TIC is a Third Party Administrator (TPA) of pension plans - defined benefit, defined contribution and 401(k).  We run the daily operation of each of these programs for our clients.

Administration of qualified pension plans requires expertise to keep abreast of ever-changing government rules, regulations, and judicial interpretations that flow from dozens of federal laws.  We have in place technologically advanced computer systems to handle the huge volume of plan and participant data, much of which must be kept for 50 years or more.  Our computer programs also deal with the complex provisions of each of our clients' specially designed pension eligibility and benefit formula.

Pension Administration Services Include:

  •  Preparing and distributing all required and desired communication material to participants

  •  Collecting, storing, and processing plan data

  •  Preparing employee pension statements

  •  Determining participant eligibility and calculating benefit amounts

  •  Printing and mailing benefit checks

  •  Providing direct deposit of pension checks and processing income tax withholdings

  •  Explaining plan provisions to participants and helping them file applications for benefits

  •  Helping participants exercise all their rights under the plan

  •  Compiling plan data used to complete reports filed with government agencies

  •  Preparing plan statistics for actuarial study

  •  Implementing terms of reciprocal agreements

  •  Maintaining all plan files, documents and correspondence

  •  Executing payroll audit programs for multiemployer clients

  •  Providing a secured website for participants allowing real-time access to their eligibility and benefit status

We work closely with other plan advisors - attorneys, consultants, actuaries, auditors, and investment managers - to ensure that the pension plan is being administered according to its terms and according to law.