Administering a defined benefit or pension plan is a demanding task; one that can divert your time and resources if it is not done efficiently and effectively. That's why so many employers turn to HSBC to streamline the administration of their defined benefit or pension plans.
Comprehensive Support Services
HSBC can handle much of the plan's administration. We can track participant and retiree data for you, including plan information such as: status, service and earnings, and participant contact data. We can also handle all reporting details, make benefit payments to retirees and take care of all Federal, State and local withholding requirements. Also, we can act as the trustee or custodian of your plan. Further, we can take care of sending all required notices and communications directly to participants if you would like.
A Single, Accountable Source
When you choose HSBC to handle your defined benefit plan, you get complete accountability in one place. That is why all of the administrative services we offer are provided solely by our organization. None are outsourced to other firms, assuring you of the personal attention and high quality of service your plan needs and deserves.