No Fees 401(k) has an interactive, live demo so you can experience how easy it is to control the 401(k) for plan sponsors and participants alike. Call us at (800) 660-0050 and request a link to the online demo. No obligation. No sales pitch. We promise.
No Fees 401(k)'s experienced staff of 401(k) professionals guides the employer in designing a custom 401(k) plan based upon our IRS-approved 401(k) prototype. The No Fees 401(k) prototype is fully supported and kept up-to-date to conform to ever-changing IRS and ERISA rules and regulations. 401(k) prototype options can be changed by the company when its needs change; the company is never locked into a rigid plan.
No Fees 401(k) is provided by Pension Systems Corporation, a 401(k) recordkeeper with over 30 years of professional experience setting up and maintaining 401(k) plans for small (and micro-sized) businesses. Our experienced staff will quickly set up a new 401(k) and assist the Plan Sponsor in setting-up up its connection to the brokerage of its choice.
No Fees 401(k) provides the Plan Sponsor with ongoing telephone and email support during regular business hours (EST).
No Fees 401(k) provides the Plan Sponsor with 24/7, real-time, online ADP and ACP compliance, 401(k) plan coverage, and top-heavy testing at the click of a mouse. If a test failure emerges, the Plan Sponsor can contact No Fees 401(k) for guidance and support.
No Fees 401(k) Plan Participants use a secure, password-protected ‘gateway’ to access and manage their 401(k)s. 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 401(k), including control of 401(k) plan assets held in custody, downloadable auditing, and accounting reports, and running 401(k) compliance, coverage, and top-heavy tests at the click of a mouse.
No Fees 401(k) offers the small business owner their selection of self-directed brokerage accounts from top firms such as Charles Schwab, Scottrade, E*Trade, Fidelity Investments, and Vanguard Investments, among others. Several brokerages offer commission-free stock, bond trading, and commission-free access to thousands of no-load mutual funds, including the most popular Fidelity Funds and Vanguard Funds.
If a 401(k) Participant terminates employment, their 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 401(k) users because it maintains the Participant's current 401(k) investment options and protects the Participant's 401(k) retirement savings from state and federal taxes.
The Plan Sponsor quickly and easily uploads payroll and 401(k) contribution information to No Fees 401(k) and authorizes the transfer of the contributions to Participants' individual self-directed brokerage accounts.
An employer can set up the No Fees 401(k) to bypass the uploading payroll information and instead allows the Plan Sponsor to send printed purchase orders and checks directly to the self-directed brokerage.
No Fees 401(k) makes available online applications that provide high-caliber investment education and guidance in making investment selections. These applications are a valuable free service provided by whichever brokerage the employer selects for the company's No Fee 401(k).
No Fees 401(k) protects the employer from ERISA 3(16) liability in the two primary areas where 401(k)-related lawsuits emanate. To eliminate the first potential problem, No Fees 401(k) does not deduct or skim fees from participants' accounts. To eliminate the second most common problem, No Fees 401(k) uses self-directed brokerage accounts which offer unlimited investment options not pre-selected by the employer.
The federal government will, in most cases, subsidize 50% of the No Fees 401(k)'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 401(k) for set-up and annual fees for years 1, 2, 3, and possibly 4. The maximum tax credit is $5,000 per year.
Payroll integration with all 'third-party' payroll providers is available through 401(k) Easy, our upgraded 401(k) service. Please go to https://www.401keasy.com for specifics.