Our Services
At Retirement Benefit Solutions, we specialize in delivering expert consulting services designed to streamline operations, ensure compliance, and enhance the experience for both employers and their employees. We serve as a trusted extension of your team, managing critical plan components and providing end-to-end administrative support.
Whether it’s designing and administering qualified retirement plans or navigating the complexities of regulatory compliance under ERISA and IRS guidelines, our role is to simplify complex processes, reduce administrative burden, and deliver tailored solutions that align with your company’s goals and fiduciary responsibilities. With our experienced team and client-first approach, you gain a reliable partner focused on accuracy, efficiency, and value.
Personalized Plan Design
Every company is unique—and your retirement plan should reflect that. We offer customized plan design solutions tailored to your specific business goals and workforce needs. Our flexible plan documents allow us to build in strategic features that create maximum benefits, enhance operational efficiency, and support long-term success.
A thoughtfully designed retirement plan not only supports employees in saving for a secure future but also serves as a powerful tool for employers to attract and retain top talent.
Plan Document Consulting Services
Whether you're adopting a new retirement plan or evaluating an existing one, our team provides expert consulting to ensure your plan is aligned with your company’s evolving needs.
We begin with a complimentary design analysis to demonstrate how a retirement plan can benefit both ownership and employees. Through a collaborative consultation, we’ll gather your objectives and guide you through recommended plan features and responsibilities. To explore the various plan options we service—including 401(k), Profit Sharing, Defined Benefit, and more—please visit our PLAN TYPES for more information.
When we take over an existing plan, we conduct a thorough review of the current provisions and suggest enhancements if your goals or workforce demographics have changed. Additionally, when corporate changes arise, our team is available to assess the impact on your plan and recommend adjustments to maintain compliance and effectiveness.
Compliance Services
We specialize in delivering full-service plan consulting, operational oversight and regulatory guidance designed to keep your retirement plan compliant, efficient, and aligned with your strategic goals.
Our compliance services go far beyond basic annual filings. RBS performs a wide range of critical functions including year-end valuation, contribution calculations, required nondiscrimination and compliance testing (such as ADP/ACP and top-heavy testing), and preparation of government reporting forms like Form 5500 and associated schedules. We also handle contribution limit monitoring, eligibility tracking, participant loan and distribution processing, and calculation of required minimum distributions (RMDs).
In addition, we offer proactive compliance consulting as an integral part of our service model—helping you stay ahead of regulatory changes and avoid costly errors. Our team regularly reviews your plan’s operational processes in light of current IRS and DOL regulations to identify potential issues before they escalate into compliance concerns.
Whether it’s a required plan amendment, a periodic restatement, or the implementation of sweeping regulatory updates, we provide expert guidance and project management every step of the way. We also offer support in interpreting new legislation and applying it to your specific plan design. Our goal is to make sure your plan is always up to date, audit-ready, and aligned with your organizational goals—with peace of mind for you and protection for your fiduciary role.
Our goal is to reduce your administrative burden while ensuring your plan stays compliant and optimized. By partnering with RBS, you gain a dedicated compliance resource that not only understands the regulatory landscape, but also delivers personal attention, responsive service, and practical solutions that align with your organization’s retirement plan objectives.
ERISA Fidelity Bond and/or Fiduciary Bond Coverage
Under the Employee Retirement Income Security Act (ERISA), plan sponsors are required to maintain an ERISA fidelity bond to protect the retirement plan against losses resulting from acts of fraud or dishonesty by individuals who handle plan assets. This bond is a federal requirement for most qualified retirement plans and helps safeguard participants' interests.
Generally, the bond must be equal to at least 10% of the plan’s assets, with a minimum bond of $1,000 and a maximum of $500,000 (or $1,000,000 for plans that include employer securities). The bond must be issued by a surety company approved by the U.S. Department of the Treasury and renewed annually. It’s important to note that the ERISA fidelity bond is distinct from fiduciary liability insurance—it is a compliance requirement, not a discretionary safeguard.
While not required, fiduciary liability insurance is also available as an optional layer of protection. This coverage shields plan fiduciaries from personal liability in the event of claims alleging breaches of fiduciary duty, such as administrative errors, imprudent investments, or mismanagement of plan assets. Although ERISA does not mandate fiduciary insurance, many plan sponsors choose to carry this coverage to mitigate risk in today’s regulatory environment.
At RBS, we can assist plan sponsors in meeting their bonding obligations. We partner with Colonial Surety Company, a leading provider of ERISA fidelity bonds. If you need to obtain a new bond or update an existing one, we can handle the application process on your behalf. Alternatively, you are welcome to secure a bond through your existing property and casualty (P&C) insurance agent.
Distribution and Loan Services
Whether due to termination of employment, financial hardship, or eligibility for a loan—it’s critical that distributions are processed accurately, efficiently, and in compliance with plan and IRS regulations. At RBS, we manage every step of this process to ensure participants receive timely service while the plan remains in full compliance with applicable rules.
Our distribution services include the review and processing of all participant requests for withdrawals. We confirm participant eligibility, verify documentation requirements, ensure that distributions are processed accurately and in accordance with IRS guidelines and plan provisions.
We also oversee participant loan administration, ensuring the loan process is consistent with the plan document provisions and that amortization schedules and default monitoring are maintained in accordance with Department of Labor expectations.
What sets RBS apart is our commitment to responsive service. Our standard policy is to process all distribution and loan requests within 24 hours of receiving complete documentation. This fast turnaround not only supports participant satisfaction, but also reduces administrative delays and plan sponsor workload.
IRS & DOL Correction Program Assistance
Retirement plan compliance can be complex—and even the most diligent plan sponsors can occasionally encounter errors. It is important to address these issues promptly and properly to avoid potential penalties or disqualification of the plan.
At RBS, we specialize in helping plan sponsors navigate the Internal Revenue Service (IRS) and Department of Labor (DOL) correction programs. If you’ve discovered a plan error, you don’t have to face it alone—we’ll guide you through the correction process from start to finish.
We assist clients in using the Employee Plans Compliance Resolution System (EPCRS) and the Voluntary Fiduciary Correction Program (VFCP), which allow plan sponsors to correct a wide range of issues under IRS and DOL oversight. These programs are designed to encourage voluntary compliance by offering reduced penalties and a pathway to restore plan compliance in good faith.
Common corrections include:
Late or missed employee deferrals and loan repayments
Missed Form 5500 filings
Plan document restatements or updates
Failure to follow plan terms or improperly excluded employees
Allocation errors or incorrect distributions
Our team will assess the issue, prepare the necessary correction documentation, calculate and apply earnings as required, complete the appropriate government forms, and submit the filing on your behalf. We also communicate with the IRS or DOL as needed and ensure that all documentation is organized and retained properly for audit purposes.
RBS understands how stressful plan errors can be—our goal is to take that burden off your shoulders. We work efficiently to resolve issues in accordance with regulatory guidelines, and we’ll keep you informed every step of the way. While these correction programs may involve filing or user fees, our guidance ensures that the process is handled accurately and with minimal disruption to your plan operations.
Independent Audits for Large Retirement Plans
For certain large retirement plans, an annual independent audit is required as part of the Form 5500 filing process. These audits are a critical part of maintaining compliance and transparency, but they can also be time-consuming for plan sponsors without dedicated support.
At RBS, we provide expert audit assistance to help you navigate this process with confidence. Our experienced team works directly with your independent auditors to furnish all required plan-level data, trust accounting reports, year-end testing results, and documentation. We serve as a liaison between the auditor and the plan sponsor, streamlining communication and resolving issues proactively to keep the audit on track and on time.
Our goal is to reduce your administrative burden, eliminate guesswork, and ensure that your plan remains compliant, well-documented, and audit-ready each year.
IRS and DOL Audit Support
While most plans won’t face a regulatory review, any plan—regardless of size—can be selected for an audit by the IRS or Department of Labor (DOL). These audits may be triggered by specific issues or occur as part of a random selection process. Either way, they can be stressful, especially for plan sponsors unfamiliar with the process.
RBS is here to support you through it all. If your plan is selected for an IRS or DOL audit, our knowledgeable team can act as your primary point of contact, relieving you of the day-to-day communications and document gathering. We will organize the required materials, coordinate formal responses, and communicate directly with the agency to ensure that your interests are protected and that the audit proceeds as smoothly as possible.
From initial contact through final resolution, we offer hands-on guidance and technical insight—so you feel confident, informed, and supported every step of the way.
Required Employee Communications
Effective employee communication is essential to the success of any retirement plan. Informed participants are more likely to engage with and benefit from the plan—and maintaining proper communication is also a legal requirement. The IRS and DOL mandate that plan sponsors provide a range of participant disclosures on both an annual and as-needed basis to ensure transparency, compliance, and fiduciary accountability. RBS prepares these required notices on your behalf, ready for your distribution to plan participants, helping you stay compliant and easing your administrative workload.
RBS serves as your partner in regulatory compliance —helping your employees stay informed while supporting your responsibilities as a fiduciary.
Ad Hoc Services & Hands-On Support
At RBS, we go beyond standard administration—we believe in being a true partner to every plan sponsor we serve. In addition to our core retirement plan services, we offer ad hoc support tailored to the unique and evolving needs of your business. Whether it’s addressing an unexpected plan issue, providing guidance through a complex regulatory update, or offering custom participant communication, our team is here to help—no call center queues, no one-size-fits-all approach.
What sets RBS apart is our commitment to responsive, relationship-driven service. We understand that every retirement plan comes with its own set of challenges, and when something arises that falls outside of routine services, you can rely on us to step in and offer solutions. We’ll discuss your situation, assess the scope of the request, and provide a clear plan of action along with any associated fees—always with transparency and your best interest in mind.
Think of RBS as your retirement plan partner, not just your service provider. When you need a little extra support, we’re here to help—with a proactive mindset, technical expertise, and a dedication to making your job easier.
Explore Our Plan Types
Discover how we can help optimize your retirement plan strategy. Serving businesses across Virginia and the Mid-Atlantic.
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Voya Financial
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American Funds from Capital Group
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John Hancock