Fastnet Corp.

R. P. Mills

Pension & Profit Sharing Plans The Vice president of Fastnet Corp. is Edwin Smith Business classifications
SIC (US 1987) : R. P. Mills Associates, Inc. was formed in Allentown Pennsylvania in 1961. It was owned and operated by Robert P. Mills until his death in 1969. The company was then purchased by Charles F. Haggerty and George R. Hood who were two of his employees at the time of his death. It was incorporated in the state of Pennsylvania on August 18, 1967. In 1988 George retired and Charles bought his shares of stock and became the sole owner. He continued to grow the business until he retired in 1998. At that time, Charles sold the business to Barry J. Andruscavage and Jan A. Burke who had both been employed for about 20 years. After another 17 years, Jan retired in 2017 at which time Barry became the sole owner of the corporation. The company still resides in Allentown as a small business and services retirement plans for companies within approximately a 50 mile radius. It started as a pension consulting firm and continues to perform Third Party Administration for several hundred retirement plans. Over the years, R. P. Mills has provided services to thousands of companies and had the opportunity to help people accumulate enough savings to retire with financial stability.
We attribute our success to providing the most complete, accurate, and personal service available. These qualities remain our top priority. As a modern company with old-fashioned values and service, we have hundreds of satisfied clients. We act as confidential consultants to industry in the design, installation, and administrative servicing of many types of retirement plans. The establishment and continued compliance of these plans is a complex and technical undertaking that requires the skill and assistance of a specialist. As independent consultants, we provide impartial information to our clients, allowing them to arrive at a decision that best fulfills their needs and desires.
Our clients are engaged in almost every type of business and organizational arrangement. The plan is established to provide incentives for the retention of valuable employees so they take a personal interest in the company’s success while the employer receives a tax deduction for employer contributions and administrative expenses. The plan also enables the owners and employees to benefit by a favorable tax status since contributions and investment gains are tax-deferred until withdrawn.
Upon receipt of factual data from the employer, the employer’s accountant, payroll service, investment manager, and other professional service providers associated with the employer, R. P. Mills Associates, Inc. prepares a comprehensive study that reflects the needs and objectives of the employer for their retirement needs. We then prepare and submit to the Internal Revenue Service the necessary forms required to obtain the plan’s approval. Upon receipt of Internal Revenue Service approval, we “install” the plan and communicate its provisions to all employees through on-site meetings and through Summary Plan Descriptions. Then, on an ongoing basis, we perform all the necessary testing, calculations, and updating that is required by the Internal Revenue Service and the Department of Labor, to provide continuing plan compliance.
Pensions management services