Matthew J. Borror

Employee Benefit Plan Services

 Plan Termination Services:

• Accept appointment from bankruptcy trustee to assume the duties outlined in Bankruptcy Code Section 704(a)(11) and oversee the termination of the plan. This includes:
  

• Fee and service analysis of existing third party administrator;

• Facilitation of participant distributions;

• Drafting of related plan documents; and
  

• Submission of required federal filings

   

Independent Fiduciary Services:

• Act as an independent fiduciary for the plan either on a permanent basis or else for a specific transaction or time period

  

Compliance Services:

• Draft service agreements that comply with ERISA 408(b)(2) which may also be referred to as DOL Reg. 2550.408b-2(c).

• Help sponsors of governmental, 401(a), 403(b), 457, or non-exempt plans first correct any errors in their plans and then receive amnesty from the Internal Revenue Service or Department of Labor

Often the plan is brought back into  compliance through one of the programs within the Employee Plans Compliance Resolution System (EPCRS).  Two such programs are the Voluntary Correction Program (VCP) and the Audit Closing Agreement Program, also known as Audit CAP

• Help plan service providers (RIAs, broker-dealers, record-keepers, etc.) draft contracts that describe the compensation they receive, the services they provide, and their fiduciary status in an ERISA-compliant manner.