THIRD PARTY ADMINISTRATOR (TPA) SERVICES
By using Precise Payroll for your payroll and TPA Services you will benefit from the following:
- Cafeteria Plans, including Medical and Dependent Care Flexible Spending Accounts (FSAs), Premium
- Conversion Plans, and Premium Only Plans (POPs), governed by IRS Section 125
- Health Reimbursement Arrangements (HRAs) governed by IRS Section 105
- Health Savings Accounts (HSAs) governed by IRS Section 223
- Qualified Transportation Plans (QTPs) governed by IRS Section 132
- Preparation of Volume Submitter Adoption Agreement, Summary Plan Description (SPD) and all required notices and forms
- Determination of Employees Eligible to Participate
- Determination of Vesting Service
- Submission of contributions per pay period
- Preparation of Annual Trust Accounting
- Calculation of Employer Matching Contributions
- Calculation of Employer Profit Sharing Contribution using various allocation methods: Pro-Rata, Integrated with Social Security Wages and New Comparability based on groups, age and/or service
- Preparation of Annual IRS Filing 5500-SF and 5500 as well as assistance with large plan audit
- Distribution Processing, to include terminations, in-service, hardship, and age 70 RMDs