Employee 401(k) Plan Features
401(k) plans are highly flexible and can be tailored to fit your specific business needs. Whether it be advanced profit-sharing configurations or coordinated employee education initiatives, our service team is here to ensure exceptional delivery every step of the way
Mobile and Web Access
You can access your ShareBuilder 401k any way you want online, even via your mobile phone! Your employees can also review and manage their 401(k) accounts via their mobile devices. Online Education is available for employees and can be accessed via mobile devices as well. Of course, if there are ever any issues or just prefer to talk to someone, you can always reach us during normal business hours. We’re always happy to help with setup, rollout, payroll management, selecting investments, and more.
Online Enrollment, Videos, and Retirement Calculators
We make enrollment a paperless process! You can complete your plan’s set-up online, and we are here to help if needed. We also have educational tools to help employees learn about saving for retirement.
Roth 401(k) Option
This feature allows an employee to make after-tax contributions to a 401(k), up to the current employee contribution limits. Once in retirement, these funds aren’t taxed – even the earnings – during withdrawal. Note, that by regulation, all employer matches are made pre-tax. Employees have the choice to make use of the Roth 401(k) feature.
Employees Can Make the Following Type of Contributions into the 401(k) Plan:
- Contribute all your 401(k) withholding to the Roth, post-tax
- Split any withholding between pre-tax and post-tax 401(k) contributions
- Ignore the Roth option and contribute all your withholding pre-tax
The Roth 401(k) contributions may be best for those who think they’ll be in a higher tax bracket in retirement and can afford a reduction in take-home pay during their working years.
Loans and Hardship Withdrawals
401(k) loans offer you access to your account funds and can offer peace of mind that in an emergency, you can access your money without a tax penalty. Some considerations to consider include missing out on any compound growth that your investments would otherwise have earned in the market. In addition, the loans are repaid with after-tax dollars and the loan becomes fully due if you separate from your employer or will be subject to taxes including a 10% penalty if you are under 59 and half years of age.
Auto-Rebalancing (automatic rebalancing)
By taking advantage of auto-rebalancing, participants can buy or sell assets in a portfolio to maintain an original desired level of asset allocation. Participants can keep the appropriate amount of assets in each asset class (equity, fixed income, cash) and maintain it by taking advantage of auto-rebalancing. Asset allocation is often considered the most important aspect to manage when planning on how to achieve goals that are in line with an individual’s risk tolerance.
Investment Expertise and Support
There’s no need to do it yourself or pay other providers to help you—our Investment Committee services are included as part of every ShareBuilder 401k plan. This maximizes the fiduciary protection for you and your business and saves you the time, energy and expense of managing these reviews on your own. In addition, all of our Customer Success Managers and advisors are licensed to answer investment questions.