Administration

Enrollment, payroll processing, participant transactions and distributions are all included services. Also, the IRS 5500 and required plan testing are built-in to help ensure your regulatory compliance.

What Is Included?

  • Service excellence in an all-inclusive complete 401k program
  • Flexible IRS-approved prototype plan documentation
  • Payroll integration
  • Compliance testing, IRS tax form 5500, annual reporting
  • sing_turtleLoans, hardship withdrawals, rollovers, and distributions
  • Comprehensive participant education and investment services
  • Online employer management records and participant reports

What Are The Basic Costs?

  • One-time start up fee: $250 for a new plan
  • Cost-effective annual record keeping fee: $500
  • Per participant fee, paid by employer or employee: $20 per year
  • Custodian fee paid by employer or (typically) by employee: 1/10th of 1% annualized
  • No additional cost for Safe Harbor 401k
  • No additional cost for matching or profit sharing

Note: Fees are detailed in the American 401k Expense Detail.

What Are The Online Services?

  • Participant exchanges, rebalancing, and future fund allocations
  • Detailed transaction history
  • Statements updated daily (hard copy statements are sent quarterly to participant homes)
  • Fund profiles updated daily – Morningstar.com reports
  • Retirement income projections
  • Loan modeling
  • Employer management records