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"
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"
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"
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.
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
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.READ MORE »
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.READ MORE »
401k Plan Consultant Team Members
James P. Cantey
President and Owner
Partner and Vice-President
Vice-President of Operations
Vice-President of Sales and Marketing
Sales Consultant/Client Relationship Representative, North Haven, CT location
Sales Consultant, Westbrook, Maine location
Benefit Consultant, Buffalo, NY Location
Vice President - Defined Contribution Department
Vice President, Pension Plan Design and Consulting
Defined Contribution Manager, Westbrook, ME location
Defined Contribution Manager, Buffalo NY location
Sales Consultant, Buffalo, NY Location
401k Plan Consultant Resources
Internal Revenue Service (IRS)
- Federal tax laws, rules and forms
- Businesses and individuals
- Independent contractor rules for IRS
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 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 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
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?
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
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
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
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 ...
Auto Enrollment and Auto-Escalation
When we think about the important goals we've reached in our lives, like graduating from college or achieving a career milestone, the journey likely took ...
Dangers of not using accurate data for compensation benchmarking
When it comes to compensation, “benchmarking” has become one of the hottest terms around. Accurate compensation benchmarking helps organizations maintain ...
Plan Fiduciary Services and Why They Matter
3(16) Fiduciary Service and Why You Should Care People who exercise control and authority over the management of a retirement plan's assets are fiduciaries. ...
Recordkeeper/Administrator Renews Certification To Industry Best Practices
PITTSBURGH, 05/14/2019– CEFEX, Centre for Fiduciary Excellence, LLC, has renewed the certification of TPS Group, headquartered in North Haven, CT as adhering ...
Should You Refinance Your Student Loans?
If you’re struggling to pay down your student loans, you’re not alone. About 44.7 million Americans carry student loan debt, with an average monthly payment ...
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 ...
Social Media in the Workplace: Productivity Killer or Boost?
Is checking your Facebook feed, tweeting to friends or posting a vacation photo on Instagram while you’re at work a violation of your employer’s social ...
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 ...
Defined Benefit Plans are Alive and Well
Defined Benefit Plans are Alive and Well For the most part, the news about Defined Benefit plans lately has not been particularly good. Whether a big ...
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 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 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
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?
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
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 ...
The Sobering Facts about Health Care Costs in Retirement
Unless you are one of the lucky few with a lifetime medical plan paid for by your employer, health care costs are one of the largest expenses in retirement ...
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?
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
Don't Miss This Opportunity! "Hot Topics in HR" Complimentary Seminar November 13, 2018 You are invited to a complimentary seminar and brunch buffet ...
TPS Group Now Offers 3(16) Plan Administration
With TPS 3(16) Service, LLC as the 3(16) fiduciary, employers can rest easy knowing that all plan decisions are made in the best interest of the participants. Does ...
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
For the 401(k) fiduciary, the importance of timely salary deferral deposits cannot be overstated. An employer that fails to remit employee contributions ...
Cybersecurity Threats and Retirement Plans
Are you at risk of a cyber-attack? The answer to that question is yes. Millions of credit card numbers and other forms of personal information are stolen ...
Davis-Bacon Prevailing Wage Plans: Key Points for Employers
The Davis-Bacon Act is a federal prevailing wage law governed by the Department of Labor that applies to contractors and subcontractors who perform work ...
Boost Retirement Savings with a HSA
Health Savings Accounts (HSAs) offer significant tax advantages and can be an effective way to cover health care costs in retirement. By law, HSAs are ...
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
Although the traditional annuity defined pension plan has mostly gone the way of the rotary phone, cash balance plans are growing in popularity, especially ...
Are Millennials Saving for Retirement?
Samantha, age 27, is a special education teacher in her third year of teaching. She and her fiancé have just bought their first home and are planning their ...
CEFEX Certification: The 'Gold Standard' in TPA Validation
Advisors and plan sponsors benchmark plan fees, nvestments and other services that can be provided by a record keeping platform, but rarely have I encountered ...
Sexual Harassment Training: Is Your Company in Compliance?
The recent spate of sexual harassment accusations in Hollywood and in companies all over the country should serve as a reminder to employers about their ...
4 Great Reasons Why Even Small Businesses Need HR Services
For most businesses, their workforce is not only their biggest asset but their largest expense. No matter how small or large the business, strategic management ...
Key Facts Employers Need to Know Employers who offer 401(k) Profit Sharing Plans must meet standards of conduct and practice under ERISA, but misconceptions ...