ABRC-ESOP
Tuesday, August 07, 2007
What should I look for when choosing a Third-Party Administrator (TPA)?
Evan L. Rhodes: A good TPA will:-Collaborate with your ESOP consulting firm to review your options and assist in building a plan that meets your needs
-Constantly monitor Internal Revenue Service and Dept. of Labor Regulations to determine their options for and effect on existing and newly created ESOP plans
-Analyze employee census information to determine eligibility for each plan year
-Conduct Department of Labor and/or Internal Revenue Service audits of your ESOP plan from their office trustees, investment advisors, and attorneys involved with the plan.
-Constantly monitor Internal Revenue Service and Dept. of Labor Regulations to determine their options for and effect on existing and newly created ESOP plans
-Analyze employee census information to determine eligibility for each plan year
-Conduct Department of Labor and/or Internal Revenue Service audits of your ESOP plan from their office trustees, investment advisors, and attorneys involved with the plan.
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