Your company can join our plan if you are an ALLPRO® member or supplier company
If you currently sponsor a 401(k) plan, you or members of your company are likely listed as named trustee, fiduciary, and plan administrator on your IRS 5500 filing. In this plan, we remove that burden and potential liability from you.
If your company has a 401(k) plan with over 100 eligible employees, you're paying for a costly annual audit. In this plan you will no longer bear that cost.
As a standalone 401(k) plan, your company will have to submit a 5500 filing to the Department of Labor every year. In this plan, that responsibility is removed as there is only one 5500 filing for the entire plan.
The size of our plan may allow for a higher level of attention than what you may experience from your provider. No matter the size of your plan, joining this plan increases simplicity for your company and can enjoy the advantages of a larger plan.
Each company in the plan has a unique plan design, with their own custom matching contributions and eligibility requirements. There are no amendment fees if your company ever needs to adjust the plan design.
In this plan you are giving up fiduciary responsibility as it relates to investments in the plan. A committee of your peers meet quarterly to oversee the plan and its investment choices.