401(k) plans.  

401k Plan Consultant Articles

IRS Announces 2020 Pension Plan Limitations

IRS Announces 2020 Pension Plan Limitations

401(k) contribution limit increases to $19,500 for 2020; catch-up limit rises to $6,500 The Internal Revenue Service announced that employees in 401(k) ...

What Keeps Plan Sponsors Up at Night?

What Keeps Plan Sponsors Up at Night?

Plan sponsors have a lot on their plates. At the 2019 National Association of Plan Advisors (NAPA) Summit, a panel of plan sponsors expressed their chief ...

Did You Know You Are a Fiduciary?

Did You Know You Are a Fiduciary?

When it comes to the topic of fiduciary responsibilities for qualified retirement plans, there are three things we know really well: Plan sponsors like ...

401(k) Plans: A Win-Win for Employers and Employees

401(k) Plans: A Win-Win for Employers and Employees

If you’re an employer and don’t offer a 401(k) plan, you could be missing out on key benefits for you and your business. First, offering a 401(k) helps ...

The Loan They Never Take May Make All the Difference

The Loan They Never Take May Make All the Difference

IRS rules provide for participant loans and hardship withdrawals from 401(k) and other plans. They’re not required, but rather left to the discretion of ...

It’s a Juggling Act: How to Save for Retirement and Still Pay Your Bills

It’s a Juggling Act: How to Save for Retirement and Still Pay Your Bills

When you’re in your twenties and thirties, retirement seems like a long way off. Steve and Kim, both Millennials with a new house, two cars, and a baby ...

When to Set Sail with Safe Harbor

When to Set Sail with Safe Harbor

When to Set Sail with Safe Harbor You already know that a 401(k) is a very popular retirement plan and, like other plan designs, it allows your employees ...

Financial Wellness Is Essential to Saving for Retirement

Financial Wellness Is Essential to Saving for Retirement

Financial Wellness – It’s Essential to Saving for Retirement Introducing a workplace retirement plan can be a compelling way for emplyees to take control ...

The Cost of Aging: Are You Ready?

The Cost of Aging: Are You Ready?

Forty-five years old, married with two teens, and employed full-time, Shannon struggled to care for her aging parents as their health deteriorated. Her ...

Cash Balance Plans Allow Six Figure Annual Contributions

Cash Balance Plans Allow Six Figure Annual Contributions

Cash Balance Plans Allow Six Figure Contributions Most people can contribute to their 401(k) without worrying about exceeding the annual contribution ...

To Roth or Not to Roth

To Roth or Not to Roth

To Roth or Not to Roth A compelling feature of a 401(k) plan has always been the opportunity to contribute money from your current income on a pre-tax ...

Steps To Take To Protect Your Investments

Steps To Take To Protect Your Investments

Retirement accounts have become an attractive target for cyber-thieves, and fraudulent activity is on the rise nationally. Here are important steps to ...

Gen Z in the Workplace: Are Companies Ready?

Gen Z in the Workplace: Are Companies Ready?

Young adults of Generation Z, defined as the cohort of people born from 1997 on, are entering the workforce and will change the rule book just as the Millennials ...

The Vanishing Employee: “Ghosting” at Work

The Vanishing Employee: “Ghosting” at Work

It’s a new, startling labor trend in one of the strongest job markets in 19 years: “ghosting.” Once a term used primarily in the dating world to describe ...

Should You Borrow from Your 401(k) Account?

Should You Borrow from Your 401(k) Account?

Eric’s landlord was raising the rent again, and this time Eric decided he was ready to move out and buy his own house. After meeting with a loan officer ...

Are You Taking Advantage of Your Employer’s Matching Contribution?

Are You Taking Advantage of Your Employer’s Matching Contribution?

Many employees don’t contribute enough to their 401(k) to take full advantage of their employer’s matching contribution. Are you one of them? Maybe you ...

"Hot Topics in HR" Complimentary Seminar

"Hot Topics in HR" Complimentary Seminar

Don't Miss This Opportunity!  "Hot Topics in HR" Complimentary Seminar November 13, 2018 You are invited to a complimentary seminar and brunch buffet ...

Managing Re-Hires

Managing Re-Hires

Publication: Solutions in a Flash Volume/Issue: October 2018 Managing Re-Hires Aaron R. Moody As we approach Halloween, let’s take a look at a real ...

Salary Deferral Deposits: Avoiding Fiduciary Violations

Salary Deferral Deposits: Avoiding Fiduciary Violations

For the 401(k) fiduciary, the importance of timely salary deferral deposits cannot be overstated. An employer that fails to remit employee contributions ...

Maximizing Social Security Income

Maximizing Social Security Income

Bill and Sue, a married couple seeking advice from their financial advisor, felt that they were in a quandary. At age 62, Bill wanted to retire within ...

How Cash Balance Plans are Redefining the Retirement Savings Industry

How Cash Balance Plans are Redefining the Retirement Savings Industry

Although the traditional annuity defined pension plan has mostly gone the way of the rotary phone, cash balance plans are growing in popularity, especially ...

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Office Locations

North Haven, CT

Tel: (203) 234-2229
Fax: (203) 234-8369

Acton, MA

Tel: (978) 369-2318
Fax: (978) 379-8481

Westbrook, ME

Tel: (207) 854-1304
Fax: (207) 854-1305

Buffalo, NY

Tel: (716) 839-9405
Fax: (716) 839-9713

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