No Fees 401k has an interactive, live demo so you can experience how easy it is to control the 401k for plan sponsors and plan participants. Simply call us at (800) 660-0050 and request a link to the online demo. No obligation. No sales pitch. We promise.
No Fees 401k’s experienced staff of 401k professionals guides the employer in designing a custom 401k plan based upon our IRS-approved 401k prototype. The No Fees 401k prototype is fully supported and kept up-to-date, to conform to ever-changing IRS and ERISA rules and regulations. 401k prototype options can be changed by the company when its needs change; the company is never locked-in to a rigid plan.
No Fees 401k is provided by Pension Systems Corporation, a 401k recordkeeper with over 30 years of professional experience setting up and maintaining 401k plans for small (and micro-sized) businesses. Our experienced staff will quickly set-up a new 401k and assist the Plan Sponsor in setting-up up its connection to the brokerage of its choice.
No Fees 401k provides the Plan Sponsor with ongoing telephone and email support during normal business hours (EST).
No Fees 401k provides the Plan Sponsor with real-time, online ADP and ACP compliance, 401k plan coverage, and top-heavy testing at the click of a mouse. If a test failure emerges, the Plan Sponsor can contact No Fees 401k for guidance and support.
No Fees 401k Plan Participants use a secure password-protected ‘gateway’ to access and manage their 401ks. Participants have comprehensive “self-directed” control over their investment selections plus access to downloadable statements and reports.
The Plan Sponsor has secure access to every aspect of the company’s 401k, including control of 401k plan assets held in custody, downloadable auditing and accounting reports, and running 401k compliance, coverage and top-heavy tests at the click of a mouse.
No Fees 401k offers the small business owner his or her selection of self-directed brokerage accounts from top firms as Charles Schwab, Scottrade, E*Trade, Fidelity Investments, and Vanguard Investments. Most brokerages offer commission-free stock and bond trading and commission-free access thousands of no-load mutual funds, including the most popular Fidelity Funds and Vanguard Funds.
If a 401k Participant terminates employment, his or her self-directed brokerage can be quickly and easily converted to an IRA Rollover held at the same brokerage. This feature is popular with No Fees 401k users because it maintains the Participant's current 401k investment options and protects the Participant’s 401k retirement savings from state and federal taxes.
The Plan Sponsor quickly and easily uploads payroll and 401k contribution information to No Fees 401k, and at his or her convenience, authorizes the transfer of the contributions to Participants’ individual self-directed brokerage accounts.
Employer has the option of setting up the No Fees 401k in a way that bypasses the uploading payroll information, and instead allows the Plan Sponsor to send printed purchase orders and checks directly to the self-directed brokerage. Employers who do not select Charles Schwab as their self-directed brokerage are required to use this option.
No Fees 401k makes available online applications that provide high-caliber investment education and guidance in making 401k investment selections. These applications are a valuable free service provided by whichever brokerage the employer selects for the company's 401k.
No Fees 401k protects the employer from ERISA 3(16) liability in the two areas where 401k-related lawsuits emanate. No Fees 401k does not deduct or skim fees from participants' accounts. No Fees 401k uses self-directed brokerage accounts which offer unlimited investment options not pre-selected by the employer.
The government will, in most cases, subsidize 50% of the No Fees 401k's startup and annual renewal costs depending on the size of your plan and its features. This tax credit applies to all fees paid to No Fees 401k for set-up and annual fees for years 1, 2, and 3. The maximum tax credit is $5,000 per year---after three years, it totals $15,000 in business tax credits.
Payroll integration with all ‘third-party’ payroll providers is available through 401k Easy, our upgraded 401k service. Please go to https://www.401keasy.com for specifics.