Because of the client’s complex structure, we suggested a safe harbor plan. We created proposals, recommended an investment advisor and conducted an employee meeting explaining the new plan’s benefits.
The result: Participation more than doubled. The value of contributions increased from a total of $230,000 to $20,000 per payroll or about $480,000 annually. Because of the positive result, BKD was asked to create a mirror plan for another enterprise owned by the client.
BKD is a member of the American Institute of Certified Public Accountants’ Employee Benefit Plan Audit Quality Center. The Center’s member firms have demonstrated a commitment to employee benefit plan audit quality and to raising awareness about the importance of such audits. The Center provides members with best practices, guidelines and tools CPAs need to perform quality benefit plan audits and better serve their clients. As a member, BKD has designated a partner responsible for overseeing its employee benefit plan audit practice, has established firmwide training and quality control programs, performs annual internal inspection procedures and meets the firm’s peer review report findings publicly available.
Jack Foster Company Erectors, Inc.
Wichita, Kansas
BKD Team
Our benefit plan team includes highly credentialed accountants and consultants who focus on employee benefit plans. These experienced and knowledgeable team members can help you comply with Department of Labor and ERISA filing requirements. They understand how employee benefit plans work, make benefit plan services a priority and work with your schedule to complete services within a mutually agreeable timeframe.
BKD Solutions
Our proven solutions and expertise demonstrate our goal to deliver practical, timely and affordable services. Here are just some of the solutions we can provide:- 401(k) plans
- Profit-sharing plans
- Cafeteria plans
- Employee stock ownership
plans - 403(b) tax-sheltered annuity plans
- Cross-tested plans
- Defined benefit plans
- Plan design and implementation
- Analysis of tax benefits or consequences
- Employee communications
- Administration
- Daily valuation services
- Audits for plans with 100 or more eligible participants
- Form 5500 preparation
- Recordkeeping outsourcing
- ESOP feasibility analysis
- Nontraditional plan design
- Investment policy statement drafting and reviews *
- Investment and manager performance measurement *
BKD is sensitive to rules governing the delivery of a mix of services. Our accountants and consultants can work with you to identify employee benefit plan services that will help you achieve your goals while complying with governmental regulations.
Read our Benefit Plans Solutions sheet for additional information to help your organization strike a better balance between benefit plan costs and providing competitive benefits to your employees.
* Solutions performed by BKD Wealth Advisors, LLC, an investment advisor registered with the Securities and Exchange Commission and wholly owned subsidiary of BKD, LLP, providing the WealthPlan services of investment management, personal wealth planning, estate planning and insurance solutions
For More Information
Contact your BKD advisor or:Wade Clark
Sales and Marketing Director
417.831.7283
