National Benefit Services, LLC
FIRM INFORMATION 8523 South Redwood Road, West Jordan, UT 84088
Andy Lovell, (801) 532-4000, andyl@nbsbenefits.com
nbsbenefits.com/BUSINESS PROFILEYear established:
1986National or local TPA:
NationalAre you a producing TPA or a 'non-producing TPA'?
Non-producingDC recordkeeping platform:
No (use partner providers' platforms)NUMBER OF PERSONNEL SERVING RETIREMENT PLANSSenior management:
0Other managers/administrators:
16Actuaries:
0Sales staff:
4Support staff:
38RETIREMENT PLAN PROFILERetirement plan assets under administration:
3,323,000,000Total number of retirement plans under administration:
3,227Total number of retirement plan participants under administration:
143,500NUMBER OF PLANS BY TYPE401(k):
403(b):
457:
Nonqualified Deferred Compensation:
Other DC:
Defined Benefit/Cash Balance/Hybrid:
FEE STRUCTURESFixed fee:
Fixed fee dependent on services chosenPer participant fee:
YesBasis points on assets:
YesOther:
Fees offset by revenue sharing agreements?
No State(s) where offices are located:
Utah (UT)PLAN ASSET SIZES SERVED<$1 million:
Yes$1 million - $5 million:
Yes>$5 million - $10 million:
Yes>$10 million - $25 million:
Yes>$25 million - $50 million:
Yes>$50 million - $100 million:
Yes>$100 million - $200 million:
Yes>$200 million - $500 million:
Yes>$500 million - $1 billion:
Yes>$1 billion:
NoRECORDKEEPING RELATIONSHIPSNumber of recordkeepers with DC selling agreements:
23Number of recordkeepers with DC assets:
23Number of recordkeepers where new plans placed:
16FIDUCIARY SERVICESPlan level 3(16) services:
NoPlan level 3(38) services:
NoParticipant level fiduciary services:
NoPRODUCTS/SERVICES OFFERED TO ADVISERS AND/OR PLANSCompliance support:
YesPlan benchmarking:
YesTarget-date evaluation tools:
NoInvestment committee meetings:
NoDesign/amend DC plan documents:
YesDesign/amend DB plan documents:
YesRecordkeeper transitions:
NoPrepare benefit statements:
YesProcess plan distributions:
YesPrepare loan paperwork:
YesNon-discrimination testing:
YesAllocation of contributions/forfeitures:
YesCalculate participant vesting %:
YesActuarial calculations & support:
NoForm 5500 preparation:
YesForm 5500 signing:
NoPlan audit support:
YesQDRO review:
YesSmall rollover IRA processing:
YesProvide fiduciary education:
NoAnnual 408(b)(2) assessment of fees:
NoInvestment selection services:
NoInvestment monitoring:
NoPRODUCTS/SERVICES OFFERED TO PLAN PARTICIPANTSEnrollment meetings (at time of hire):
NoRe-Enrollment meetings (after hire):
NoOne-on-one meetings with participants:
NoRollover assistance (into plan):
NoDistribution assistance (upon separation):
YesRetirement income planning:
NoFinancial/debt counseling:
NoEstate/tax planning:
NoAuthorize participant requests:
YesPrepare/deliver required participant notices:
Yes