The Success of Your Plan Participants is Our Highest Priority

Encouraging your employees to participate in your 401(k) plan and take advantage of their benefits is critical for your success—but their participation also bolsters their own chances for a more rewarding retirement.

It’s because your employees are so important to you that their success is so important to us. 

We provide complete plan participant assistance, even to the point of hand-walking participants through their plan’s online portal so they understand how to use their technology and take control of their retirement benefits.

We Offer High-Tech, High-Touch 401(k) Plan Participant Support

Your participants can go to us for help with any question, freeing you from hunting down answers to queries you may not know so you can keep your focus where it should be—on the health of your business. 

We not only want to lighten your administrative load, we also want to bring you peace of mind. We are committed to answering all questions within 24 hours. And because of our close relationships with ADP, Paychex, Dominion, and other plan providers, we receive preferred treatment and can get the right answers, fast.

Planning for the Long-Term, Today

We can help your employees understand why they should participate, help them get comfortable with their investment choices, and start them on the right path for a successful retirement.

But we know that some plan participants will need more guidance than others. That’s why we include financial planning and financial wellness education so participants can understand how their 401(k) fits into their complete financial picture.

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A Successful 401(k) Begins with a Plan

Do you know what your responsibility is for your company’s 401(k) Plan? It may be much different than you think. While many Plan Sponsors see fund selection as their primary concern, you are required to be a fiduciary for all aspects of your plan.

Being a fiduciary is the highest standard of professional care in financial services, and doing what’s right for you and your plan participants is the foundation of how we support your 401(k) plan.

We bring the seasoned expertise to help you fulfill your fiduciary duty, maintain the confidence of your employees, and keep your focus on where it should be—growing your business. 

We Provide End-to-End 401(k) Plan Setup Assistance

Knowing all the ins-and-outs of your company’s 401(k) Plan shouldn’t be your main responsibility, because your plate is already full.

Let us take the reigns and give you the end-to-end assistance you need with the details of your Plan so you can have peace of mind that your Plan and Participants are taken care of the right way.

From encouraging employee participation to help with creating your IPS and Investment Committee, we are more than a resource; we are a pillar of strength you can lean on whenever you need support—especially in all the critical early phases of planning to launch your 401(k) Plan.

Your support doesn’t stop at setup. We also support you with on-demand reporting, audit assistance, and enrolment processing.

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See Your Plan Through a Different Lens

Understand How Much Your Plan Really Costs You

When your business sponsors a company 401(k) plan, you have a fiduciary responsibility to your employee participants to only pay what is considered reasonable for fees and expenses to your service providers and investment managers.

Do you know with certainty that you are paying the lowest amount, for the highest quality of service and support that you can receive?

If you aren’t sure, we’re here to help.

We compare your fees to competitors and the average of all plans for companies of your size so you can gain a full understanding of what you’re paying now and how it might be possible for you to lower your costs in the future.

We are confident that our high-tech, high-touch services can help reduce your fees and give you peace of mind that you are maintaining your fiduciary duty for all of your employee participants. 

Check Your 401(k) Fees with a Vision Test

Here’s what we’ll do for you when we run a 401(k) Vision Test:

  • Review the fees you’re paying right now
  • Take a look at all the plan features you currently receive
  • Analyze if your current plan is the correct plan for a company of your size
  • Suggest improvements you can make, such as utilizing Safe Harbor plans that include a two-year vesting requirement 

Get your questions answered so you can have the detailed information you need to make an informed decision about the future of your businesses’ 401(k) plan. The information you share with us is always private and confidential.

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Get a Wider Perspective with a 401(k) Benchmark Report

Benchmarking your company’s 401(k) Plan requires you to maintain proper documentation and be knowledgeable about the details of your plan. 

If you’re looking at the stack of papers on your desk or the number of unread emails in your inbox and wondering how you’re going to stay on top of your 401(k) in addition to your other responsibilities, you aren’t alone.

When you work with Vision401k, you’re choosing an experienced team that you can trust with those time-intensive tasks, so you can focus on your company and employees instead of updating documents.

How We Support You with 401(k) Plan Benchmarking

It’s true that benchmarking your company 401(k) plan is required under ERISA law, but even if it weren’t a requirement, we would still believe in helping you complete an annual review.

Benchmarking not only meets your fiduciary obligation to make the best possible decisions for your employee participants, it also gives you an opportunity to  improve your 401(k) plan.

When we benchmark your plan, you arm yourself with knowledge about your plan that you might not otherwise have the ability to find on your own.

Specifically, our annual plan reviews empower you to:

  • Understand your fees and per-participant costs so you can ensure that what you’re paying for is in line with what’s expected for a plan of your size
  • Understand statistics for employees who participate in your plan, including:
    • Asset growth for the entirety of all participants in your 401(k)
    • Average account balance gives you insight into how much the average participant is contributing
    • Percentage of employees who choose to participate, so you can better understand how to help non-participating employees take advantage of the benefits of your plan
  • Compare Fund performance for all available asset selections in your plan, to give you a sense of which funds are meeting expectations
  • Identify the risk for each fund available in your plan so your participants can select assets that fit their desired level of risk exposure

Understand your plan and make the best choices for your company and plan participants. Contact Vision401k today to get started.

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Plan Sponsor Education Series