new plans...
401k Easy Online Is for New and Already-Existing 401k Plans
401k Easy Online is for new and already-existing 401k plans, including plans serving only one employer (spouse OK, too). We use different order forms for new versus already-existing plans, as there is additional information to collect when we take on an already-existing plan.
- If 401k Easy Online will be your company's first 401k plan, please complete our First Plan Order Form.
- If you are requesting we convert your already-existing retirement plan into a 401k Easy Online 401k plan, please use our Conversion Plan Order Form.
- For a one-person (plus spouse) plan, please use our 401k Easy Online-for-One Order Form.
Completing the appropriate order form is a great way to ask specific questions about a 401k Easy Online plan for your company. Each relevant item has an "Unsure. Please contact..." button. You can use the order form to provide us with specific information about your company size, make-up, etc., to facilitate speedy responses to your questions. SUBMITTING AN ORDER FORM IN NO WAY OBLIGATES YOU TO PURCHASE 401K EASY ONLINE. Not until you actually pay your plan and system customization fee (the "setup fee") is your order actually processed. Please see below under "No Money Due at This Time: The Order Fulfillment Process."
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new plans...
Complete the Appropriate Order Form: NEW PLANS
Thank you for your interest in 401k Easy Online.
- Use our First Plan Order Form to order 401k Easy Online as your company's first 401k plan or to request specific information regarding 401k Easy Online and the system's applicability to your company's particular 401k needs.
- If you already have a 401k plan or other retirement plan and are interested in converting it to a 401k Easy Online plan, please use our Conversion Plan Order Form.
- If you are interested in a one-person 401k, please use our 401k Easy Online-for-One Order Form.
Whichever form you use, if there is any plan customization item about which you are undecided or regarding which you would like additional information, simply mark the "Unsure. Please contact..." button. A 401k Easy Online Representative will contact you regarding your order within 24 hours of its submission (see below under The Order Fulfillment Process) to review your order with you and answer any questions you have.
Use the above Plan Options tab to read about your plan and system customization options — and know that you can mark the "Unsure. Please contact..." button for any item regarding with which you would like help or additional information.
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new plans...
No Money Due at This Time: The Order Fulfillment Process
After you submit your 401k Easy Online order, a representative will call you within 24 hours (on business days) to go over any items you marked as "Unsure" and to answer any additional questions you have.
After all your questions are answered, if you want to proceed with your order you will be able to pay the $995 401k Easy Online setup fee over the phone using your Visa, Mastercard or American Express Card or by mail using a check; there is a five-day holding period on all check orders.
- As soon as we receive your setup fee, we prepare your official 401k Adoption Agreement and Summary Plan Description for your review.
- Upon your approval of the documents and your payment of your 401k Easy Online annual fee, we immediately create your customized online self-service 401k administration and participation gateways and provide you with your access codes. The customized systems integrate all relevant aspects of your 401k plan into your 401k plan administration and participation processing functions, highly automating many of those functions.rs">As soon as we receive your setup fee, we prepare your official 401k Adoption Agreement and Summary Plan Description for your review.
- For more information about the customized gateways, visit our Product Demos page.
How quickly clients get back to us in reviewing their customized 401k documents obviously affects the implementation schedule. Most clients respond within a few days of receiving their documents and have their customized 401k Easy Online operational within two weeks of placing their order.
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new plans...
Help With Completing Your Order Form
You can of course call us any weekday during normal business hours (Pacific time) at 800-660-0050 if you need help with completing your order form, however we recommend that you instead complete as much of the appropriate order form as you can — about your company size, for instance — and then use the "Unsure. Please contact...." buttons for any items with which you would like to consult with a 401k Easy Online 401k professional. We likely will need the basic information about your company to give specific answers regarding plan design options open to it.
We do not share any information you submit with any outside party We use your information only to answer your questions and create your customized 401k product.
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new plans...
You Can Use the Order Form to Request Plan-Specific Information
As we mention in the preceding answer, you can use our order forms to request information about 401k Easy Online and specific its suitability to your company's needs. Simply provide the basic information about your company (particularly it's size), then click the "Unsure. Please contact..." button for any applicable item. A representative will call you within 24 business hours to answer your questions and review with you your 401k options.
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new plans...
You Are Never Locked In To Your Customization Decisions &mash; Or Even To Using 401k Easy Online
Whether you are ordering your companies first 401k plan or having us convert your existing plan into a 401k Easy Online option-rich 401k plan, know that your are never locked into your decisions. Simply contact us if you want to amend your 401k customization choices or move from self-service plan administration to full-service administration.
- Re-customization fees may apply if you request changes to your customization decisions. See the Pricing and Price Comparisons page for details.
- We offer a full-service alternative to 401k Easy Online's self-service online plan administration. See our 401k Products page for more information, or contact us for specifics regarding your exact plan and situation.
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conversion plans...
Converting An Existing 401k Plan to 401k Easy Online Takes Only Days
Dissatisfied with your current 401k plan? With the lack of service its vendors provide? With their lack of responsiveness to the needs of your company and its employees? Is your current 401k worth the aggravation — and all those fees?
- Consider having us convert your existing 401k plan into a 401k Easy Online self-service 401k plan.
- Most small businesses save 60% to 90% a year in 401k-related expenses by switching to 401k Easy Online (see next topic).
- Your current vendor likely already has you compiling the data 401k Easy Online uses. Why wait (and pay for) them to process it when you can have your customized 401k Easy Online system do it for you in seconds.
We have nearly 30 years of experience with 401k plan takeovers (aka, conversions) and are experts in finding economical, straight-forward solutions to even the most complex 401k conversions.
In most cases, the conversion process can be completed in less than a week — and with no black-out period.
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conversion plans...
Conversions Typically Cost $500 or Less and Save Companies Upwards of 60% per Year in 401k Expenses
401k Easy Online can accommodate 401k plans of any size. Most plan conversions to 401k Easy Online can be completed for $500 or less.
A 401k Easy Online 401k plan conversion includes, as applicable:
- A corporate board resolution
- Notification to your employees regarding the changeover
- Preparation of a new Summary Plan Description for your employees
- Preparation of necessary paperwork for you to sign and deliver to your current 401k plan vendor(s) to notify them of the changeover
- Historical plan data conversion and uploading into your customized 401k Easy Online gateways.
In switching to 401k Easy Online, companies typically save 60% to 90% per year in annual 401k expenses (as compared to using a bundled 401k plan run by a third party administrator or other outside party).
- Our pricing starts well below the national average and increases ONLY with plan size, not the investments, options and/or services you choose to include.
- Visit our Pricing and Price Comparisons page for specific numbers.
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conversion plans...
Keep Your Existing Plan Investments or Choose New Ones From Our Nearly Limitless Array of No-Load Mutual Fund Families and Self-Directed Brokerage Accounts
Quality investments are key to a popular 401k plan. With 401k Easy Online, you can:
- Choose from our immense array of brand-name, quality no-load mutual fund families (including no-load institutional mutual funds) and discount brokerage accounts available for use with 401k Easy Online plans.
- Among that array may well be your existing plan investments.
- Participants can close out their old plan investments and roll the amounts into their new designations, or they leave the old money where it is and only direct new 401k contributions into their new designations, as applicable.
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conversion plans...
Complete the Appropriate Order Form: ALREADY-EXISTING (aka, Conversion) PLANS
Thank you for your interest in 401k Easy Online.
- Our Conversion Plan Order Form is for companies that already sponsor a retirement plan and would like to convert that plan for use with 401k Easy Online or ask specific questions about such a conversion.
- If your company does not already have a retirement plan, use our First Plan Order Form to order or request specific information about 401k Easy Online.
- If you are interested in a one-person 401k, please use our 401k Easy Online-for-One Order Form.
Whichever form you use, if there is any plan customization item about which you are undecided or regarding which you would like additional information, simply mark the "Unsure. Please contact..." button. A 401k Easy Online Representative will contact you regarding your order within 24 hours of its submission (see below under The Order Fulfillment Process) to review your order with you and answer any questions you have.
Use the above Plan Options tab to read about your plan and system customization options — and know that you can mark the "Unsure. Please contact..." button for any item regarding with which you would like help or additional information.
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conversion plans...
No Money Due at This Time: The Order Fulfillment Process
After you submit your 401k Easy Online order, a representative will call you within 24 hours (on business days) to go over any items you marked as "Unsure" and to answer any additional questions you have.
After all your questions are answered, if you want to proceed with your order you will be able to pay the $995 401k Easy Online setup fee over the phone using your Visa, Mastercard or American Express Card or by mail using a check; there is a five-day holding period on all check orders.
- As soon as we receive your setup fee, we prepare your official 401k Adoption Agreement and Summary Plan Description for your review.
- Upon your approval of the documents and your payment of your 401k Easy Online annual fee, we immediately create your customized online self-service 401k administration and participation gateways and provide you with your access codes. The customized systems integrate all relevant aspects of your 401k plan into your 401k plan administration and participation processing functions, highly automating many of those functions.rs">As soon as we receive your setup fee, we prepare your official 401k Adoption Agreement and Summary Plan Description for your review.
- For more information about the customized gateways, visit our Product Demos page.
How quickly clients get back to us in reviewing their customized 401k documents obviously affects the implementation schedule. Most clients respond within a few days of receiving their documents and have their customized 401k Easy Online operational within two weeks of placing their order.
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conversion plans...
Help With Completing Your Order Form
You can of course call us any weekday during normal business hours (Pacific time) at 800-660-0050 if you need help with completing your order form, however we recommend that you instead complete as much of the appropriate order form as you can — about your company size, for instance — and then use the "Unsure. Please contact...." buttons for any items with which you would like to consult with a 401k Easy Online 401k professional. We likely will need the basic information about your company to give specific answers regarding plan design options open to it.
We do not share any information you submit with any outside party We use your information only to answer your questions and create your customized 401k product.
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conversion plans...
You Can Use the Order Form to Request Plan-Specific Information
As we mention in the preceding answer, you can use our order forms to request information about 401k Easy Online and specific its suitability to your company's needs. Simply provide the basic information about your company (particularly it's size), then click the "Unsure. Please contact..." button for any applicable item. A representative will call you within 24 business hours to answer your questions and review with you your 401k options.
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plan options...
Our IRS-Approved Prototype 401k Plan Allows for Significant Customization
Each 401k Easy Online system includes an IRS-approved prototype 401k plan that we work with you to customized to your 401k needs. Ours is NOT a cookie-cutter 401k plan with take-it-or-leave it investments like with some 401k plans designed for small businesses.
Things your company defines for its 401k Easy Online 401k plan include:
- Your 401k participation eligibility requirements
- Your 401k employer matching contribution formula, should you choose to include such contributions
- Your 401k employer profit-sharing contribution formula, should you choose to include such contributions
- Your 401k employer qualified nonelective contribution formula, should you choose to include such contributions
- The vesting formula(s) to be applied to any employer matching and/or profit-sharing contributions, should you choose to include such contributions (qualified nonelective contributions are, by law, 100% vested when made)
- The 401k investments you want to offer
- Your 401k loan policy, should you choose to include 401k loans in your 401k plan
- Your automatic enrollment default investment choice and contribution rate, should you choose to use automatic enrollment in your company plan
- Whether or not your plan will be run by the safe harbor method of 401k plan administration and, if so, applicable employer contribution formulas
We offer free help with understanding each of your 401k plan customization options, so you can make educated decisions as to what will be best for your company and its employees. For help with specific topics, we recommend completing the appropriate Order Form (use the tabs at the top of this page to access the relevant form) and mark "Unsure. Please contact..." for relevant items. Completing an Order Form IN NO WAY obligates you to purchasing anything; it simply gives us the information we need about your company's size, etc., to answer questions regarding your potential 401k plan.
Within parameters set by law, you can have us edit your 401k plan down the road, if you like. You are never locked into the decisions you find suitable today. (If any edits you later have us make to your 401k plan mean re-customization of your 401k plan administration software and/or amendment of your official 401k Plan Adoption Agreement, we reserve the right to charge a fee of up to $500 for system re-customization; re-customization fees are a function of the complexity of the system and document changes required, and in most case are less than $200, if not waived completely.)
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plan options...
Your Customization Options
The below chart shows the 401k plan customization options allowed by the government regulations (and therefore in 401k Easy Online) and within that spectrum those typically recommended for a first-time plan.
- Understanding the potential effect each option has on a 401k plan's popularity and thus its worth cannot be universally mapped out, as such vary with company size, worker preferences and other company-specific parameters. We are happy to discuss potential effects with you and recommend that interested parties submit the appropriate Order Form and use the "Unsure. Please contact..." buttons to indicate about which items you need more information. As explained in the No Money Due at This Time: The Order Fulfillment Process section (see above), submitting an Order Form in no way obligates your company to placing an order.
| 401K PLAN PARAMETERS | IRS ALLOWS... | RECOMMENDATION FOR MOST 401K EASY ONLINE PLANS* |
| PARTICIPANT ELIGIBILITY: Age Requirement |
Anything from none to 21 years of age | 21 years of age (we recommend that participation begin on the first day of the first month after the person meets the plan's eligibility requirements) |
| PARTICIPANT ELIGIBILITY: Length of Service Requirement |
Anything from none to 1 year of service | 3 months of age (we recommend that participation begin on the first day of the first month after the person meets the plan's eligibility requirements) |
| PARTICIPANT ELIGIBILITY: Union Membership |
OK to exclude employees whose service is governed by a collective bargaining agreement | Exclude union employees |
| EMPLOYER CONTRIBUTIONS (Matching, Profit-Sharing and/or Qualified Nonelective) |
Cannot make total contributions to any employee account over the annually-adjusted total allowed contribution amount. For more information, see "401k Contribution Guidelines and Limitations" within our 401k Basics page. | Allowed in all forms but not mandatory. Contact us to discuss your particular situation. |
| VESTING OF EMPLOYER CONTRIBUTIONS | Full, immediate vesting OR anything less stringent than either: (a) No vesting earned until the person has participated in the plan for five years, then 100% vesting after five years, or (b) Seven Year Formula: 0% vested for the first 2 years of participation 20% vested after 3 years 40% vested after 4 years 60% vested after 5 years 80% vested after 6 years and 100% vested after 7 years of participating in the plan. |
Full, immediate vesting OR Five Year Formula: 20% vested after 1 year of participating in the plan 40% vested after 2 years 60% vested after 3 years 80% vested after 4 years 100% vested after 5 years of participating in the plan. |
| INVESTMENT OPTIONS | Almost anything goes (stocks, bonds, annuities, company stock, GIC insurance contracts, and more), but selection offered MUST fulfill plan sponsor's "fiduciary responsibility" with respect to offering ample variety, among other things, of 401k investment opportunities | Both individual no-load mutual fund families (including no-load institutional mutual funds) and self-directed brokerage accounts are allowable; see our Investments pages for information that will help you determine which (perhaps both) best suit your 401k needs. |
| 401K LOANS | Inclusion or exclusion is allowed. | Allowed but not mandatory. Not recommended for a plan's first year of operation. |
| AUTOMATIC (aka, Passive) ENROLLMENT | Allowed by the IRS, but the legal system has not yet had occasion to rule on possible infringements upon employee rights. | Allowed but not mandatory. No recommendation; consult your legal advisor. |
| *Understanding the potential effect each option has on a 401k plan's popularity and thus its worth cannot be universally mapped out, as such vary with company size, worker preferences and other company-specific parameters. We are happy to discuss potential effects with you and recommend that interested parties submit the appropriate order form and use the "Unsure. Please contact..." buttons to indicate about which items you need more information. As explained within "No Money Due at This Time: The Order Fulfillment Process" (see above), submitting an order form in no way obligates your company to placing an order. | ||
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plan options...
Additional Recommended Parameters
In addition to the above, we generally recommend the following for 401k Easy Online plans:
| PLAN PARAMETER | RECOMMENDATION FOR MOST 401K EASY ONLINE PLANS* |
| PLAN YEAR | January 1 - December 31 |
| NORMAL RETIREMENT AGE | 65 |
| EARLY RETIREMENT AGE | No early retirement age |
| HARDSHIP WITHDRAWALS | Include (mandatory under IRS regulations) |
| PARTICIPANT ACCOUNT STATEMENTS | Monthly. With 401k Easy Online, plan participants have the self-service freedom to view/print account statements at any time. |
| *Understanding the potential effect each option has on a 401k plan's popularity and thus its worth cannot be universally mapped out, as such vary with company size, worker preferences and other company-specific parameters. We are happy to discuss potential effects with you and recommend that interested parties submit the appropriate order form and use the "Unsure. Please contact..." buttons to indicate about which items you need more information. As explained within "No Money Due at This Time: The Order Fulfillment Process" (see above), submitting an order form in no way obligates your company to placing an order. | |
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plan options...
The Sate Harbor Administration Option
The IRS offers an alternative means for achieving 401k plan balance: The safe harbor method of 401k plan operation lets 401k plans skip their annual 401k discrimination testing so long as the sponsoring employer meets certain employer 401k contribution requirements that are designed to ensure broad participation in the company plan; the employer, too, must provide 100% immediate vesting of the contributions.
- To qualify a 401k plan as a safe harbor plan, an employer must make matching contributions that fulfill the below requirements or make nonelective contributions equal to 3% of each eligible employee's compensation.
- Nonelective contributions are made to all eligible employees, regardless of if the employees participate in the company 401k plan. Matching contributions, on the other hand, being based upon salary deferral amounts, are made only to active 401k participants' accounts.
- If the employer chooses to make safe harbor matching contributions, those contributions must meet two requirements: First, each non-highly-compensated employee must receive a dollar-for-dollar match on salary deferrals up to 3% of compensation and a 50¢ to the dollar match on salary deferrals from 3% to 5% of compensation. Second, the rate of any matching contributions being made to highly compensated employees cannot exceed that being made to non-highly compensated employees.
The employer must provide annual information to employees explaining the 401k plan's safe harbor provisions and benefits, including that safe harbor contributions cannot be distributed before termination of employment and that they are not eligible for financial hardship withdrawal.
Your 401k Easy Online system includes such notification within your customized 401k plan's Summary Plan Description, a document for prospective and active plan participants that's updated at least annually.
- If you don't choose the safe harbor method of 401k plan administration, we encourage you to use your customized 401k plan administration software's point-and-click compliance testing every month to keep well apprised of your plan's health so there are no surprises when your plan is subjected to its mandatory year-end tests.
- Monthly testing takes only seconds with 401k Easy Online, and frequent testing means you can spot and correct undesirable trends before they compound.
- You can test your company’s 401k plan for compliance any hour of the day or night, and day of the week, from any computer with Internet access.
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plan options...
You Are Never Locked Into Your Option Decisions
You are never locked into your 401k Easy Online plan and/or system design decisions. We have many clients that, for instance, exclude 401k loans in the early years of their plan, then add the option in at a later date.
- Know that you can have us modify your plan and system design at any time. We do reserve the right to charge for changes initiated by you that require us to re-customize your 401k online software and/or official 401k documents. The maximum charge for re-customization work is $500 per instance and depends upon the complexity of the changes required; generally the fee is $200 or less.
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