Retirement Planning Services, Inc.
Retirement Plan Services, Inc.

Founded in 1992, Retirement Plan Services, Inc. was established to provide retirement plan administration to small and midsize companies. Retirement Plan Services, Inc. is a third party administrator of retirement plans. The only product we market is administration of retirement plans. Our number one service to our clients is ensuring them that their plan is being administered in compliance with the most current rules and regulations at all times while providing them with accurate, timely reporting.

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We are a full service provider for all defined contribution plans - profit sharing, 401 (k), age-weighted profit sharing and money purchase pension plans. As a full service provider we take care of everything from determining which type of plan is best suited for your employee base and financial situation to ensuring that all reporting requirements of the DOL and IRS are completed in a timely manner.

We have an ERISA attorney on staff that provides consultation and custom plan documentation for our clients.

The document, allocation, and reporting system we use is DATAIR Employee Benefit Systems' of Westmont, Illinois. This system was chosen over all others on the market because of the simplicity of its reporting format. The reports that are generated for the client periodically are very easy to follow and understand.

It is our policy here that the client always comes first. It is because of this philosophy that we have the current client base we do. After sixteen years of operation Retirement Plan Services, Inc. has over 275 clients.

We do not market directly to the small to medium-sized business owner that makes up our client base. We have a referral network of stockbrokers, CPA's, attorneys, money managers, and insurance agents that bring to us their clients in need of an administrator. Most of these referral sources have worked with the two principals of RPSI for twenty years and have continued to refer their clients to them at RPSI because they know their clients will be taken care of.

On an annual basis we prepare the following reporting:

  • allocation report;
  • financial statements;
  • summary annual report (You are required by law to provide a copy of this report to each participant annually);
  • individual participant statements for each plan participant;
  • 5500 tax filing;
  • distribution forms for anyone eligible for a distribution; and
  • required compliance testing.

All of these services are included in our base fee. Addition services are available and provided on an as needed basis. These services and their fees are listed on our proposed fee schedule.