About AMI Benefit Plan Administrators, Inc.
For decades, AMI has helped employers manage retirement plan administration with experienced support, dependable service, and a strong commitment to doing things the right way.
Experienced Client Service Teams
AMI utilizes multidisciplinary client service teams with many years of experience and minimal turnover. Our staff works closely with plan sponsors and service partners and has extensive experience working with the IRS, DOL, ERISA counsel, financial firms, broker dealers, mutual fund companies, and other retirement plan providers.
Technology and Industry Expertise
AMI employees undergo extensive training and hold numerous industry designations. The firm supports operations with full-time internal technology staff and continuously monitored custom software, helping ensure responsive service and long-term client relationships.
Our History
The founder of AMI entered the insurance industry in 1979. He was working mostly with small business owners that expressed a need for assistance with setting up their benefit plans. Shortly thereafter, the founder created an insurance agency that specialized in employee benefits. They first contracted to provide enrollment and investment education services to a 401(k) plan in 1982.
During the 1980s, AMI used outside service providers to perform administrative services for benefit plans. However, we found that employers and participants were becoming frustrated with their inability to get customer service questions answered regarding loans, hardship withdrawals, QDROs, etc. It seemed that the service providers and record keepers kept turning the questions back to the employers. AMI felt that was not the way to provide customer service so we started to provide those answers. In 1991, one of these service providers went out of business and AMI decided to provide administrative services to those plans. By 1994, we founded AMI Benefit Plan Administrators, Inc. as a separate company from the insurance agency. In 1997, we were approached by a national firm about taking over a group of plans for administrative purposes. We went from administering 75 plans to 225 plans in one year and have been growing ever since.
Along the way, we found out that there was software to perform the testing, 5500 and record keeping services to plans. However, software did not exist to provide comprehensive customer service that pertained to the day to day operations of plans, so we wrote our own. We employ full time IT personnel to constantly update our software and to maintain our network. Along with our custom software we employ educated staff members that have obtained many industry accreditations who understand that as a Fiduciary, we put the interest of the plan and its participants first.
AMI’s commitment to providing excellent customer service, our constantly evolving technology and our staff has permitted us to grow into an organization that is dedicated to providing co-fiduciary, record keeping and compliance services for employers across the United States.