About Us

The establishment and administration of a competitive designed Retirement Plan is perhaps more than any other concept. It combines current employer tax savings with retirement security for Participants. However, for a Plan to obtain and keep its qualified status the Plan Administrator must perform certain duties regulated by law. Failure to do so can result in Retirement Plan disqualification, which will mean a potentially substantial monetary penalty by corresponding Federal and local sectors.

The legal foundation for an accurate design, implementation, and annual administration of a Qualified Retirement Plan in Puerto Rico is found in various provisions of the Federal Internal Revenue Code, Department of Labor regulations and the local tax laws. This unique and complex intermingling of local and federal law mandates reliance on experienced professional advisors and retirement plan administrators in order to assure continued compliance with legislative and annual reporting requirements. Benefit Consulting Group of Puerto Rico has the expertise to provide the most comprehensive, definitive retirement plan administration, and consulting services available.

Whether a one-person business or a large enterprise with many employees, Benefit Consulting Group of Puerto Rico will analyze the situation and assess the plan sponsor’s objectives. We are available to meet with the plan sponsor and other professional advisors to gather the pertinent census and financial records. We then use this information to determine how best to maximize the retirement or profit-sharing plan.

At BCG we are proud to call ourselves as pioneers in the design of the Basic Safe Harbor Match formula, by a Private Letter Ruling with Puerto Rico Treasury Department. This design allows for a cash or deferred profit-sharing plan, to comply with non-discrimination testing, by adopting a safe harbor match formula based on the Section 401(k)(12) of the Internal Revenue Code and Notice 98-52 of the Internal Revenue Service.

The current legislative environment requires the cooperation of all of the plan sponsor’s professional advisors to assure continued regulatory compliance and satisfaction of the plan sponsor’s overall business objectives for plan establishment. Benefit Consulting Group of Puerto Rico is committed to this communication process, in part, by keeping the plan sponsor and advisors abreast of legislative and plan design developments that may have an impact on the plan sponsor’s plan and how to best develop strategies to address new developments.

Sandra Soto Carlo is our President since January 2004. Sandra is a business Administration Graduate from the University of Puerto Rico, with a major in Management, and a Master Degree in Industrial Management, from Interamerican University. She has been managing the company since 2001. Pension Administrator Certificated and currently seeking the Qualified Pension Administrator Designation from the American Society of Plan and Pension Administrators and an active member as well (ASPPA) since 2005. Mrs. Soto is one of the founders of the Association of Retirement Benefit Professionals of Puerto Rico (ARBPPR), and President of the Board until 2010. Also, Mrs. Soto has been recognized as a VIP and Honored Lifetime Member of Cambridge Who’s Who, a Registry of Executives, Professionals and Entrepreneurs.

Dedicated to the administration, recordkeeping, and reporting of our client’s plans.  All of our plan administrators are trained in the American Society of Pension Actuaries Plan Administrator Course.