Augmenting subject matter expertise to deliver business value
Enterprise Iron offers a variety of impactful Workforce Solutions to empower our clients to optimize and streamline their operations. We reduce overhead expenses while providing scalability as your business grows and adapts to the market. With reduced training costs for skilled services, you are freed up to reinvest that money and focus on other areas of your business.
We empower our clients by cutting waste, simplifying processes, and leveraging key resources with the expertise you need to get the job done right. We expertly resolve and optimize any workforce challenges that you encounter – no matter how niche or complex.
Our Team can help you with:
- Compliance Services: 5500 Reporting, Plan Restatements & Nondiscrimination Testing
- Platform Conversions or Upgrades
- Specialty Skillsets
Rightsourcing: Puerto Rico
Organizational Change Management
With Enterprise Iron’s Workforce Solutions you can:
Elevate any project team with our Staff Augmentation solution. We provide expertise including Project Managers, Business Analysts, Technology Specialists, Agile Developers, Operational Resources.
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Evaluate Day-to-Day Operations to Ensure the Plan is Operating in Compliance with the Plan Document
While adoption of an approved plan document will provide assurance that the document language complies with the law, it is important to evaluate the day-to-day processes and procedures to be certain that the plan is operating in compliance with the terms of the plan document. We recommend the following to prepare for the restatement process and ensure the plan is operating in compliance with the plan document:
Independent Review: Consider obtaining an independent review of the plan document, procedures, and compliance.
Plan Processes and Procedures: Review and compare against the plan document to ensure that the plan is operating in compliance with the plan document.
Discrepancies: Identify if procedures should change to comply with the plan document or if the plan document should be revised to comply with the plan’s operation.
Plan Provisions: Evaluate the plan’s provisions and decide if changes should be made. Is the plan working well? Are the employer contributions at a desirable level? Is there a high level of employee participation? Is this an opportune time to make voluntary discretionary changes or plan enhancements?
Definition of Compensation: Review your plan’s definition of compensation. Are contributions being allocated on the definition as outlined in your plan document?
Compliance Testing: Review your plan’s compliance testing. Are the correct tests being performed? Does the plan have trouble passing the tests?
Language: Review language on contribution groups or tiers to be sure it is clear and does not leave the groups open to interpretation. For example, if rates of contribution are based on years of service, what is the definition of years of service for this purpose? At what date does the change in grouping take effect?
Legal Counsel Review: Have legal counsel review all documents prior to finalization.
Take Action Promptly: Watch for alerts from the service provider that the restatement period has begun. Carefully review all documents, including a new draft of SPD. Be mindful of, and responsive to, deadlines. Be sure to act promptly as directed.
Our Plan Restatement & Operational Consultants are available to support your team and keep your organization compliant!