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Administration Services
Defined Benefit Plans
A defined benefit plan is an employer sponsored retirement plan that provides a guaranteed benefit at retirement. Each member’s benefit is determined by an actuarial calculation based on factors such as salary history, benefit formula, and years of service.
HYN Consulting brings a team of experienced professionals skilled in managing the complexities of these plans. We understand the importance of efficient, accurate administration and prioritize compliance, consistency, and overall plan effectiveness.
Our Services
Calculate employee eligibility and manage plan entry and departure
Calculate employee eligibility and manage plan entry and departure
Determining eligibility to receive benefit accrual
Determining eligibility to receive benefit accrual
Organize and oversee member disability cases
Organize and oversee member disability cases
Document employee contributions and plan earnings
Document employee contributions and plan earnings
Maintain participant vested-percentage records
Maintain participant vested-percentage records
Coordinate individual benefit statements
Coordinate individual benefit statements
Record distribution processing of benefit calculation amount for members and beneficiaries
Record distribution processing of benefit calculation amount for members and beneficiaries
Distribute customized participant statements
Distribute customized participant statements
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