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.
READY.SET(k) Features
- Simple and Easy
- Cost Effective
- Safe Harbor Plan
- Advisor Support
- National TPA
READY.SET(k) Requirements
- 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
READY.SET(k) Features
- 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
READY.SET(k) Pricing
EMPLOYER FEES:
One-Time Setup Fee – $500
Annual Third Party Administration (TPA) Fee – $750
ANCILLIARY PARTICIPANT FEES:
(AS APPLICABLE)
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