TPS Group, a third-party retirement plan administrator is committed to delivering solutions-based retirement programs based on your business environment, your culture and -- most importantly -- your needs.
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
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
Malinda deserves special recognition. She is prompt, courteous, and professional. We find her to be extremely helpful to our business.
- Angela Simino
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
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
Kathleen has helped me gather info and understand text so many times and is extremely valuable to myself and our company.
- Elizabeth Robison
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
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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TPS Group is a Third Party Retirement Administrator (TPA) committed to your company's success.
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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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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.
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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.
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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.
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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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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.
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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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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.
READ MORE »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.
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Vice President & Consulting Actuary
Vice President - Defined Contribution Department
Partner and Vice-President
Vice-President of Operations
Vice President, Pension Plan Design and Consulting
Vice-President of Sales and Marketing
Sales Consultant, Buffalo, NY Location
Defined Contribution Manager, Buffalo NY location
Sales Consultant, Midwest
401(k) and Retirement Plan Limits for the Tax Years 2018 through 2024.
Benefit plan compliance and assistance (health and retirement) COBRA HIPPA
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.
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.
When it comes to your 401(k) plan, you likely know the basics: you contribute a portion of your paycheck, your employer might match some of it, and over ...
In today’s labor market, offering a competitive salary isn’t always enough to attract and retain top talent. Employees are looking for more, particularly ...
A 401(k) plan audit can feel daunting, but with proper preparation and guidance, employers can ensure compliance and minimize risks. Understanding what ...
Changing jobs can be an exciting time, but it also comes with important financial decisions—one of which is what to do with your 401(k). If you've been ...
Selecting the right third-party administrator (TPA) is critical for businesses that want to efficiently manage their retirement plans. A TPA acts as an ...
Compliance with federal regulations like ERISA, ACA, and COBRA is critical for employers offering benefits programs. Yet, navigating these complex requirements ...
As the year draws to a close, it’s the perfect time to reflect on your financial health and ensure you’re on track to meet your retirement goals. A quick ...
The IRS has announced new contribution limits for 401(k) plans in 2025, offering savers an opportunity to boost their retirement funds. Starting in 2025, ...
Click here to download or print this document as a PDF.
October is National Retirement Security Month, an annual campaign to raise awareness about retirement planning. This initiative offers employers a unique ...
Originally published by the National Institute of Pension Administrators. Download the original PDF here. The mission of a Third Party Administrator ...
Carl and Terri, a couple in their early 60s, had been saving for retirement for over 30 years. They planned to live off their retirement savings, supplemented ...
Al and Maria, both in their early thirties, had been diligently contributing to their retirement accounts since their mid-twenties. They were renting a ...
Retirement planning is crucial for financial security, but women often face unique hurdles that can complicate this process. Understanding and addressing ...
Retirement is meant to be a time to enjoy the rewards of your years of hard work. Unfortunately, it can also make you a target for fraudsters, and scams ...
On September 23, 2024, the Retirement Security Rule will take effect, a pivotal regulatory update issued by the U.S. Department of Labor (DOL) aimed at ...
Cybersecurity is critically important for retirement accounts due to the substantial financial resources and sensitive personal data they contain. Retirement ...
This is an “IRS Rollover Chart” as it related to retirement plans and IRAs. Click here to download the chart as a PDF.
Retiring abroad can be an attractive option for individuals seeking a change of scenery, a lower cost of living, or new cultural experiences and adventures ...
Jordan and Lisa both had high-deductible health plans (HDHPs) with Health Savings Accounts (HSAs) through their employers. Throughout their working years, ...
January is an opportune time to reflect on our financial habits and set the stage for a secure and prosperous future. Financial planning is not just about ...
In the dynamic landscape of personal finance, each generation brings its unique approach to savings, shaped by the economic and political climate, societal ...
As part of the SECURE Act, Long-Term, Part-Time (“LTPT”) rules were created in 2019. Effective for plan years beginning after 12/31/2020, 401(k) plans ...
After housing and food, health care is one of the largest expenses you can expect in retirement. According to Fidelity Investments, a 65-year-old retiring ...
If you’re an employer with a SIMPLE IRA plan for your workforce and want to switch to a 401(k) profit-sharing plan beginning January 1, 2024, the deadline ...
The Internal Revenue Service (IRS) has just granted a two-year delay of the provisions in the SECURE 2.0 Act addressing Roth catch-up contributions. Specifically, ...
The SECURE 2.0 Act, signed into law in December 2022, includes measures aimed at simplifying the process for Americans to build their retirement savings. ...
Many people worry whether they will have enough in their retirement savings to live comfortably once they leave the workforce. Indeed, retirement savings ...
Between an unexpected major car repair, looming tuition bills for the kids, and ballooning credit card debt, Andy and his wife were financially strained. ...
Do you use the same company for your auto and homeowner’s insurance to get a discount and save money? Or on a smaller scale, do you buy a ‘value meal combo’ ...
While it’s true that many private companies have switched from defined benefit plans to defined contribution plans (such as 401(k) plans), it’s worth considering ...
Traditional 401(k) and safe harbor 401(k) plans are similar and are available for employers of any size. However, a safe harbor 401(k) plan has certain ...
The pre-tax advantages of a 401(k) plan make it a very effective way for employees to save for retirement and lower their tax burden. Since taxes on a ...
With 2023 right on the horizon, now is a good time for employers to review whether their retirement plans are still in alignment with their business needs ...
The Employee Retirement Income Security Act (ERISA) is a federal law that sets rules and standards of conduct for most voluntarily established retirement ...
It’s important for employers to understand and meet their 401(k) fiduciary responsibilities and comply with ERISA rules to ensure the proper management ...
This month, the IRS extended the deadlines to adopt certain retirement plan amendments for most plans. Notice 2022-33 provides plan sponsors with an extension ...
As a business owner and sponsor of a retirement plan, you know that saving for retirement requires starting early in life and saving at a high enough rate ...
It happens every minute of every day, in all types of businesses around the country: an employee receives a fake email and unwittingly clicks on a link ...
The Employee Retirement Income Security Act known as “ERISA” regulates 401(k) and most other types of employee benefit plans. Under ERISA, anyone who handles ...
The volatility in the financial markets have many 401(k) plan participants asking for guidance on how to weather the storm and manage their assets. Charles ...
A 33-year-old single mother, Karina paid little attention to her employer’s notices about the company’s 401(k) retirement plan. Retirement seemed like ...
On March 30, 2022, Senators John Barrasso (R-WY) and Tom Carper (D-DE) introduced the bi-partisan Starter-K Act in the Senate. This bill allows employers ...
Connecticut has implemented a mandatory program called MyCTSavings for employers with 5 employees or more who do not currently have a retirement plan in ...
It’s a common story – business owners put everything into their businesses for years before being in a financial position to put real money away for retirement. ...
Cash balance plans can offer high-income business owners and executives significant tax advantages and a way to build large retirement assets. A cash balance ...
Retirement plans can help employers attract and retain workers and improve morale. If you’re a small business owner considering a qualified retirement ...
Paid Leave Connecticut employers have been (or should have been) withholding a small percentage of employees’ salaries this year to contribute to the ...
When a 401k plan includes a Roth option, participants who are eligible to make traditional pre-tax 401k deferrals are also eligible to make Roth after-tax ...
In the fourth edition of the Phishing and Fraud Report, it was discovered that phishing incidents rose 220% during the height of the global pandemic compared ...
This notice explains how you may be able to pay less tax by contributing to your Employer’s Plan or to an individual retirement arrangement (“IRA”). If ...
A required minimum distribution, or RMD, is the minimum amount that must be withdrawn each year from a retirement account such as an IRA, 401(K), 403(B) ...
A cash balance plan is an employer-sponsored defined benefit plan that can be created by any business entity including Corporations, LLCs, Partnerships, ...
Ron, a single Millennial, was given the option by his employer during the annual enrollment period to choose a high-deductible health plan (HDHP) with ...
The Internal Revenue service requires all qualified retirement plans to update their plan documents every 6 years, in a formal process called a “plan restatement.” ...
In July 2020, the Department of Labor finalized a rule that makes it easier for retirement plan sponsors to send certain retirement plan documents to covered ...
Retirement plan sponsors and those who work to correct plan failures need to know that as of July 16, 2021, the IRS has extended the self-correction period ...
The last thing that Eric needed was the news that a former employee had filed a lawsuit against his company alleging discrimination. The owner of a manufacturing ...
For years, Bob and his wife Ellen talked about moving from the Northeast to a southern state when it was time to retire. They often vacationed at a coastal ...
Dawn and Carlos, a married couple in their early sixties, had both worked in the nonprofit sector for most of their careers. They had saved for retirement ...
Money is a leading cause of stress for most Americans, even those considered wealthy. Surveys show that people worry about retirement savings, unexpected ...
At age 66 and widowed, Eric was ready to retire and faced with a choice: take a one-time lump sum benefit equal to the $550,000 he had in his defined benefit ...
Every six years, the IRS requires employers to restate their qualified retirement plan documents to incorporate any recent legislative and regulatory changes ...
To our Friends and Associates – Each year during the holiday season, we take great pleasure in setting aside time from our regular work to send a heartfelt ...
The decision to retire often brings a mix of emotions: relief, excitement, and anticipation of more time to relax, travel, and pursue other interests. ...
The coronavirus pandemic has had a major economic impact across many industries, causing layoffs, furloughs, and widespread unemployment. A report released ...
“I’ve been doing performance reviews for the past 20 years, and I’ve never gone back and looked at any of them once they were submitted.” “I usually just ...
Bob’s wife, Angie, was laid off from her job in retail when the pandemic began and stores closed their doors. To make matters worse, Bob became infected ...
This forwards automatically to the Newsletter PDF with proper formatting
As the engines of the economy restart in phases, many business leaders are grappling with concerns about the welfare and safety of their employees and ...
RECORDKEEPER/ADMINISTRATOR RENEWS CERTIFICATION TO INDUSTRY BEST PRACTICES PITTSBURGH, May 27, 2020, CEFEX, Centre for Fiduciary Excellence, LLC, has ...
May is Mental Health Awareness Month. Nearly 450 Million people worldwide are currently living with some level of mental illness including anxiety, depression ...
Missing or unresponsive retirement plan participants pose a challenge for plan sponsors, who have a fiduciary responsibility under ERISA to locate them ...
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Aligning Plan Design with Your Goals Most of us live in homes that were not custom-designed for us. We adapt to them rather than expect them to be optimized ...
The IRS has published some good news for Form 5500 filers—well, some Form 5500 filers. Under Notice 2020-23, released April 9, the extensions generally ...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020, in response to the coronavirus pandemic. Key provisions ...
Coronavirus Business Recovery TPS Group will continue representing the interests of you and your employees during this crisis and keep you informed of ...
As America has nearly shut down overnight due to the coronavirus pandemic, we understand employers are faced with growing concerns about how to manage ...
The IRS on March 24 updated its website to indicate that it has extended until July 15, 2020 the deadlines for making contributions to workplace-based ...
At TPS Group, we care deeply about the safety of our employees, customers, and communities. Due to the evolving situation with the coronavirus (COVID-19) ...
As the number of coronavirus (COVID-19) cases increases in the United States, employers are faced with growing concerns about how to manage the impact ...
SECURE Act The goal of our nation’s retirement system is to create more opportunities for American workers to save and to make it easier for employers ...
Administering a retirement plan requires a high level of expertise, which is one reason employers choose a TPA for this function. A competent TPA relieves ...
The written version of your retirement plan, your plan document, defines how the plan operates. Naturally, when you started your plan, it reflected what ...
Understanding How Forfeitures Work in Your Retirement Plan When we talk about 401(k) retirement plans, we sometimes focus on the contributions made by ...
Every retirement plan is required to have a formal written document that spells out how it operates. When Congress passes new laws that impact how retirement ...
You already know that a 401(k) is a very popular retirement plan and, like other plan designs, it allows your employees to take advantage of tax deferrals ...
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) ...
Understanding Why a QDIA Matters Auto-enrollment has been proven to be effective in raising participation rates in 401(k) plans. As a result, it's been ...
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 ...
When it comes to the topic of fiduciary responsibilities for qualified retirement plans, there are three things we know really well: Plan sponsors like ...
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 ...
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 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 ...
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 – It’s Essential to Saving for Retirement Introducing a workplace retirement plan can be a compelling way for emplyees to take control ...
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 Contributions Most people can contribute to their 401(k) without worrying about exceeding the annual contribution ...
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 ...
Retirement accounts have become an attractive target for cyber-thieves, and fraudulent activity is on the rise nationally. Here are important steps to ...
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 ...
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 ...
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 ...
Don't Miss This Opportunity! "Hot Topics in HR" Complimentary Seminar November 13, 2018 You are invited to a complimentary seminar and brunch buffet ...
For the 401(k) fiduciary, the importance of timely salary deferral deposits cannot be overstated. An employer that fails to remit employee contributions ...
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 ...
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 ...
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 ...
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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