Plan Administration

While the proper design of an executive benefit plan is extremely important, the implementation and annual administration of the plan are equally important. The Sheeter Group will work with you and your plan administrator as you implement recommendations provided by The Sheeter Group.

Plan Implementation

The Sheeter Group can refer its clients to Third-Party Administrators (TPAs) that specialize in implementing and administering executive benefit plans for credit unions. 

• The Sheeter Group can recommend attorneys that specialize in drafting executive benefit plan documents for credit unions to create your legal document that governs your plan.

Plan Administration

The Sheeter Group can refer a Third-Party Administrator (TPA) that specializes in administrating executive benefit plans for credit unions that should provide: 

• Monthly Asset Accounting for each plan participant
• Monthly Benefit Accounting for each plan participant
• Adjusting Entries for Plan Events such as: Death, Termination, Retirement, and Changes in Benefits
• Individual Retirement Plan Participant Statements reflecting the current benefit balances for each participant.

• Benefit Plan performance analysis
• Evaluating if the plan is achieving the original goals of the plan
• Changes in the executive’s and/or credit union’s situation