TSC is one of the oldest and largest retirement plan third party administration firms in the Upper Midwest. Founded in 1966 by Ted Giannobile, in the early years Tax Sheltered Compensation (TSC) sold and serviced "Keogh, " Profit Sharing, and Defined Benefit Plans with Ted and just one additional employee.
The primary service was consulting and advising on tax deductions available to small businesses. In 1977 TSC added an in-house ERISA Attorney to draft plan documents, provide compliance services, and work on plan administration. Ten years later TSC acquired John G. Mutschler & Associates. In 1991, Retirement Data Services was acquired, followed by CFS in 1995.
The primary service was consulting and advising on tax deductions available to small businesses. In 1977 TSC added an in-house ERISA Attorney to draft plan documents, provide compliance services, and work on plan administration. Ten years later TSC acquired John G. Mutschler & Associates. In 1991, Retirement Data Services was acquired, followed by CFS in 1995.
Services
These plans are the most popular form of retirement plan. In addition to employee elective deferral contributions, 401(k) plans usually include employer profit sharing contribution features. These plans can be customized for the specific needs of each employer. Most often profit sharing plans are combined with a 401(k) plan, as described above.
As a condition for receiving favorable tax treatment, employers sponsoring retirement plans must establish that the plan does not disproportionately benefit owners and other highly-compensated employees.
Not only does TSC perform all of the tests needed to demonstrate that the plan benefits an acceptable cross section of employees and is entitled to tax-advantaged treatment, we also make sure that contributions to the plan are fully optimized based on the client's needs and goals.Most plans are required to file an annual report with either the Internal Revenue Service (IRS) or the Department of Labor (DOL).
Not only does TSC perform all of the tests needed to demonstrate that the plan benefits an acceptable cross section of employees and is entitled to tax-advantaged treatment, we also make sure that contributions to the plan are fully optimized based on the client's needs and goals.Most plans are required to file an annual report with either the Internal Revenue Service (IRS) or the Department of Labor (DOL).
A successful retirement plan can help attract and retain great employees and promote retirement readiness while at the same time offering substantial tax benefits for employers. At TSC we believe that for a plan to be truly successful, it must meet the unique needs and goals of each client.
While a one-size-fits-all approach to retirement plans might be easy for service providers, it is rarely in the best interest of employers and their employees.By learning about the employee demographics, business and personal goals, financial resources, and tax objectives each client, we are able to offer a customized plan that is specifically designed to meet the client's needs and goals.
While a one-size-fits-all approach to retirement plans might be easy for service providers, it is rarely in the best interest of employers and their employees.By learning about the employee demographics, business and personal goals, financial resources, and tax objectives each client, we are able to offer a customized plan that is specifically designed to meet the client's needs and goals.
TSC focuses on what we do best - providing expert plan administration, compliance, and consulting services. This means that we do not provide investments or investment services. However, by working with the best investment professionals and advisors we can be confident that our clients receive the most comprehensive retirement plan support available.
TSC offers several payroll data support solutions that can be designed to meet each employer's specific needs. Whether it is through PaySmart by TSC payroll data support services or through our Payroll Integration Solutions, our goal is to help clients save time and simplify plan administration. PaySmart by TSC helps employers deal with data sharing challenges among their payroll and retirement plan service providers.
Reviews (6)
Gary Hager
Feb 05, 2022
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Marianne Witkowski
Feb 03, 2021
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I live in Buffalo, NY. called this company approximately at 9:15am EST. Operator stated they only just opened and not everyone was there. Had to attempt to try to get ahold of someone to speak to regarding receiving paperwork to get my cash out paymemt if any available. 2 people only voicemail, 3rd could NOT help. Operatore very unprofessional about my call to speak with someone regarding how and what to do with paperwork.
Joe Rapacki Jr
Nov 28, 2019
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Charlie Steingas
Sep 14, 2019
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Debra Knight
Jul 22, 2019
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As a satisfied TSC Client, I could write a thousand words on what their company has provided me over the past 20+ years. Their expertise has allowed me to be a more effective business Owner and the ability to offer my employees a 401K plan at a reasonable cost.
Their company has taken the time and extra effort to educate myself/staff both personally and via e-mail. Matt, Dennis and the team have provided exceptionally customer service and expertise. Thank you!
Their company has taken the time and extra effort to educate myself/staff both personally and via e-mail. Matt, Dennis and the team have provided exceptionally customer service and expertise. Thank you!
Paul N.
Oct 26, 2018
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