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Converting Your 401k |
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Upgrade To A New 401k In 5 Easy Steps!
Your Customized 401k Is Just A Day Away
With the American 401k, the conversion process is time efficient and effortless for the employer. In as little as (1) day, we can have your new plan active and ready to receive payroll submissions.
While the conversion of your existing plan is highly dependent upon the reporting of the sending provider,
our team of specialists will connect with them and expedite the process..
In as little time as administratively
feasible, your new plan will receive investment assets from the sending custodian.
Our streamlined process is a delight to employers who prefer more time focused on business operations
and less time dedicated to benefits administration.
We walk you through each step of the conversion
to have your plan up and running in no time.
STEP 1 - Tell Us Your Primary Interests
Employers May Upgrade An Existing 401k For Many Reasons
- Reducing overall plan expenses.
- Employee education and creating an interactive environment.
- Managing fiduciary responsibility.
- Investment performance reviews.
- Offering a wider array of investment options.
- Designing a plan to receive higher key employee contributions.
- Improving record keeping service to the employer.
We Focus On Your Primary Interests
- Our team specializes in attention to detail for each of your specific retirement plan improvement goals
- We are particularly sensitive to creating a favorable employee experience during this conversion
STEP 2 - Analyze Your Investment Options
Review Existing Investments
- We work with you to evaluate your existing investment options.
- Investment Policy Statement is examined or initially drafted.
- Investment performance reviews are completed for all funds.
- Investment category gaps, if any, are identified.
- As suitable, additional investment options are offered to help enhance your spectrum.
STEP 3 - Confirm Your Plan Design
Choose A Design By The Adoption Agreement
- We provide the record keeper’s standardized agreement, no additional cost.
- A record keeper design specialist will guide you with regulatory requirements.
- Consider any enhanced design such as Safe Harbor 401k or a Roth 401k feature.
- Review New Comparability Profit Sharing to maximize owner contributions.
- Determine any change to matching or profit sharing formula.
- Choose eligibility and vesting requirements.
Manage Your Employee Census
- A census template is provided electronically, to collect your confidential employee data.
- Determine employee classifications, if they apply by your profit sharing design.
STEP 4 - Schedule Enrollment
Include All Eligible Employees In The Enrollment Meeting
- Select an in-person or telephone meeting.
- Provide contact information for any off-site employees.
- Choose Automatic Enrollment or conventional enrollment.
- Opt for enrollment by forms or online.
Rely On Us To Educate Employees
- Each employee receives a comprehensive enrollment kit with plan rules and fund information.
- We interact to help individuals assess their intended level of risk and retirement goals.
- Suitable investment models are offered as options based on unique employee profiles.
- Employees with an existing retirement account receive a complete Morningstar Portfolio Analysis.
- Employees with existing investment strategies may duplicate fund allocations through mapping.
STEP 5 - Begin Payroll Submission
Authorize Your Payroll Provider To Make 401k Contributions
- Commence payroll adjustments upon completion of employee enrollment.
- Initiate automated contributions in frequency with your pay cycle.
- Choose your method of deposits by ACH, check or wire.
Access Your Account
- Upon first contribution, employees have Internet and toll-free access.
- Online statements show all account activity and fund performance.
- Participants have free daily transactions online.
- Quarterly statements are mailed to participant homes.
- Customized portfolio analysis is offered by our representatives, using Morningstar Principia Pro.
- Retirement education continues, ongoing, without additional expense or limitations.
So Don't Delay, Plan Now, Play Later.
Getting your plan up and running has never been easier.
Employer Simplicity
American 401k Is Designed For Ease Of Operations
One, all-inclusive package features:
Plan Setup
Administration And Record Keeping
Investments
Fiduciary Compliance Guides
Employee Services
We give a lot to make your experience a favorable one.
Our success depends upon your happiness, so attention and care are the cornerstones of our representation
Plan Setup
- IRS approved prototype document
- Record keeping design specialist
- Traditional or Safe Harbor 401k at no additional expense
- Roth 401k at no additional expense
- Matching and Profit Sharing provisions
- Customized eligibility for age, waiting period, and number of hours
- Flexible vesting, loans, and hardship withdrawals
Administration And Record Keeping
- Automatic Enrollment option
- Integrated payroll submission
- Daily transaction processing
- Required ADP/ACP and compliance testing
- Annual Valuation Report
- IRS Tax Form 5500
- Participant distributions and 1099s
Investments
- Access to 2 plan investment options, Plan A and Plan B
- Plan A offers over 40 funds from 18+ fun families
- Plan B open-architecture design offers a custom selection, 5,000+ funds
- Securities brokerage account option
- Investment analysis and research reports included
Fiduciary Compliance Guides
- Managing Your Fiduciary Liability
- Investment Policy Statement
- Quarterly Plan Sponsor and participant newsletters
Employee Services
- In-person education
- Daily account valuation and online statements
- Daily online transactions
- Toll-free customer support
- Unlimited financial professional support and investment education
- Web-based retirement planning tools, free loan modeling
- Rollover guidance
So Don't Delay, Plan Now, Play Later.
Getting your plan up and running has never been easier.
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Important Information
All administrative and record keeping services are offered by PB&H Benefits, LLC.
The custodian trust company is Mid Atlantic Trust Company (MATC), providing a state-of-the art trading and reporting system that integrates record keeping, trust accounting, and straight-through processing with access to over 16,000 mutual funds in underlying accounts.
All investments are offered by Registered Representatives of MML Investors Services, LLC, Securities are distributed through MML Investors Services, LLC, Member, SIPC. Supervisory Office: 2 Bala Plaza Suite 901 Bala Cynwyd, PA 19004 Tel (610) 660 9922.
Investment education is provided by Registered Representatives of MML Investors Services, LLC.
Note that our role as financial professionals, with respect to the 401k plan, is not to provide investment advice. We offer employee education including fund information and portfolio design using models that match the employee's intended level of risk and investment goals.
In no way do we endorse any recommendations, advice, or opinions contained in Information developed by third party providers and mentioned in this website. We merely provide access to such information as a convenience to help you consider your design and investment selections. Any investment decisions you make are based solely upon your evaluation of financial circumstances and investment objectives, in the best interests of your Plan.
Mutual Funds are sold by prospectus. You should carefully consider a fund’s investment objectives, charges, expenses, and risks before investing. The fund's prospectus, which can be obtained online (or hard copy) by calling your Registered Representative, contains this information and other facts about the fund. Please read the prospectus carefully before you invest or send money.
We do not offer tax planning or legal advice. Please consult your CPA or attorney for specific tax implications and legal matters pertaining to your Plan.
Registered Representative Information
John M. Novak is a Registered Representative of and offers securities and investment advisory services through MML Investors Services, LLC, Member, SIPC.
Supervisory Office:
First Financial Group
2 Bala Plaza Suite 901
Bala Cynwyd, PA 19004
Tel (610) 766 3014
Administrative and record keeping services offered by PB&H Benefits, LLC, and custodian services offered by Mid Atlantic Trust Company are not sponsored or offered through First Financial Group or MML Investors Services, LLC. PB&H and MATC are not affiliates or subsidiaries of MML Investors Services, LLC.
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