Ready.Set(k) Solution for New Plans
Cost-effective and Easy Administration Solution Expressly Designed for Employers Looking to Establish a New 401(k)Plan
READY.SET(k) eases many of the burdens employers face when starting a 401(k) plan for the first time. With straight-forward plan design, low costs and the expert ongoing support of The Retirement Plan Company, READY.SET(k) makes it easy for small businesses to offer a great benefit to their employees while focusing on what they do best, growing their business.
- Simple and Easy
- Cost Effective
- Safe Harbor Plan
- Advisor Support
- National TPA
The Retirement Plan Company, LLC (TRPC) is one of the country’s leading independent providers of third-party administration, recordkeeping and actuarial services for qualified retirement plans. Our success in serving retirement plans from coast-to-coast is made possible by the relationships that we have with some of the nation’s most trusted and experienced financial advisors and investment platform providers.
Headquartered in Nashville, with regional offices in Portland, OR; Dayton, OH; and Greenville, SC, TRPC provides administration and actuarial services to over 3,500 retirement plans with more than 70,000 participants and $3 billion in assets.
TRPC is a proud Partner Firm of U.S. Retirement & Benefits Partners, an independent national financial services firm specializing in employee benefit plans and retirement savings programs for corporate, not-for-profit, educational, and governmental employers.
- Must be a new start-up plan
- No other existing plans (401(k), SEP, Simple IRA or pension plans) this year
- The plan year must match the company’s fiscal year
- Up to 50 eligible employees
- All employees & owners must be W-2 wage earners
- The company cannot be a member of a controlled group or affiliated service group
- Easy, coordinated interaction with the TRPC team to manage the plan
- Easy for employees to understand
- Supported by the employer’s financial advisor
- Available through over a dozen different insurance and mutual fund platform providers
- Employer selects the plan eligibility and entry requirements for new hires
- Employer selects the safe harbor contribution type and formula
- Employees can make pre-tax or Roth contributions
One-Time Setup Fee – $250
Annual Third Party Administration (TPA) Fee – $500
ANCILLIARY PARTICIPANT FEES:
Preparation of distribution package for termination, in-service or other distribution – $75 each
QDRO distribution processing fee – $300 each
Participant loan setup – $100 each
Loan recordkeeping and maintenance (annual), if not done by recordkeeper platform – $50 each
Loan refinance and consolidation – $150 each
TRPC ensures a quick and easy implementation. Contributions into the plan typically start within just 60 days.
Signed Implementation Checklist returned to TRPC
Service Agreement & Plan Document Package emailed to employer by TRPC
Service Agreement & Plan Document signature pages are returned to TRPC
Employer provides employee census data
Education/enrollment meeting completed
Plan is live and first payroll is submitted to recordkeeper