The CMMA has establish a new member benefit: the CMMA 401(k) Retirement Plan. This plan has been established as a Multiple Employer Plan. A Multiple Employer Plan (MEP) arrangement offers adopting employers the ability to delegate fiduciary functions to the MEP provider. By joining the CMMA 401(k) Retirement Plan you are able to provide a powerful retirement plan, help save money, and spend less time administering it.
DON'T HAVE AN EXISTING 401(k) PLAN:
- Cost effective retirement plan
- No Individual Form 5500 Reporting
- Customizable Plan Design Options
- Minimal Plan Maintenance
- Tasks that can be shifted to Third Party:
- Administrative Responsibilities
- Employee Eligibility Tracking
- Distribution Processing
- Plan Compliance
- Nondiscrimination Testing
- Annual Reporting
- Participant Enrollment & Education
HAVE AN EXISTING 401(k) PLAN:
- Reduced Liability with 3(38) & 3(16) services
- Maintain your current plan design features
- No Individual Form 5500 Reporting
- Removes Audit Requirement
- Tasks that can be shifted to Third Party:
- Administrative Responsibilities
- Employee Eligibility Tracking
- Distribution Processing
- Plan Compliance
- Nondiscrimination Testing
- Annual Reporting
- Participant Enrollment & Education
- Potential Reduction in cost for both Company & Employees
- Minimal Plan Maintenance
HOW IT WORKS?
The CMMA 401(k) Retirement Plan, from a government reporting standpoint, is treated like one large plan. The end result for you is a 401(k) plan with competitive investments, outstanding service, and someone else doing a majority of the plan maintenance legwork.
STRENGTH IN NUMBERS TIME SO YOU CAN FOCUS ON YOUR BUSINESS
When you utilize the CMMA 401(k) Retirement Plan, you have all the advantages and flexibility of a stand-alone plan sponsor, but avoid the expenses and administrative burden associated with sponsoring a single employer plan.
WHAT WOULD YOU LIKE TO SEE IMPROVED WITHIN YOUR 401(k) PLAN?
Get in touch to learn more:
Contact Clint Nelson, CFP® of Qualified Plan Advisors
cnelson@qualifiedplanadvisors.com
952.767.3021