401(k) Compliance Services
What is 401(k) Nondiscrimination Testing?
Testing a plan(s) to make sure that highly compensated employees (HCEs) and/or other key employees do not receive disproportionate benefits when compared to non-highly compensated employees (NHCEs).
When Do I Need to Complete It?
Employers have 2 ½ months following the end of the plan year to correct excess contributions of a failed test. The plan can distribute excess contributions any time during the 12-month period. A calendar year plan’s deadline is 3/15.
Why Should I Comply?
If corrections and redistributions are not made in a timely fashion, a 10% excise tax is imposed on the employer and the plan will be deemed discriminatory and lose qualified status.
The Benefits
Dynamic User Interface
Our 401(k)-testing tool supports most plan types available accompanied by dynamic customization.
Attorney Reviewed
Our 401(k)-testing tool has been reviewed and approved by industry leading benefits attorneys.
Step-By-Step Plan Setup
Our tool asks you simple questions about your 401(k) plan to generate custom data templates and reports.
Data Scrubbing
Our tool helps you identify inconsistencies and errors within your data to avoid inaccurate test results.
Easy to use data templates
Simply enter employee data in an easy to use custom Excel spreadsheet.
Reports
Generate minimum coverage, ADP, ACP, top heavy and many other reports with the click of a button!
Features
Feature
- Easy step-by-step plan setup
- Custom Data Template
- Option to Upload Additional Documents
- Client Communication Phase of the testing tool
- Automated Data Validation and Scrubbing
- One-click Nondiscrimination Testing
- Access to all Reports
- Subject Matter Expert Support Contact
- Hand-holding to identify and gather required information
- Dedicated Compliance Analyst
- Full Data Mapping by Compliance Analyst
- Identify and fix inconsistencies in Data
- Report Analysis and Recommendations