Retirement Plan Overview

Payroll Specialties now offers retirement plan services in addition to our other services. Many of our clients are small businesses and have shared with us their frustrations and concerns about managing their own retirement plans. Lack of participation, investment choices, costs and overall logistics are just some of the many concerns expressed by our clients.

By integrating your payroll services, and adopting Payroll Specialties multiple employer plan you may find that there are many great benefits.

Reduce Costs

· HR time reduced

· Costs may be lower than an individual plan

· Removes the burden of an audit for larger employers

Integrated with Payroll Service

· Just one of many benefits of partnering with Payroll Specialties

· Streamlined transition process

· World class investment platform

Reduced Fiduciary Liability

· Shift your fiduciary liability

· Save time on administrative and investment responsibilities

· Remove requirement for performing annual plan audits

Sponsor
Payroll Specialties is the sponsor of the plan and our clients become co-sponsors of the plan. As the plan sponsor, Payroll Specialties maintains the retirement plan and assures compliance with applicable laws and provisions.

Administrator
Payroll Specialties is the administrator of the plan. As the plan administrator, Payroll Specialties provides ongoing services that include: processing contribution files, loans and distributions, administering plan provisions, provide information and education to plan participants in compliance with ERISA, provide for the annual audit of the plan, reconcile participant account balances and file the 5500 form.

Fiduciary
Many vendors now offer fiduciary warranties that address the various risks of sponsoring a retirement plan. Our plan is unique because it is a comprehensive solution, covering a wide array of fiduciary risks.

Easy
our clients maintain plan design flexibility for employee match, vesting and profit sharing without having to deal with the never-ending paper work and regulations they would have to deal with in traditional plans. Our clients have no more 5500 to file, and no more plan audits. It's all a part of the service.

Interested in learning more? Call 541.772.0100