New Plan Installation
Establishing a new 401k Plan can seem complex and confusing. At SPS, we simplify the process by starting with a Plan design consultation to explain how 401ks work, and to match Plan design features to your company’s retirement plan goals. Whether your goal is to maximize contributions to owners or whether it’s to provide a robust benefit for employees (or both), we will help design the Plan best suited to meet your objectives. We offer:
- Plan design review & 401k Q&A
- Preparation of Plan documents
- Creation and delivery of participant enrollment materials
- Consultation with CPAs or Advisors regarding the Plan
- Payroll upload and website training
Onboarding an Existing Plan
If you already maintain a 401k Plan, the services needed to allow us to onboard and then administer your Plan depend on whether the Plan is also changing its recordkeeping or investment institution. The services include:
- Updating Plan documents for compliance purposes
- Preparing required participant notifications
- Reconciling transferred assets
- All other New Plan Installation services
We are an Approved TPA with many financial institutions.
