Pension and Annuity Administration
Comprehensive Pension & Annuity Plans Administration
Amalgamated Employee Benefits Administrators offers a robust, end-to-end Pension & Annuity Administration service. It encompasses all aspects of well-managed and administrated pension and annuity plans, including:
- Maintaining records of participant benefits, eligibility and payment history
- Maintaining full financial records
- Processing pension applications in compliance with fund benefit rules
- Processing annuity plan distributions and loan applications
- Assisting in the preparation of government filings
- Preparing and issuing 1099s
- Administering fiduciary liability and fidelity bond insurance
- Attending and reporting at trustee meetings
- Assisting with annual audits
- Managing all billing, collection and reconciliation of monthly employer contributions or withdrawal liability payments; data maintenance; delinquency and standard reporting
- Handling member inquiries (i.e., eligibility, application status, contributions, pension payments, and annual pension and annuity statements)
- General administration, coordination and communications with other plan professionals (i.e., accountant, auditor, attorney, actuary, benefit consultant) and the preparation of annual valuation reports, funding notices, SSA files for 5500s
- Managing appeals (i.e., documentation, presentation, recommendations, receipt of final determination, communication of resolution)
- Maintaining records (i.e., plan documents and amendments, SPDs/SMMs/benefit overviews, trustee meeting minutes, trust agreements, rate/fee adjustments)
