DMJ Services

We deliver each of our services through a team of financial professionals who adhere to the highest standards of our industry. And when you become a DMJ client, everyone on our team works for you.

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DMJ Services

We deliver each of our services through a team of financial professionals who adhere to the highest standards of our industry. And when you become a DMJ client, everyone on our team works for you.

Employee Benefit Plan Services

Commitment to Employee Benefit Plan Services

Employment Benefit Plan Services include the administration and government reporting for a variety of plans, as well as performing ERISA audits of the plan′s financial statements and Form 5500, if required. Administration includes the discrimination testing for the plan required by the regulations. We do not provide plan documents or direct plan investments. We do, however, maintain a close business relationship with a local attorney who is skilled in the field of employee benefits. Together, we can service clients with plan selection, design, administration, and reporting.

Tax and Legal Considerations

All retirement plans and certain health and welfare plans are subject to the Employees Retirement Income Security Act of 1974 (ERISA), also known as ″every ridiculous idea since Adam.“ This derogatory nickname indicates the frustration most practitioners feel in dealing with the myriad requirements for plan qualifications and reporting. The IRS and the Department of Labor work together to monitor and police the majority of employee benefit plans. ERISA has been amended by several tax laws, including TEFRA, DEFRA, REA, and TRA86, among others.

Sometimes There Are Problems

When an employer adopts an employee benefit plan, he sometimes gets more than he bargained for. In addition to providing tax-deferred benefits to employees and reaping improved morale and loyalty, other results may occur. Sometimes an insurance company sells a plan and does not mention the requirements for regular plan administration and government reporting. Sometimes your favorite broker establishes a plan and concentrates on the performance of your investments more than the qualification issues of the plan. DMJ recognizes the knowledge of insurance agents and investment brokers in their respective fields, but just as you would not request medical advice from your accountant, DMJ urges you to contact us for tax and reporting guidance.

DMJ provides the following Employee Benefit Plan Services.

Retirement Plans:

  • Profit Sharing Plans
  • Money Purchase Pension Plan
  • Employee Stock Ownership Plans
  • Age-Weighted Plans
  • 401(k) Plans

Welfare Plans:

  • Health Care Plans
  • Cafeteria Plans
  • Disability Plans
  • Dependent Care Plans