Pension Administration Services

As a fiduciary, the Trustee shall discharge his or her duties with respect to a Plan solely in the interest of the participants and beneficiaries for the exclusive purpose of providing benefits to the participants and their beneficiaries and defraying reasonable expenses of administering the Plan.  (Section 112.656(1), Florida Statutes)

The Pension Resource Center will help you satisfy the fiduciary obligation that you have to your Plan and its participants.  We believe that we work for all the participants of the Plan, even while we remain accountable to the Trustees for our performance.  We also offer an organized approach to maintaining the records and systems essential to the operation of your Plan, so that your Plan operates smoothly at all times. Finally, we have the expertise to back our commitment to you.  We know how to provide the support that you require as a Trustee, allowing you to run your Plan more effectively.  You can rest easy by putting us to work for you!

The Pension Resource Center Offers:

RAbility to Provide the Services Required by the Plan and Trustees

RExperience, Familiarity with Local, State, and Federal Laws

RPersonal Service

RAccessibility to Trustees and Participants

þ      Attend Public Pension Fund Meetings, Including:

à   Notice

à   Agenda

à   Minutes

þ      Act as Records Custodian for Plan

þ      Assist with Coordination of Service Providers

þ      Maintain Systems to Record Contributions to Plan

þ      Maintain Systems to Record Disbursements from Plan

þ      Complete Monthly and Annual Reconciliation of Accounts

þ      Assist in Preparation of Government Reports

þ      Maintain Service and Employment Records

þ      Provide Access to Plan Records and Information

þ      Prepare and Coordinate Requests for Proposals for Service Providers

þ      Assist in Creating and Evaluating Professional Relationships with Service Providers

þ      Obtain Quotes for Plan Liability Insurance and Fidelity Bond Coverage

þ      Act as Liaison for Plan to Florida Division of Retirement

þ      Maintain Pension Checking Account (as Required)

þ      Prepare Monthly Financial Statements (as Required)

þ      Issue Annual Statement of Benefits to Participants

þ      Prepare Fund Correspondence to Providers and   Participants

þ      Conduct Pension Workshops for Participants

þ      Respond to Inquiries by Trustees, Participants, Service Providers, and Employers

þ      Advise and Educate Trustees on Various Pension Matters

þ      Newsletters and Internet Access

þ      Maintain Data for Benefit Eligibility of Participants

þ      Process Benefit Applications

þ      Assist in Processing Benefit Claims and Appeals

þ      Obtain Medical Records for Disability Applications

þ      Issue Benefit Payments (As Required)

à   Check

à   Direct Deposit (EFT)

þ      Tax Deposits, 1099s, and IRS Reporting