AMI Benefit Plan Administrators, Inc. specializes in Fiduciary Plan Administration services as well as providing Fiduciary and record keeping services to retirement plans, including 401(k), profit sharing, money purchase, employee stock ownership, defined benefit, 403(b), prevailing wage, safe harbor, and cross-tested plans. AMI is also a Pooled Plan Provider (PPP), please call for more information.

Fiduciary Plan Administration Services include (but are not limited to) the following:

  • Certifying all distributions, including terminations and in-service distributions. AMI is also responsible for obtaining all of the documentation to certify hardship distributions. Once certified, AMI will issue signature-ready paperwork to the participant, including the appropriate IRS tax notices.
  • Certifying all loans. AMI will determine if the participant meets all of the regulatory requirements and issue signature-ready paperwork via mail or email.
  • Signing and electronically filing the Forms 5500 and 8955-SSA.
  • Reviewing and qualifying Domestic Relations Orders.
  • Keeping track of contribution timing and notifying the employer if there are potential late deposits.
  • Reviewing the contributions made to the plan against what should have been made and calculating any true-up deposits.
  • Live answer customer service to provide education to the participants regarding their service options, as well as the ability for participants to issue their requests via a website.
  • In general, AMI's Fiduciary services mean that AMI shares responsibility with the employer for keeping the plan in compliance with regard to the day to day operations of the plan.

Fiduciary Compliance Services include the following:

  • Performing non-discrimination testing
  • Calculating employer contributions (match, profit share, safe harbor, etc.)
  • Plan document, Summary Plan Description, Board Minutes, Amendments
  • Determining Eligibility
  • Preparing Forms 5500 and 8955-SSA

Fiduciary Record keeping Services include the following:

  • Processing plan deposits (contributions, loan payments, rollovers, etc.)
  • Plan withdrawals (distributions, loans)
  • Balancing fund positions
  • Quarterly reporting
  • Updating fund pricing and processing transactions entered via Internet or App