The Department of Labor’s recent MEP Rule is making it easier for businesses who are members of bonafide associations to join in a multiple-employer 401(k) plan. By participating in these plans, small and mid-size employers can access the scale needed to bring down costs for employers and employees potentially leading to greater growth in their retirement assets over time.
- Low all-inclusive per participant fee for recordkeeping and administration services
- Flexible Plan Design
- Profit-Sharing / Cash Balance allocation options
- No audit requirement, or annual 5500 filings for individual plans
- 3(16) plan Administration Fiduciary Services
- Pensionmark 3(38) Investment Fiduciary Services
- SMARTMap Foundational Planning for Employees
- iJoin ENROLL enrollment experience
- Statements and Notices included
- Online loans and distributions
- Payroll Integration with top payroll vendors
BENEFITS OF ARP 401K PLANS
• A recruiting edge — in today’s tight labor market, offering a 401(K) plan may make employers more attractive to potential employees.
• Lower potential costs — both employees and employers may realize savings due to being able to access the necessary scale to bring down the administrative costs of the plan.
• Access to stronger plans — a larger pool provides
access to low-cost institutional level investment options that may not be available in single plans for small and mid-size employers.
• Similar benefits to the ‘big guys’ — Employers will now have access to the same technology and fiduciary oversite that was typically only offered to larger employer plans.
For more information please reach out to Sean O’Flaherty at Office: 208-939-0233, Ext. 101, or Cell: 208-949-1294, or Email: email@example.com.