Services - 401(k) Retirement Savings Plan
ESS’s philosophy is that a retirement plan is one of the most important benefits employers can offer. Most financial advisors will tell employees that a 401(k) retirement savings plan is the best way to save for retirement. Employer Support Services, Inc.’s 401(k) plan allows its clients to offer a high quality retirement plan to their employees at a very minimal cost.
Flexibility, service, and low maintenance are employer keys to a successful plan. Investment options, service, and education are employee keys to a successful plan. ESS delivers all of these to its clients and their employees.
When utilizing ESS’s retirement savings plan employers no longer have to worry about plan documents, summary plan descriptions, accumulating payroll and contribution data for discrimination testing, audits, and 5500 filings.
ESS offers more administration than any other 401(k) plan. Traditional retirement plans burden employers with expensive outsourced administration while leaving them with a significant amount of in-house administration and oversight.
Services provided with plan:
- Discrimination testing
- 5500 tiling
- Audit
- Enrollment materials
- Employee statements
- Internet account access
- Large list of fund choices
Additional services offered by ESS beyond what traditional retirement plans can provide:
- Plan document compliance
- Summary plan description compliance and distribution
- Setup of employee deductions and calculation of employer match
- Remittance of funds to 401(k) administrator
- Data remittance for discrimination testing
- Data remittance for 5500 form
- Administration of the annual audit
- Lower cost to employees and employer