Benefit Plans

Do you offer a benefit plan that attracts the best employees? How time-consuming is the plan to administer? Our access to group plans and administrative support are designed to give you robust, hassle-free benefits programs. See our list of services.

With the PSM benefits system, you can be sure that all employees are offered the benefits for which they are eligible, when they are eligible. Using our benefits administration services, the time and cost savings will begin to mount before you know it, putting dollars back in your pocket and allowing you more time to run your business.

In addition to leveraging our size and experience to provide our clients and their employees with comprehensive benefit plans at affordable rates, PSM will provide the following administrative duties:

  • Track employee eligibility dates and notify them appropriately
  • Handle benefits enrollment for all eligible employees
  • Conduct annual open enrollment meetings and provide written education to help employees make the best choices for themselves and their families
  • Respond to all employee benefit questions
  • "Go to bat" for employees in situations where disputes arise
  • Take care of all benefit plan testing, reporting and audit requirements to ensure compliance

Our benefits administration services are powered by our benefits administration system, a proprietary tool that offers you the ability to create an unlimited number of benefit types, apply benefits to the appropriate employees based on user-defined eligibility criteria, and then integrate employees and employer costs associated with each benefit to payroll deductions. With the PSM benefits system, you can be sure that all employees are offered the benefits for which they are eligible, when they are eligible.

Our benefits administration system includes the following features:

  • Seamless integration with other system functions to make the administration of employee benefits an easily managed and seamless task
  • Redundant backup and system security to guard against errors and failures
  • Comprehensive employee communications reporting tools allow for the creation of custom Employee Benefits Statements. Keeping your employees educated on benefits in a simple and straightforward way eliminates confusion and doubt - the things that kill productivity and workplace satisfaction.
  • A Benefits Master Record for each benefit in the organization, allowing for the definition of eligibility rules, options, and employee/employer costs for each benefit
  • Automatic notification of changes, ensuring system integrity, and data consistency and quality
  • Automatic notification of eligibility changes

Using PSM’s benefits administration services, the time and cost savings will begin to mount before you know it, putting dollars back in your pocket and allowing you more time to run your business.

Offering a 401(k) program to your employees can be both rewarding and terrifying. We can deliver tremendous investment options (50+ different funds), simple enrollment forms, employee-friendly statements, anytime access to account information through Internet or telephone connection, and flexible matching options.

With PSM, these worries disappear. We can deliver tremendous investment options (50+ different funds), simple enrollment forms, employee-friendly statements, and anytime access to account information through Internet or telephone connection. All funds offered for investments are no-load (front or back end) and carry minimal expense fees.

In addition, PSM can provide the following 401(k) plan requirements:

  • All testing (ADP, Top Heavy, etc.)
  • Assumption of fiduciary liability for the accurate and timely movement of employee contributions and employer match dollars
  • Annual plan audits
  • 5500 returns (complete and submit)
  • Enrollment and education materials
  • Flexible match options to accommodate your preferences
  • Profit-sharing option for additional contributions by owner and other highly-compensated individuals who wish to maximize pre-tax contributions

Administering and processing pension distributions and retirement pay can be more complex than processing the payroll itself. For many firms, managing this responsibility is more than just a part-time job: it’s a full-time headache!

Our Pension Management System removes the pain and colossal effort associated with pension administration and processing. We offer the freedom and flexibility to pay pension payments, withhold taxes and deductions, print and void checks, track employee history, categorize distributions, and administer complex benefits, all in a fraction of the time and with absolute confidence. In an instant, your organization can also obtain reports, set up security, and generate employee communication letters.

The system also adjusts instantaneously to rapidly changing pension laws, policies, and reporting requirements. In other words, the system worries about keeping you current and in compliance, rather than vice-versa.

Contact PSM to learn more about the capabilities of this system. And then go ahead - get back to doing what you love to do!