When considering a 401(k) plan, many employers often think the hassle of setup and administering a plan outweighs the benefits of offering a plan to their employees. This is a valid concern since 401(k) plans can be complex and most providers simply overwhelm their clients with details and options that carry hidden costs and fees. With our Slavic 401(k) plan, we offer an easy turnkey solution for employers to make purchasing a 401(k) plan simple and beneficial for employers.
We have a strategic partnership with Slavic 401(k) who specialize in working with multi-employer plans like Professional Employers (PEO’s). Employers Resource has enjoyed a long and successful partnership with the people at Slavic. We chose Slavic financial well before they become the standard in the 401(k) space and we plan to keep working with them for many years to come.
Business owners are proud to offer their employees Slavic 401(k) plans, and here are five reasons why.
5 Reasons Employers Love Our Slavic 401(k) Plans
1. What You See Is What You Get
Slavic plans have been transparent with no hidden fees since before it was a focus in the 401(k) space. Our participant fees are disclosed as a line item on the participant’s statement. Fees are not “hidden” in the investment returns.
12b-1 fees paid to Slavic 401(k) are credited back to the individual participants that own the fund. This enhances investment performance and ensures absolute objectivity in fund recommendations.
2. Complete Administration
If you’re looking for a way to offer a great 401(k) plan without the hassle, we’ve got you covered. Just one initial quick and easy plan design and set-up consultation and you’re off and running for years to come.
We handle all of the administration for you. We handle eligible participant notification, non-discrimination testing, loan and distribution processing, trustee services and a 5500 preparation is included as part of the Multiple Employer Plan.
For an overview of our plan, view our video: The Advantages of Multiple Employer 401(k) Plans
3. Plan Features
Even though we make it simple for the employer, our 401(k) plans are feature rich and offer the accessibility your employees will expect. You and your employees can track your activity, you can monitor employee participation, download reports and much more. Just login and create a user ID and you’re ready to go. With Sponsor Express you can have a monthly plan summary e-mailed to the sponsor.
4. Cost Savings
You will be saving money since there are no hidden fees and there is only a one-time setup fee of $400. And you save time by not adding another vendor you have to correspond with for your 401(k), just Employers Resource as your complete PEO solution provider.
5. Employee Recruiting and Retention
Adding our Slavic 401(k) plan to your employee benefits package is a great way to strengthen a weak benefits plan. You end up a hero for allowing your employees to have a great option for their retirement, and the cost to you is next to nothing!
Offering a 401(k) plan doesn’t have to be complex, confusing, and full of traps or hidden fees. With our Slavic 401(k) plan, we make it simple and transparent and simply take care of everything for you while you get to relax and enjoy offering it to your happy employees.