1.800.783.5149

Daily Record Keeping Services

Oriental Pension Consultants, Inc.

List of Services Provided for Daily Valued 401(k)/1081(i) Plans

  • Establish and maintain an plan account for each Plan participant
  • Participants’ accounts will be valued as of each business day based upon the price last provided by the investment company
  • Adjust each participant’s account daily for contributions made by, or on behalf of the participant, and any distributions, loans, loan repayments, transfers, income, gains, losses and expenses attributable to the participant’s account
  • At the end of each plan year, provide the Employer with a summary of participants’ allocated contributions, forfeitures, distributions, loans, loan repayments, income, gains, losses and expenses, and total and vested account balances
  • As of the end of each plan quarter, provide the Participant with an individual account statement  showing the participant’s allocated contributions, forfeitures, distributions, loans, loan repayments, income, gains, losses and expenses, and total and vested account balances
  • Determine benefit distribution amounts and due dates
  • Coordinate direct rollovers of benefits to other qualified plans or individual retirement accounts
  • Compute and inform the Employer of the amount of the Employer’s matching contributions due under the provisions of the Plan
  • Administer loan programs including: provide the Employer with an amortization schedule for each participant loan, track participant loan balances and apply payments as received
  • Perform annual non-discrimination and compliance tests pursuant to current government regulations
  • Provide the Employer with participant benefit election forms, beneficiary designation forms, direct rollover forms, withholding election forms and other notices and forms
  • Prepare the Plan’s Annual Report (IRS Form 5500 and PR Form 480.70)
  • Provide Internet and Voice Response access that will generally be available 24 hours per day
Request Information