About Our Services

Downeast Pension Services, Inc. is a third party administrator for company sponsored retirement plans, specializing in the defined contribution area. We have serviced accounts in Maine and New Hampshire since 1992.

We provide plan design, consulting, plan documents, valuations, compliance testing, contribution calculations, and complete administration, including form 5500 preparation. Also, as we are not licensed to sell investment product, we offer independent advice to our clients with regard to investment strategies and platforms.

These are the several types of plans that we service:

  • Daily valuation arrangements
  • Self-directed account arrangements
  • Balance forward arrangements
  • Pooled mutual fund accounts
  • All types of 401(k) plan designs, including Safe Harbor Plans
  • Profit Sharing Plans
  • Cross-tested or New Comparability plan designs
  • Money Purchase Pension Plans
  • 403(b) Plans

We work closely with our clients, their investment advisors and their accountants to provide the quality type of work that is expected from our clients. We currently have 25 employees and service close to 800 plans.

What Sets Our Firm Apart

Downeast Pension Services, Inc. strives to provide the highest quality local service to our clients, understanding that each client has its own unique set of circumstances. We are independent of investment product sales, thereby offering objective advice.

We understand our role as a TPA and work hard at maintaining great rapport with both the investment advisor and accounting communities to better serve our clients.

Regarding “quality”, we employ a strict review process with independent checks and balances that has served us well over the years and set us apart from much of our competition.

Among the 25 members of our team, many of us are certified in the retirement plan area with CEBS, RPA, APA, QKA or ERPA designations. Our President is also a CPA.

We are seeing increasing competition from the large payroll companies that provide bundled plan administration services in conjunction with payroll. Although we have always known we provide greater personal service and expertise, please click on the link below to read an article written by a well-know ERISA attorney regarding this very subject.

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Why UnBundled? Why Downeast Pension Services?

1) Unlike bundled providers, we are independent of the investment product, and as such, are able to offer objective advice to our clients.

2) We are experts in retirement plan administration. Bundled providers typically offer administration as a means to gather assets. We do one thing: Retirement Plan administration for defined contribution plans. If we were not good at what we do, we wouldn't be in business. In a bundled environment, if the investments and record keeping are excellent, but the administration is horrible, the Plan Sponsor has to decide whether to keep the whole plan or get rid of the whole plan.

3) We have a peer review process that others don't have, which we believe reduces errors by over 95%.

4) We have CPA, CEBS, RPA, QKA and APA designations in the office and those who do not have a designation are enrolled in the RPA program.

5) We're local and insist on doing business only within car travel distance. We make house calls!

6) We're relationship oriented; your client will never go into a Call Center with us!

7) We employ a team approach, with a dedicated Account Executive and support staff. You will get to know who is servicing your plan.

8) We provide consulting, not just merely producing the required compliance testing. We work for the owners of our clients.

9) Unlike payroll providers and other bundled providers, we are accountable for the work we do and don't ask our clients to hold us harmless.

10) Unlike bundled providers, we routinely provide Profit Sharing and Other Contribution calculations, working with the client and their external CPA.

11) We have over 800 clients in Maine and New Hampshire, including 25 law firms, many CPA firms, trust departments, banks, and other high profile accounts.

12) We're bonded for professional liability and Errors & Omissions.

© 2017 Downeast Pension Services. Inc 41 Campus Drive, Suite 302 New Gloucester, ME 04260 Ph (207) 688-4219 Fax (207) 688-4095 [email protected]

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