Starting a new retirement Plan can seem complex and confusing. You can rely on our staff at Steidle Pension Solutions to make the process easy. We will help you identify, select, implement and administer a retirement Plan suited to the needs of your company and its employees.
Our services cover the following plan types:
- 401(a) Profit Sharing Plans
- Roth 401(k)
- Defined Benefit Plans
We will provide the following services and documents related to the installation and administration of your plan:
- Adoption Agreement – The instrument that allows the Plan Sponsor to select plan provisions like eligibility requirements, types and amounts of contributions, and vesting schedule.
- 401(k) Plan Document with Amendments – This important document establishes the rules, terms and conditions under which the retirement Plan is operated by the employer.
- Summary Plan Description – A document that must be provided to participants of qualified Plans, which provides explanations of their rights, benefits and responsibilities under the Plan.
- Enrollment Kits – Each participating employee will be provided an enrollment kit with participant level instructions and information necessary to enroll and participate in the new retirement Plan.
- Advise Fiduciary on Investment Policy Statement - The investment policy statement (IPS) outlines your responsibilities to your employees as a Plan fiduciary. Adherence to the rules outlined in the IPS is of paramount importance. We can assist at the request of the Plan fiduciary.
- Recommend a 404(c) Compliant Investment Menu - 404(c) compliance helps employers avoid liability for any losses incurred by employees as a result of their individual investment decisions.
- IRS Form 5300 Preparation (if necessary) - The application for determination for employee benefit Plans is used to request a favorable determination letter from the IRS regarding the qualification of a defined contribution or a defined benefit Plan.
In most cases, our service fee is $600 annually for full-service administration for Plan Sponsors. The annual administration may be $900 for certain non-recordkeeping platforms. There is a one-time cost to install a 401(k) Plan of $850. During certain times of the year, the one time cost may be discounted by 50%, so be sure to check with your SPS service representative. These rates apply for Plans with less than 25 participants.
For Plans with 26-500 participants, there is a $10 participant additional administrative charge.
For Plans with more than 500 participants, a custom quote can be prepared.
To get started, please fill out the following Request for Proposal form. If you have questions or need assistance, you may also call us at 800-630-401K (4015) or click here to contact us.