Services Offered by TPS Group

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.

Pension Consultation Services

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

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.

403(b) Plans

A 403(b) plan, also known as a tax-sheltered annuity (TSA) plan or tax deferred annuity (TDA), is a retirement plan for employees of certain tax-exempt organizations, employees of public schools, and certain ministers. The plan can take the form of an annuity contract, a retirement account set up for church employees, or a custodial account invested in mutual funds.

457(b) 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). The Pension Service handles only eligible 457(b) plans.

Defined Benefit Plans

A company retirement plan in which a retired employee receives a specific amount based on salary history and years of service and in which the employer bears the investment risk.

Cash Balance Plans

A cash balance plan is a pension plan under which an employer credits a participant's account with a set percentage of his or her yearly compensation plus interest credits.

MEP Retirement Plans

Managing a retirement plan for your company shouldn’t be a burden. When you enroll in The Multiple Employer Plan from The Pension Service you benefit from the support of a company with 50 years of experience in administering retirement plans for businesses just like yours.

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.

Public Works Plans

A simple, low cost, innovative approach to Prevailing Wage Law Compliance. Our program offers an easy to understand solution that satisfies DOL requirements, while providing an open shop contractor the opportunity to not only lower their expenses, but reduce their liability.

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.

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.

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.

Payroll/Tax

Payright Payroll Affiliates, a TPS Group Company, offers customized payroll solutions to meet your business’s needs.

Tax Pay & File

Payright Payroll Affiliates offers a unique payroll experience. Let Payright customize a payroll experience based on your sophistication and needs not just by how many employees you have. Call 1-855-828-2229 to help us customize a solution for you!

Benefit Accruals

Payright’s Evolution software is extremely flexible. Employers can accrue and track paid time-off with an option to create unlimited time-off accrual codes, and accrue based on pay frequency, employee anniversary dates, or per hours worked.

Common Account

This time-saving process automatically debits payroll, payments, and payroll tax monies from a business account, alleviating the need to track and reconcile checks individually.

Time and Attendance

Payright Payroll Affiliates, a TPS Group Company, offers a unique payroll experience. Let our team customize a payroll experience based on your sophistication and needs; not just by how many employees you have.

Employee Self-Service

Save Time! Employee Self-Service gives your workforce access to pull personal data, pay information, W2s and time off accrual information securely via the internet.

Workers’ Compensation

Gain better control of your cash flow and expenses. Our workers’ compensation services provide efficiencies by having premiums based on your actual payroll deducted automatically from each payroll cycle. No up-front deposits requirement (to avoid year-end audit issues) and a time savings on administration.

Evolution's Human Resource Module

Payright’s Human Resource system is fully integrated with our payroll system. With Evolution's HR Module, you have the ability to handle comprehensive tracking of all important employee information throughout their employment period.

Health Reimbursement Accounts (HRA)

Health Reimbursement Accounts are funded and owned solely by the employer and utilized for the benefit of employees to cover the cost of medical expenses chosen by the employer.

Flexible Spending Accounts (FSA)

Offering your employees Flexible Spending Account Benefits. FSAs offer many benefits for both employers and employees, including substantial savings on qualified healthcare expenses.

Premium-Only Plans

POP plans are limited scope Section 125 plans that allow employers to pay health insurance premiums without FICA taxation. Employees also save by paying their portion of health insurance premiums with pre-tax income.

COBRA Administration

The Consolidated Omnibus Budget Reconciliation Act (COBRA) requires that employers follow specific guidelines when notifying individuals of their benefit continuation rights under Health and Welfare plans. Employers may face heavy government fines and penalties if found in non-compliance of COBRA requirements.

Section 125 Cafeteria Plans

Employers establish a menu of benefits by electing to offer group health or accident insurance, group term life insurance, disability benefits, dental insurance, vision insurance, or voluntary benefits.

Group Medical Insurance

Every year the cost of health insurance is increasing, making it difficult to continue to offer it to your employees and retirees. When we meet with an employer group, first and every time, we’ll ask questions to put together a comparison of plans based on your answers and the best value. We’re here to help make it an effortless process.

Health Reimbursement Accounts

Health Reimbursement Accounts (HRA) may work in conjunction with any insurance plan. It can be designed to cover specific health expenses, or insurance plan cost-sharing, such as co-pays, coinsurance or a portion of the deductible on a High Deductible Health Plan. HRAs are funded and owned solely by the employer and are utilized for the benefit of employees to cover the cost of medical expenses chosen by you.

Group Dental

Group Dental provides the benefits associated with better overall health for your employees and can be a key component in a competitive compensation package to attract and retain the best employees.

NYS DBL/Enhanced

As a business owner in New York with employees, you know the state mandates disability coverage for your employees that get sick or hurt off the job. NYS DBL provides coverage up to 26 weeks for your employees. For a very affordable rate you can enhance this coverage, increasing the weekly amount available.

Long and Short Term Disability

Attracting and retaining top-tier employees should be a top priority within your company. Offering disability insurance will not only give your employees peace of mind, but help you compete with other companies that may be offering it.

Group Life Insurance

No one likes to think about prematurely dying, but the reality is it happens. Protecting those left behind is what life insurance is all about. Whether the goal is to pay off debt, like a mortgage, cover lost income or retirement, or give children the ability to continue to go to college. It’s care when someone is no longer here.

Voluntary Benefits

These plans are designed to supplement benefits that you, the employer, offer. Usually the employees pay for the plans, certain plans can be offered on a pre-tax basis and by paying that way it saves the employer FICA. Why wouldn’t you have these available?

High Deductible Health Plans

At TPS Group Medical, we understand that choosing the right health plan for you and your family can be overwhelming. That's why we offer High Deductible Health Plans (HDHPs) that combine traditional medical coverage with a Health Savings Account (HSA) or a Health Reimbursement Arrangement (HRA) to help you save for future medical expenses while providing flexibility and discretion over how you use your healthcare dollars today.

Co-op Medical Plans

At TPS Group, we understand the challenges faced by individuals and businesses in finding affordable healthcare options. That's why we're proud to offer Co-op Medical Plans as an innovative solution that empowers members to access quality healthcare at reduced costs.

Services We Offer

Retirement Plan Consultants (TPA Services)

3(16) Plan Administration

Payroll and Tax Management

Employer Sponsored Benefit Plans

Group Medical Benefits

LET'S TALK!

Sign Up for Future Updates