Partners in Your Success
For more than 50 years, First Actuarial Corporation has helped small and medium-sized businesses design and administer retirement plans that attract talent and maximize tax efficiency. We handle the time-consuming plan administration, so you can focus on growing your business and meeting your retirement goals.
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Ready to offer competitive benefits without the complexity?
50 +
Years Of Experience
4500 +
Retirement Plans Administered
1500 +
Businesses Served
500 +
Satisfied Clients
Partners in Your Success for More Than 50 Years
We specialize exclusively in benefit plan design and administration for small to medium-sized businesses. Our team handles the time-consuming plan administration, allowing you to focus on your goals while we deliver customized, efficient, and affordable retirement solutions.
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Nearly 50 Years ExperienceOur Plans
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Defined Benefit Plans
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Defined Contribution Plans
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Profit Sharing Plans
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401(k) Plans
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Money Purchase Pension Plans
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New Comparability Plans
Defined Benefit Plans
A defined benefit plan promises a specified monthly benefit at retirement. The plan may state this promised benefit as an exact dollar amount, such as $1000 per month at retirement or, more commonly, it may calculate its benefit through a plan formula that considers such factors as salary and service. Employer contributions are actuarially determined, and the benefits in most traditional defined benefit plans are protected, within certain limitations, by federal insurance provided by the Pension Benefit Guaranty Corporation (PBGC).
Fully Insured Defined Benefit Plans: A fully insured defined benefit plan is funded with a combination of insurance and annuity products. Therefore, the benefits are guaranteed by an insurance company. It is the safest and most secure plan and offers the largest tax-deductible contribution of all qualified retirement plans. This plan is the perfect solution for clients who desire conservative investment strategies, as it avoids any risk of market exposure and insures that they will have a sufficient pool of assets to provide the promised benefits at retirement. Depending on age and service, an employer's contributions can exceed $300,000 annually.
Defined Contribution Plans
A defined contribution plan defines the contribution the company will make to the plan and how the contribution will be allocated among the eligible employees. Separate account balances are maintained for each employee. The employee's account grows through employer contributions, investment earnings and in some cases forfeitures. Some plans may also permit employees to make contributions on a before-and/or after-tax basis. Since the contributions, investment results and forfeiture allocations vary year by year, the ultimate retirement benefit cannot be predicted.
The maximum annual amount that may be credited to an employee's account (taking into consideration all defined contribution plans sponsored by the employer) is limited to the lesser of 100% of compensation or $66,000.
Profit Sharing Plans
A Profit Sharing Plan is a retirement arrangement in which the company may make a discretionary contribution each year. This makes a profit sharing plan one of the most flexible qualified plans available. Each year the employer decides the amount, if any, to be contributed to the plan. These contributions are invested in a tax-deferred, creditor-protected trust. Tax-free earnings accumulate until the eventual distribution to participants or their beneficiaries. This payout usually occurs at retirement or some other specified event (disability, death or termination of employment). Contributions are normally keyed to yearly profits, although profits are not required for a contribution to be made. Retirement benefits paid to employees are based on the amount in the participant's account at retirement. For tax deduction purposes, the company contribution cannot exceed 25% of the total compensation of all eligible employees.
401(k) Plans
More and more employees perceive 401(k) plans as a valuable benefit, which have made them the most popular retirement plans today. Employees can benefit from a 401(k) plan even if the employer makes no contribution. Employees voluntarily elect to make pre-tax contributions through payroll deductions up to an annual maximum limit of $22,500. Employees age 50 and older are also able to defer a "catch-up" contribution. The current catch-up contribution amount is $7,500. Often the employer will match some portion of the amount deferred by the employee to encourage greater employee participation. Since a 401(k) plan is a type of profit sharing plan, profit sharing contributions may be made in addition to or instead of matching contributions.
Money Purchase Pension Plans
A money purchase pension plan operates like a profit sharing plan. The major difference is that, unlike profit sharing plans, where employers are permitted to make discretionary contributions each year, with a money purchase pension plan, the employer has a set contribution rate which is stated in the plan document when the plan is set up. These mandatory contributions must be made each year regardless of the employer's profits. Failure to make a contribution can result in the imposition of penalties. Contributions are generally based on a fixed percentage of each employee's compensation.
New Comparability Plans
These plans, sometimes referred to as cross-tested plans, are profit sharing or money purchase pension plans (defined contribution plans) that are tested for nondiscrimination as though they were defined benefit plans. New comparability plans are generally utilized by small businesses that want to maximize contributions to owners and higher paid employees while minimizing those for all other employees. The employees can be separated into two or more identifiable groups such as owners and non-owners and each group may receive a different contribution percentage. The plan must still satisfy the nondiscrimination requirements.
FAC Administration Services Include:
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Allocation of contributions and record keeping for defined contribution and 401(k) plans
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Certified actuarial valuation of plan benefits and liability for defined benefit plans
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Preparation and filing of necessary IRS, PBGC and Department of Labor forms and response inquiries
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Funding strategies-the evaluation and placement of investments, insurance, and annuity contracts
Retirement Planning Resources
Explore our Retirement Planning Resources for expert insights, strategies, and real-world guidance to help you build smarter retirement plans. From in-depth blogs and podcasts to case studies and industry updates, access the tools and knowledge you need to optimize plan design, improve compliance, and drive better outcomes for your business.
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Generational Shifts in Retirement Planning
Exploring the history, structure, and benefits of retirement plan types, and what drives Baby Boomers, Gen X, Millennials, and Gen Z to prefer one over the
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How SECURE 2.0 Enhances Retirement Plan Security
Key Changes for 2025: Catch-Up Contributions, Automatic Enrollment, and Expanded Eligibility SECURE 2.0: A Game-Changer for Retirement Plans Described as the
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Case Study
ABC Pools and Spas, a small business with a vision for the well-being and financial security of its employees, aimed to enhance its retirement benefits through a profit-sharing 401(k) plan.
Read MoreYour Retirement Plan Questions Answered
We know benefit plan administration can feel complex. That's why we've answered the most common questions from business owners like you—covering plan design, tax advantages, compliance requirements, and how we simplify the process. Our goal is to give you the clarity you need to make confident decisions about your company's retirement program.
What types of retirement plans do you offer?
We design and administer a full range of qualified retirement plans for small to mid-sized employers, including 401(k), Profit Sharing, Defined Benefit, Money Purchase Pension, and New Comparability Plans. Each plan is customized to your business goals, budget, and workforce—ensuring you maximize tax advantages while attracting and retaining talent.
How does FAC simplify plan administration?
We handle all time-consuming plan administration tasks—compliance testing, Form 5500 filing, plan document management, and day-to-day support—so you don't have to. Our team ensures your plan stays compliant with IRS and DOL regulations, freeing you to focus on running your business while we manage the complexity.
What are the tax benefits of a qualified retirement plan?
Qualified plans offer significant tax advantages: employer contributions are fully tax-deductible, plan earnings grow tax-free until distribution, and employees can contribute on a pre-tax basis, reducing their taxable income. These benefits make retirement plans one of the most cost-effective tools for attracting talent and building long-term savings.
How long does it take to set up a new plan?
Setup timelines vary based on plan complexity, but most plans can be designed, documented, and implemented within 4 to 8 weeks. We guide you through every step—from initial design and IRS submission to employee enrollment and ongoing administration—ensuring a smooth, efficient launch with no surprises.
What makes FAC different from other providers?
We've specialized exclusively in benefit plan design and administration for nearly 50 years, focusing on small to mid-sized businesses. As part of RMC Group, we offer a full national network of actuaries, consultants, and advisors—delivering customized, affordable solutions backed by deep expertise and personalized service you can trust.
How can I access the secure portal?
We're Here to Support Your Success in Retirement
Have questions about your retirement plan options or need guidance on the right benefit strategy?