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OUR SERVICES

401(k) Plan Services for Small Businesses

The pairing of affordability and customer service is a hard combination to find these days. Our consultative services include a dedicated relationship and custom plan design.

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We Have Your Back!

We know 401(k) plans can be confusing. To demystify them for you and your employees, our plan administration services are designed to be consultative, transparent, and timely. Key features of our plan administration services include:

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Custom Plan Design

Our plans are flexible and designed to fit your unique needs. As your organization grows and needs change, we can adapt to always give you the best plan possible.
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Personal Care

You will have a dedicated relationship manager watching over your plan and available to answer any of your questions. No call centers, no time spent on hold.
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Clear Guidance

Sponsoring a plan shouldn't be time-consuming or stressful. We'll complete the most technical tasks for you while making your role easy with clear guidance.

We're a Full-Service 401(k) Provider

401(k) providers come in two basic types - bundled or unbundled. Bundled (or "full-service") providers deliver all of the administration services a retirement plan needs - asset custody, participant recordkeeping, and Third-Party Administration (TPA) - while unbundled providers must ally with at least one other firm to deliver all of the necessary services.

 

Employee Fiduciary is a bundled 401(k) provider. That means we are the only company you need to hire to offer a plan to your employees unless you also want a financial advisor for investment advice.

Why Choose Us

Employee Fiduciary is employee-owned and fully-independent. Our guiding principles are transparency and simplicity because we know 401(k) confusion often leads to lower investment returns for plan participants and unnecessary time and expense for business owners. 

 

Our services are designed to make it easy for business owners to offer a cost-efficient plan that meets the needs of their employees and company.  For more details, please check out our FAQs below or request a proposal.

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5,000+
Small Business Retirement Plans
$5+ Billion
Retirement Assets Managed
145,000+
Participants Served

Your Path to a Faster Retirement Starts Here

Starting a new 401(k) can seem overwhelming. We’re going to lay it out for you in a way that’s straightforward and transparent. Here are the steps.

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Talk to a person,
not a bot

Whether you have questions about our services or 401(k) plans in general, we have answers. Get matched with a sales consultant that puts your needs and budget first.
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Design a custom
retirement plan

Business owners can have dramatically different goals for their 401(k) plan. Once you sign up, we'll help you design a plan that meets your goals for the lowest cost.
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Start saving
and enjoy

Once your 401(k) plan is designed, we will get it up-and-running as quickly as possible so you and your employees can begin benefitting.

What Our customers are saying

“I can now sleep at night knowing that Employee Fiduciary has no hidden charges. My bookkeeper who processes the contributions each week has commented how simple it is.

Thank you EF”

“We have been very pleased with Employee Fiduciary. They’re responsive and great at demystifying 401(k) management. The fee structure is low-cost and transparent and they offer a broad range of investment options. They’ve worked very well for us.”

“With all of the headaches associated with running a business, you have far exceeded my expectations in completing this conversion process.”

Get Started with Employee Fiduciary and Retire Faster

Don't let 401(k) confusion come between you and your retirement. With Employee Fiduciary, you’ll feel confident that you’re not being taken advantage of and are on the right path to retirement.

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Frequently Asked Questions

Have questions about Employee Fiduciary or our services? Check out our FAQ. Need further assistance? Contact us.

What Third-Party Administration (TPA) services does Employee Fiduciary provide?

Third-Party Administration involves completing the annual tasks necessary to keep a 401(k) plan in compliance with the Employee Retirement Income Security Act of 1974 (ERISA). Under our care, your plan will meet every regulation to the letter of the law, on or before the applicable deadline.

 

Our services include:

 

  • Keeping your plan document up to date with applicable law
  • Completing annual nondiscrimination testing (as applicable)
  • Preparing a signature-ready Form 5500 and Summary Annual Report (SAR)
  • Calculating year-end contribution allocations
  • Preparing any necessary participant notices (e.g., safe harbor 401(k) notice)

     

What plan recordkeeping services does Employee Fiduciary provide?

A 401(k) recordkeeper is essentially the bookkeeper of your 401(k) plan. A recordkeeper’s responsibilities include allocating the assets of your plan to participant accounts and executing participant trades. We leave nothing to chance when performing this important job, reconciling all participant accounts to the penny each day to ensure no trades are missed.

 

Our services include:

 

  • Providing 24/7 online account access to participants and the plan sponsor
  • Updating share prices, and individual account balances daily
  • Processing plan trades, including contributions, distributions and fund transfers
  • Preparing quarterly benefit statements
  • Originating and maintaining participant loans
  • Providing participant fee disclosure notices

 

What are the steps in the Employee Fiduciary plan design process?

At Employee Fiduciary, we don’t sell cookie-cutter 401(k) plans. Instead, we start every plan setup with a consultation where our experts will...

 

  • Walk you through the plan design process step-by-step
  • Help you decide if a Safe Harbor 401(k) is right for you
  • Discuss plan features that can save you money, minimize admin work, and help you pass annual compliance tests
  • Design an optional employer contribution scheme, including non-elective, matching, or profit-sharing contributions

What are the steps in the Employee Fiduciary plan setup process?

Once your plan is designed, a new business consultant will do all the heavy lifting to get your plan set up.

 

All plans:

 

  • Prepare a plan document and Summary Plan Description (SPD)
  • Establish participant and trust accounts
  • Receive investment approval from the custodian
  • Prepare participant enrollment materials
  • Establish website access for you and
    your employees
  • Provide website and contribution submission training

Takeover plans only:

 

  • Coordinate the transfer of plan assets
    from your outgoing provider.
  • Prepare the blackout notice for
    plan participants.
  • Reconcile the plan assets transferred
    from your outgoing provider.

Is my business eligible for a tax credit if I start a new 401(k) plan?

Maybe. The SECURE Act permits an eligible small business to claim a tax credit for adopting a new 401(k) plan and/or a new automatic enrollment feature.

 

  • Qualified startup costs - Before the SECURE Act, a small business could claim a tax credit equal to 50% of their “qualified startup costs,” up to a $500 limit. Now, the limit is the greater of (1) $500 or (2) the lesser of (a) $250 multiplied by the number of non-Highly Compensated Employees (non-HCEs) eligible for plan participation or (b) $5,000. This credit is available for up to three years.
  • Automatic enrollment - Small businesses can earn an additional $500 tax credit by adding an automatic enrollment feature to a new or existing 401(k) plan. The credit is available for each of the first three years the feature is effective.

When combined, these credits can total up to $5,500 per year ($16,500 for 3 years).

 

What are my options for paying Employee Fiduciary fees?

Employee Fiduciary fees can be paid by the plan sponsor - via Automated Clearing House (ACH) or credit card - or deducted from participant accounts pro rata based on account balance.

 

About 80% of clients pay our fees by ACH or credit card to help participant accounts grow faster.

 

What are my investment options with Employee Fiduciary?

Many 401(k) providers limit your investment options to high-priced mutual funds that pay them hidden compensation (known as "revenue sharing"). Not us.

 

With Employee Fiduciary, you get access to all NSCC-tradeable funds on the market - nearly 30,000 share classes from 377 fund families. 

 

This includes low-cost options such as:

  • Vanguard
  • Index Funds
  • Exchange-Traded Funds (ETFs)

 

You can also choose to include a Self-Directed Brokerage Account (SDBA) through Charles Schwab, known as the Schwab Personal Choice Retirement Account® (PCRA). This allows you to invest in any fund on the market, even those outside your plan's fund lineup.

What are my professional investment advice options with Employee Fiduciary?

With Employee Fiduciary, you have two basic options for professional investment advice - Target Date Funds or a financial advisor.  To choose the best option for your plan, you should understand their pros and cons. 

 

Have Retirement Plan Questions? We Have Answers

Our Resource Center provides unbiased retirement plan education for both employers and employees.

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