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Retirement Administration Services

Retirement Administration Services in Woodcliff Lake, NJ

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

TPS is committed to delivering solutions-based retirement programs based on your business environment, your culture and -- most importantly -- your needs.

Retirement Administration Services

At The Pension Service in Woodcliff Lake, NJ, we offer all of the services you need to simplify the management of your company retirement plan and to maintain compliance.

TPS is committed to delivering solutions-based retirement programs based on your business environment, your culture and -- most importantly -- your needs.

  • Preparation of interim and annual valuation reports
  • Partner with numerous recordkeeping solutions including daily valuation, balance forward and trust accounting
  • Benefit statement
  • Calculation of employer contribution
  • Consultation on corrective processing
  • Loan administration
  • Calculation of vested and forfeited benefits
  • Distribution/rollover assistance
  • ERISA compliance
  • Non discrimination testing
  • Reporting and disclosure reports including the IRS form 5500
  • Employee enrollment support

TPS Group is a third-party retirement plan administrator, serving Woodcliff Lake, NJ and the entire Northeast.

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Retirement Administration Services Videos

Your World Evolves and Your Retirement Plan Should, Too

SECURE Act - Setting Every Community Up for Retirement Enhancement.

Frequently Asked Questions

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 These taxes are not paid until the money is withdrawn from the account at retirement or other distributable events. 


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.  

Resources

401(k) and Retirement Plan Limits for the Tax Year 2024

401(k) and Retirement Plan Limits for the Tax Years 2018 through 2024.

Internal Revenue Service (IRS)

  • Federal tax laws, rules and forms
  • Businesses and individuals
  • Independent contractor rules for IRS

U.S. Department of Labor (DOL)

  • Federal wage and hour law
  • Exempt and non-exempt employee status
  • Compliance assistance
  • Independent contractor rules for DOL

Employee Benefits Security Administration

Benefit plan compliance and assistance (health and retirement) COBRA HIPPA

U.S. Bureau of Labor Statistics (BLS)

Labor statistics & wage data

Reviews

We look forward to working with TPS Group next year

We look forward to working with TPS Group next year

As another year ends, I want to express my sincere gratitude and appreciation to you and TPS Group for assigning us Krista Blier. Krista provides exceptional customer service and has been a major asset to me and Lynch, Traub, Keefe & Errante, P.C. She is extremely knowledgeable and always accessible. Always on top of the RMD’s, giving me an explanation on form 5500-SF to present to Mr. Keefe & keeping us updated with any account changes as well as specifics. It is a relief knowing I have full faith in Krista and can turn a blind eye to our account. I cannot tell you how many vendors/brokers I have to stay on top of and babysit to make sure our deadlines are met and to perform their job duties. Krista is a pleasure to work with and we look forward to working with her and TPS Group next year.

- Michael Panela

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