401(k) Retirement Plans
Reduce Administrative and Fiduciary Responsibilities of 401(k) Plans
Offering accessible retirement benefits that promote financial well-being is a powerful way to attract and retain top talent, while potentially reducing your administrative and fiduciary duties.
Support for Your Plan Option
Every business is unique, and so are its retirement plan needs. Whether you’re considering your own plan, a MEP (Multiple Employer Plan), or a PEP (Pooled Employer Plan), our experienced team can support you.
Reduced Fiduciary and Administrative Responsibility
Choosing a MEP or PEP can simplify retirement plan management by providing guidance and support with compliance and regulatory requirements, reducing administrative burden and risk.
Payroll Integration
Integration can help ease the administrative burden by simplifying tasks such as managing deferral changes, loan setups, hardship withdrawals, and contribution remittance. With the MEP option, payroll integration is built in. Contact us for an evaluation to determine if payroll integration is available for PEPs or your standalone plan.
Breadth of Investment Options
AlphaStaffHCM’s Multiple Employer Plan (MEP) offers over 25 investment options, with additional customizable features to fit your needs, including eligibility and plan entry, matching and profit sharing, Safe Harbor options, year-end allocations, and vesting schedules.
Read about additional Employee Benefit Solutions.
Reduce Administrative and Fiduciary Responsibilities of 401(k) Plans
We sponsor our multiple-employer plan (MEP), which offers over twenty-five 401(k) investment options. Employees can easily contribute to their retirement accounts, with access to premier fund families.
Advantages include:
- 360 payroll integration
- Reduced fiduciary responsibility
- No employer costs
- Flexible plan design options
- 401(k) call center and web resources for participants
- Many investment options, plus self-directed brokerage options
- “Safe Harbor” options
- Discretionary contribution options, including eligibility and plan entry, matching and profit sharing, Safe Harbor options, year-end allocations, and vesting schedules.
As a multiple employer plan sponsor, AlphaStaffHCM is responsible for the fiduciary duties and plan administration, including payroll reconciliations, compliance testing, 5500 filing, independent audits, annual plan notices, employee communications and enrollments, quarterly investment performance reviews and many other human resource duties that reduce your costs and lower your administrative burden.
Third-Party Sponsored Pooled Employer Plans (PEP)
The SECURE Act of 2019 has led to the availability of “pooled employer” plans that allow multiple, unrelated employers to participate in a shared retirement plan. Benefits of a pooled employer plan include:
- Potentially lower your fiduciary liability
- Offloading of day-to-day administrative tasks related to the 401(k) plan
- Potential Cost Savings for your Participants
- Flexible plan design – Including safe harbor and non-safe harbor options
- Low-cost investment options from premier fund families
- Relief from Form 5500 filing
AlphaStaffHCM can introduce you to a pooled plan provider that has 360 payroll integration with AlphaStaffHCM’s payroll processing system or work with your own preferred pooled plan provider to support and streamline the administration of your preferred plan.
Keep Your Plan
If you’re satisfied with your current retirement plan and want to keep it, you absolutely can. Connect with our experienced team to explore how we can support your existing plan.