5771 South Fort Apache Road
The Group Retirement Program is a Multiple Employer Plan (MEP) meant to help small business group together to have access to more affordable and robust 401(k) investment options.
A company joins their 401(k) plan with those of other companies to form a much larger plan. Professional administrators then oversee the plan and accept legal responsibility and accountability for doing so, which means your name comes off the Master plan document.
1. No plan audit fee to the employer2. Negotiated group pricing 3. No start-up fee to the employer 4. No document fee to the employer 5. No annual 5500 filing fee to the employer 6. No required ERISA Bond 7. Investments are monitored and replaced if required; quarterly 8. Employees' education and tools given for financial literacy and saving success. 9. Custom plan design 10. Reduce employer fiduciary liability 11. Plan price comparison at no charge 12. Employer contributions and expenses are tax-deductible. See your tax professional.
A group plan allows plan management to be streamlined by using a single plan document. By doing this plan administration and paperwork is greatly reduced.
The Group Retirement Program is an efficient and affordable program that will give you more time back, help your employees prepare for retirement, and allows for the takeover many of your fiduciary responsibilities.
1. Auto-enroll: Those not already enrolled will be auto-enrolled into the plan. *2. Auto escalation: Increases contribution by 1% each year up to 10%. *3. 3(16) Fiduciary: transfers the administration liability to a third party.4. 3(38) Fiduciary: investments are monitored and replaced with discretion.5. Payroll integration (depending on payroll provider). *6. Your company logo on enrollment flyer.7. You may customize our education program and time allowance. * Only available for those who have 180 or 360 payroll integration
All businesses are welcome, including those out of state.
With our proposal, we provide a side by side comparison with what you currently have as a plan against what we provide through the Group Retirement Program.
If all census information and required documents are provided, the ETA of implementation is within 1 to 5 business days.
The program will offer both passive and active investment options, reviewed for performance, fees and other factors.
Joe Caldera selects and monitors the investment line-up as the 3(38)-investment fiduciary.
It is our fiduciary responsibility to select and offer top-tier investment options available. To choose these offering all investments are screened, selected, monitored and scored every three months on a 12- point system.
Broadridge Matrix Trust Company, Nationwide Financial, or National Securities Clearing Corporation.
Recordkeepers track the activity, and the participants' balance in the plan, which includes deposits, withdrawals, loans, and investments. Often, the recordkeeper is also the custodian, who physically holds the retirement assets.
Third Party Administrators create the company's governing documents, prepare required notices to employees, manage loans and distributions. They also complete the annual testing and IRS filings.
Fees will vary according to the group plan selected.
The TPA will review and authorize any distribution requests from participants in your 401(k) plan. This will also include loan reviews and authorization if your plan includes loan provisions. There is no need to worry about pesky emails flooding your inbox asking for a signature.
Your responsibilities include uploading pay files (unless payroll is integrated), providing year-end data, and monitoring the Group Retirement Program.
We can work with most payroll providers. Starting October 1, 2020, employers may use the following payroll 180/360 partners: 180: Advanced Payroll Systems, Complete Payroll, Deluxe Payroll, Heartland Payroll, Netchex, Pay Master, Pay-Net, Payroll Partners, Payroll Service Solutions, PaySphere, Paytime Payroll, PC Payroll, Prime Payroll Services. 360: AM Check, ManagedPAY, iSolved, Paylocity, Payright Payroll
Yes, you can select eligibility by age and length of service. You can also offer a safe-harbor match or discretionary match.
1. 100% up to 3% of compensation to all those who are eligible 2. 100%, up to 6% match of compensation of those who defer 3. 100%, up to 3%, and 50% on the next 2% deferral based on compensation. 4. Discretionary match or no match (Non-Safe harbor)
Any match provided is based on total compensation, including employee bonuses. Must pass ADP & ACP.
Caldera Wealth Management Group and LPL Financial are not affiliated with ay of the above named entities.
Contact Joe Caldera or Sal Diaz, LPL Financial Advisors, at (702) 846-4015 or (702) 846-401(k) or email@example.com.