Total Benefit Services, Inc. (TBS), established in 1984, is a professional service organization that provides a full service solution to meet the retirement plan and welfare benefit plan needs of our clients. With approximately 1,000 professional and client relationships, TBS offers experienced consultants, advanced technology and responsive customer service.
TBS is committed to meeting the varied and complex needs of our clients; that commitment is illustrated by our highly trained professional staff:
Experienced Benefit Consultants to design a retirement plan that best fits your particular needs.
ERISA Attorney on staff that serves as a resource to our employees and clients. Note that Total Benefit Services, Inc. does not provide legal services.
Dedicated Administrators that work closely with employers to ensure proper plan operation.
Our TBS team works together to provide the following services:
Plan Design
- Each plan is designed by a consultant who works closely with you to determine the plan options that are the right match for your company.
- We provide a broad array of benefit programs, from 401(k) plans and pension plans to daily valuation, deferred compensation, and flexible benefit plans.
- We review your plan regularly to ensure that it continues to meet your objectives, along with compliance with Department of Labor Laws and the Internal Revenue Code’s tax qualification requirements.
- We can help identify the particular retirement income needs of executives and principals and design non-qualified deferred compensation programs for replacement income at retirement.
Participant Recordkeeping
- Each dedicated administrator is supervised by a Senior Technical Consultant, to provide your company with truly attentive service.
- TBS tracks participant account balances and vesting and reconciles these amounts with the value of plan assets.
Investment Recordkeeping and Compliance
- TBS provides another level of diligence with respect to your fiduciary duties compared to a bundled approach with a financial institution by providing additional monitoring of transactions, reconciliations, and investment expenses.
- TBS monitors accuracy and timeliness of deposits made to the plan as part of our trust accounting review that occurs on a periodic or annual basis as requested by the client.
- Our plans allow for a wide range of investment flexibility: our clients enjoy relationships with independent financial planners, banks, and financial institutions including American Express, Standard Pershing, ING, American Funds, First Mercantile, John Hancock, Nationwide, American United Life, Charles Schwab, Morgan Stanley, Hartford, Lincoln Life, Manufacturers Life, Merrill Lynch, New York Life, Securian, Smith Barney, and many others.
- TBS strengthens the communication link between the investment professional and the client, which provides the best of both worlds; the flexibility to invest as you wish while minimizing the effort and cost associated with your staffing.
- TBS provides additional assistance, when requested, to the investment professional in ERISA Section 404(c) compliance.
Liability Insurance
Total Benefit Services Inc. maintains errors and omission insurance through various insurers including CIMA Insurance sponsored by the American Society of Pension Professionals and Actuaries.
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