401(k) & Defined Contribution Plan Services

We provide comprehensive defined contribution consulting, recordkeeping, administration, compliance and participant services for all types of defined contribution plans, from basic 401(k) to cross-tested profit sharing plans. We also service 403(b), 457, 401(a), Church, Tribal and other types of plans. Our standard services include:

Plan Design:

We work with plan sponsors to define the plan objectives, then tailor the plan design to achieve these goals. Our goal is to implement plans that work for our clients, not plans that are easy for us to administer.

General Consulting:

Our close-contact, proactive approach results in efficient and customized solutions. We have deep experience in all aspects of plan design and compliance and know how to help clients achieve their goals.

Advanced Recordkeeping and Reporting:

Our process, technology and experience allow us to deliver timely and accurate recordkeeping and administration in both daily and balance forward environments.

Plan Sponsor Services:

We use an approach designed to provide exceptional levels of service and support for Plan Sponsors. We believe that it is our job to take full responsibility for correct operations of the plan and all related processes. We know what needs to be done across recordkeeping, daily trading, participant service, data feeds, compliance testing, reporting, government forms and all other aspects of plan operations. We do not wait to be told what to do and are pro-active in working with our Clients to resolve anything causing issues with the plan.

Participant Services:

User friendly web, mobile and telephone systems that allow access to critical participant information and transactions. We are responsible for all required participant notifications. For more on our Participant Services Click Here

Communication & Education:

NWPS works closely with all clients in order to provide the right levels of communication and education depending on goals, budgets and workforce. Of course all participant facing materials will have client (not NWPS) branding. This includes the website, quarterly statements and all system generated notices and forms. Beyond that we can provide a full range of additional materials, depending upon the requirements of each client. Additional communications can include enrollment workbooks, plan and fund highlight brochures, internal newsletter articles, annual enrollment support, educational workshops, and many other materials.

Open Architecture:

NWPS is an independent firm and has no partnerships with mutual fund or insurance companies. We have no investment requirements. We currently work with 5 major trust companies and offer over 11,000 mutual funds and collective funds on our system. We also provide recordkeeping services for company stock, self-directed brokerage accounts, model portfolios and many non-traditional investments like limited partnerships. If there is any revenue sharing from the funds chosen for the plan 100% will be credited to the plan. We are strictly fee for service and full disclosure.

Technical Guidance and Compliance:

We are committed to ensuring that our clients fulfill all regulatory requirements. We do not wait for our clients to tell us what to do, but instead work with each client to develop and annual compliance plan encompassing all required testing and limits.

For more on Compliance Testing and Administration Click Here

Preparation of Required Government Filings:

We prepare signature ready forms and notices including:

  • Form 5500 and supporting schedules
  • 1099R and Form 945
  • Summary Annual Reports
  • Fee disclosures
  • Required participant notices