Maximize Your Ability to Save for Retirement

CBIZ Tofias Retirement Plan Services offers complete consulting and independent, third-party administration services for corporate retirement plans. We understand that a winning plan differentiates your company and helps you attract and retain talented, high-caliber employees. Our experts will consult, design, implement and administer a plan that maximizes your wealth and addresses cost, tax and compliance implications for your company, while also providing your employees with comprehensive benefits.

ERISA Consulting. CBIZ Tofias offers expert guidance regarding all retirement plan issues, and can help you address specific issues, as well as provide day-to-day plan management.

Plan Design Review. We analyze your current plan design to determine if it is meeting your objectives, whether your goal is to maximize business-owner benefits or ensure you are providing the best retirement benefits based on current laws. We will review your plan in detail, recommend improvements if needed, and coordinate with current providers.

Plan Document Review . As laws evolve, we will review your plan documents to ensure they are current. If not, we coordinate with your current provider or update the plans ourselves, depending on your specific needs. In addition, we may seek IRS approval for the rewritten documents if we determine that the noncompliance has exposed plan assets to substantial risk.

Service Provider Review. As an independent provider of retirement plan consulting and third-party administration services, we have the broad insight to help you analyze your current service providers. Whether you are looking to upgrade services, change investment platforms, or add participant advice, we can assist in the search.

Fee/Expense Review. In light of the increased focus on investment-related fees charged by service providers to 401(k) plans, we can analyze your plan’s expenses to assess whether you are receiving commensurate value for the fees paid or deducted from plan assets. We can benchmark comparisons of your plan fees to others of similar size, industry and location, an analysis that enables you to implement cost-saving strategies and meet your fiduciary obligations.

Fiduciary Review. Retirement plan fiduciaries, including the employer and plan trustees, must meet complex legal and regulatory requirements and must perform their duties with skill, prudence and diligence. Our fiduciary review can help you meet these oversight responsibilities.

Employee Communications. Effective communication of benefit information plays an important role in employee morale and retention. We can help enhance communications by facilitating group education and enrollment meetings; preparing total benefit statements, retirement savings projections and income replacement analysis; and by delivering distribution counseling.

Technical Corrections Review. We review your plan document and its operations to determine if there are problems that could result in issues with the IRS or DOL. We assess the legal and financial risks created by any errors and help you implement the appropriate corrections.

Representation in Front of Government Agencies. If your plan is subject to IRS audit or DOL investigation, we will represent and support you.

Third-Party Administration. We provide complete third-party administration services, from writing the plan documents to implementing the plan itself, including calculating the contributions, monitoring compliance with tax laws, and preparing your annual tax return (Form 5500).

Employee Benefit Plan Audits.  Mayer Hoffman McCann P.C. – Tofias New England Division provides employee benefit plan audits*, including 401(k) plans and 403(b) plans.  Our team of dedicated specialists is well versed in ERISA, Department of Labor, and IRS regulations, and we service more than 125 qualified benefit plans of New England-based companies, ranging from one hundred participants to several thousand participants.

CBIZ Tofias will simplify the myriad of retirement plans, including profit sharing, new comparability/cross tested, 401(k), defined benefit, non-qualified and employee stock ownership plans (ESOPs), managing all the details so you can focus on your core business. In addition, we'll ensure that your plans meet all applicable requirements of ERISA, the Department of Labor (DOL) and the Internal Revenue Service (IRS).

*Audit and other attest services provided by Mayer Hoffman McCann P.C., an independent CPA firm.