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A 401(k) Plan to Serve 2-10 Total Employees
The ShareBuilder PLAN4TEN is specifically designed for small businesses with 2 to 10 total employees who desire an easy-to-operate 401(k) plan. PLAN4TEN is a 401(k) Safe Harbor plan that satisfies the nondiscrimination rules for elective deferrals and employer contributions. PLAN4TEN also serves as an excellent migration solution for owner-only businesses that already have an individual(k) plan when they hire their first employee.
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For Plan Sponsor:
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- Accommodates organizations with 2-10 total employees
- 401(k) safe harbor plan with choice in safe harbor employer contribution
- Discretionary profit sharing contribution
- Non-discrimination tests are satisfied
- Allows for higher deferral limit than a SEP or Simple IRA
- Exact daily valuation with real-time access to plan information
- Allows for account consolidation and rollovers
- Government tax reporting – including 1099R and signature-ready Form 5500
- Administrative Manual and Forms Kit
- Non-standardized Prototype Plan Document and Adoption Agreement
- Summary Plan Description (SPD) and Loan Policy
- Sample Board of Directors Resolution
- Compatible with most major payroll providers
- Web based contribution processing and ACH payment of deposits
- Accommodates integration with social security
- Access to purchase a required ERISA Fidelity Bond
- Full-service, online access to administer and monitor plan
- Toll-free access to customer service support
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For Employees:
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- Retirement investing with a diverse list of index funds across multiple asset classes
- Higher contribution limits
- Model portfolio selections designed for different investing goals
- Full-service, online access to check balances and manage account
- Online enrollment
- Online statements
- Annual statement mailed to the employee's home
- Access to tax-free loans
- Allows for account consolidation and rollovers
- Toll-free access to customer service support
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