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A 401(k) plan document governs a retirement plan's features and day-to-day operations. Your plan document identifies what kind of plan it is, how it works, and what special features it has. APA Benefits, Inc. will work with you to create a customized plan document that will meet your business’ needs and goals. Furthermore, Certain notices are required to be given to plan participants on an annual basis. The purpose of these disclosures is to provide plan participants with the information necessary to make timely and informed decisions about their 401(k) account.
Compliance testing determines whether or not a company fairly administering its 401(k) plan under ERISA rules. This nondiscrimination testing demonstrates that an employer does not favor certain individuals, such as the company owners. APA Benefits, Inc. provides all required testing on a plan and will work with you to correct any testing failures.
The Form 5500 is filed annually with the Department of Labor and contains information about a 401(k) plan. The purpose of the form is to provide the IRS and Department of Labor with information about the plan’s operation and compliance with government regulations.