Proven Experience
- One year after Congress created a formal legal status for Employee Stock Ownership Plans (ESOPs) under the Employee Retirement Income Security Act of 1974 (ERISA), Rainer K. Schaaf founded R.K. SCHAAF ASSOCIATES, INC. (RKS) to service the consulting and administrative needs of ESOP-owned companies across the nation. RKS has been providing ESOP recordkeeping services for 35 years and 401(k) administration for 15 years.
RKS is proud to be considered one of the leading experts in the ESOP administration field. Our client base is nation-wide, from Hawaii to Vermont, and clients range in size from as few as 10 participants to as large as 3,000 participants.
Although we do not design, draft or file ESOP documents, we are available to work with the client and their attorney to aid in the design of a plan document that suits the client’s needs and is administratively sound. ERISA attorneys advise their clients of changes in the law or necessary amendments to their plan. However, we do provide updates and information regarding applicable law changes when they impact or affect the operation of qualified retirement plans.
Our report and statement formats are easy to read and understand. Whenever a client requires assistance with any of the documents we prepare, we are available to work with clients to ensure complete understanding. Because we write our own computer programs, we can design report and statement formats to suit a client’s needs.
Because a majority of our clients have come to us from referrals we like to think that our best marketing tool is the quality of service we provide. A thorough knowledge of the requirements, especially in the case of ESOPs, is a vital necessity given the complex laws and regulations.
In addition to providing comprehensive administrative and consulting services to our ESOP clients, we also provide on-line access to both the Plan Sponsor and the employee owners, employee communication services and in-house repurchase liability studies. We also provide our ESOP clients with the same quality of service for their other defined contribution plans, including testing and reporting requirements of 401(k) plans. For our clients with 401(k) plans not administered by RKS, we will establish a working relationship with their 401(k) administrator to ensure that all compliance testing is met.
Our mission is to provide clients with expert advice and the highest quality of service. Our strength is our commitment to excellence. Our success is the result of our integrity.
Firm Credentials
RKS is a member of The ESOP Association (TEA), The National Center for Employee Ownership (NCEO), The National Institute of Pension Administrators (NIPA), American Society of Pension Professionals & Actuaries (ASPPA), The California/Western States Chapter of TEA and the Los Angeles Chapter of NIPA. We are proud of our associates who sit on the Administrative Committee of TEA, the Steering Committee of the California/Western States Chapter of TEA and the Board of the Los Angeles Chapter of NIPA.
Our goal is to keep your ESOP in total compliance. We maintain a complete online reference library to ensure we have access to the most updated information available.