Title Image

We Sweat The Details

You may have noticed that there are lots of details involved in the recordkeeping and administration of retirement plans. Most plan sponsors do not want to be involved in those details but want to be confident they are being handled appropriately.


Plan Sponsors want a provider who understands and takes care of the details and provides proactive advice and guidance on what needs to happen next. At NWPS our clients are in an executive oversight and decision-making role. We handle plan operations, participant service and compliance.

Prime Examples

Plan/Document Compliance

The plan document describes (in excruciating detail) the rules of the plan; it details the rights of participants and the responsibilities of the plan sponsor. Further, it must be compliant with all existing regulations, and change when regulations do. When we take over a plan, we audit the plan document to ensure it is compliant with current regulations. Then we audit plan operations to ensure that they are compliant with the plan document. NWPS does not send out generic regulatory compliance updates, but instead provides each client with recommendations relevant to their plan, population, and goals.

Participant Communications

NWPS takes full responsibility for producing and delivering all required participant notices. Plan sponsors do not need to be involved in this (ever changing) highly technical process. In addition to required notices, NWPS collaborates with our clients to develop and deliver participant communication and education initiatives designed to increase plan utilization and help participants get ready to retire.

Payroll and Contributions

Successful plan management depends on a robust payroll contribution and data submission process. We work with clients to first, customize the content, format and frequency of the data provided (which is dependent on the plan document) and second, ensure that the transmission of the data and contributions happens timely and efficiently. This process ensures timely investment of participant contributions. We work to identify and resolve issues; we don’t let them linger.

Audit Support

We know what plan auditors need; we provide a comprehensive annual report that outlines all the information needed to perform the annual plan audit and Form 5500 filing. While we try to head off questions by providing a detailed and easy to use audit report, we know that there will be questions or clarifications needed, thus we are happy to work with the auditor directly. We document and save comprehensive, contemporaneous work files for everything we do in the plan. These files are essential in the event that your plan is identified for an IRS or DOL audit. NWPS has managed 30 DOL audits in the last two years with zero findings, fines or restitution required. Nationally 65% of all DOL audits have findings and fines ($1.6 billion in 2018).

Compliance Testing

NWPS is committed to understanding our clients’ unique needs and goals. We review each retirement plan’s compliance history and work together to create a comprehensive compliance plan and communicate that plan clearly. We help our clients understand the options and limitations available to them so that they can make informed and confident decisions. Our goal with compliance testing is two-fold, first and foremost, no surprises and second, making sure that our clients understand the outcomes.