1. Distribution Processing:
Our service standard is to process all distribution requests within 3 business days of receipt of documents in good order.
2.
Nondiscrimination Testing & Contribution Calculation:Each year, SPS completes thousands of non-discrimination tests and contribution calculations for our clients. This process creates a natural bottleneck of work because most 401(k) plans have a December 31 year-end and a testing deadline of March 15. Since 2009, SPS has completed 100% of these tests on time for plans in which we had received client data in good order by January 31.
3. Form 5500 Preparation:
Most 401(k) plans are required to file a form 5500 with the DOL to report their financial condition, investments and operations. Unless an extension is filed, the Form 5500 filing deadline is the last day of the seventh month after the plan year ends (July 31 for calendar- year plan). Since 2009, SPS has processed 100% of these returns on time when client data has been received in good order.
Annual Administration Deadlines
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