Employee Benefit Plan Services

Employee Benefit Plan Services

Since 1972, the professional staff of Kamphaus, Henning & Hood has remained focused on providing simple answers to complicated questions. One area of great complexity for many businesses and business owners is that of employee benefit plans.

Our clients understand that the Employee Benefit Department of Kamphaus, Henning & Hood has the working knowledge, experience, and ability to service a wide spectrum of their employee benefit plan needs. Our trained staff members stay informed about frequently changing federal regulations and limits so that we can ensure our clients of a plan design that minimizes administration cost, maximizes benefit from the plan and, most importantly, operates in harmony within the framework of the company to attain the goals laid out at the onset.

Kamphaus, Henning & Hood has the ability to assist our clients at any level of service, from plan design to plan setup and on through total implementation and administration. We currently provide full-service plan administration and audit services to more than 100 employee benefit plans; a figure that continues to grow, primarily through referral.

For plans already in place and with more than 100* participants, our Benefit Plan Audit Team can perform the total audit function, which is required by the Department of Labor (DOL) and is necessary to ensure the tax-qualified status of the plan. As a result of our audits we are often able to offer valuable, company-specific feedback about streamlining a system that may effectively reduce costs.

As Third Party Administrators, we work well with all brokers, insurance agents, financial advisors and attorneys. This way you and your employees have a wide range of funds and services to choose from instead of the limited few choices you may currently have available. We have also been approved by American Funds and Principal Financial Group as preferred providers. Whomever you choose as your providers, we become a team with them!

Our Services cover a wide range from providing plan implementation, plan document services, required annual compliance testing, various participant distribution including loans, hardships and calculated required minimum distributions. We will review your plan investments annually, reconcile all trust assets, deposits, withdrawals and investment fees, along with quarterly and annual participant statements, depending on which one better suits your needs. Also available to you, we will complete your annual retirement plan tax return Form 5500, any employer and employee 1099's or other government forms that may be required for participant distributions. We can also assist you in completing other employee benefit services, including filing of required annual tax Form 5500 for your Flexible Spending Plan, Employee Health and Medical Plan, Employee Life Plan, Dental and Vision Plans.

To learn more about these or the other services that Kamphaus, Henning & Hood provides, please contact our office during normal working hours at 513-752-8350.