401K information

You can love your 401(k).

We challenge you

to find a 401(k) on the market that is easier, more compliant, or safer.

Full stop.

Many employers have concerns about having a 401(k).

Why?

  • They’re time-consuming to administer: too much work has to be done by the person or people who have the retirement plan responsibility.
  • They’re difficult to keep in compliance: The EBSA reported in FY 2015 67.3% of company’s 401(k)s that are audited by the Department of Labor fail the audit, resulting in average fines of $285,000. This has culminated in a cost of $5.6B over the last 4 years.
  • They can carry huge liability exposure. Most people don’t even understand the risk they are accepting when offering a retirement plan – but anyone who understands the risk doesn’t want it!
  • They can be expensive for the companies offering them.
  • There are a lot of providers – how do you know you are getting the best?

These are all valid concerns—but the fact is this:

A 401(k) may be the biggest hiring and retention feature a company can employ.

So how do you overcome all these concerns and take advantage of all the hiring and retention benefits?

Pick the CorpStrat Retirement Solution, powered by Navalign

EASE OF ADMINISTRATION

401(k)s take a lot of up-keep.

As a result, they take a lot of employee hours, which more often than not costs you as an employer more money. With CorpStrat resources at the helm of your retirement plan, you can stay on top of your business, knowing that the day-to-day responsibilities of your plan are being looked after.

Without CorpStrat

3(38) Investment Manager Appointment

402(g) Limit Reporting

404(a)(5) Notice Distribution

404(c) Notice Distribution

408(b)(2) Notice Distribution

Annual Discrimination & Coverage Testing

Audit Completion Support

Audit Firm Hiring & Monitoring

Auto Enrollment Notice Distribution

Beneficiary Designation Form Maintenance

Beneficiary Determinations

Blackout Notice Distribution

Census Review

Corrective Distributions

Death Benefit Approval

Distribution Reporting

DOL and IRS Issue Resolution Assistance

Eligibility Calculations

Eligibility Notifications

Employer Contribution Monitoring

ERISA Bond Review

Error Correction Monitoring

Fiduciary Insurance Coverage Review

Force Out Processing

Form 5330 Preparation, Signing, & Filing

Form 5330 Preparation, Signing, & Filing

Form 5500 Preparation, Signing, & Filing

Form 8955 Preparation, Signing, & Filing

Fund Change Notice Distribution

Hardship Withdrawal Approval

Loan Approval & Reporting

Loan Default Monitoring

Loan Policy Administration

Lost Earnings Calculations

Participant Enrollment Assistance

Payroll Aggregation

Payroll File Aggregation

Plan Design Review

Plan Document Interpretation

Plan Document Preparation & Archiving

Plan Irregularity Notification

QDIA Notice Distribution

QDRO Determinations & Reporting

Quarterly Investment Review Meetings

Rate Changes Monitoring & Reporting

Required Minimum Distributions

Safe Harbor Notice Distribution

SAR Production & Distribution

SMM Notice Distribution

SPD Production & Distribution

Spousal Consent Approvals

Termination Date Verification & Maintenance

Termination Withdrawal Approval

Top Hat Preparation, Signing, & Filing

Trustee Duties

Vesting Verification & Tracking

Year End Data Collection & Review

With CorpStrat

Upload Payroll Files to CorpStrat

Monitor CorpStrat Plan

Provide Year-End Data for Testing

CONSISTENT COMPLIANCE

Every 401(k) has to take governmental compliance seriously.

CorpStrat administered plans are consistently compliant, so IRS and DOL audits are a breeze. No CorpStrat administered program has ever failed a DOL audit.

Average Retirement Plan Audit Duration

Without CorpStrat: 42 Days in your office

With CorpStrat: 10 Days in our office

FIDUCIARY LIABILITY PROTECTION

The responsibility of a 401(k) should never be undersold.

This is not a scare tactic, it’s a fact! 67.2% of company’s 401(k)s that are audited by the Department of Labor fail the audit. Since the DOL’s concern for retirement plans, above all else, is that the plan is being run for the benefit of the employees, any failings in plan administration can end up being an extremely costly problem.

Most 401(k)s place the Fiduciary Responsibility, and by extension, risk, solely on the Plan Sponsor — meaning YOU!

Many providers in the retirement plan market say they offer “Fiduciary Liability Protection” in their marketing material, but in a court of law, they flatly refuse any liability. CorpStat, in the course of plan administration, is listed as the Named Fiduciary on your plan – meaning that with the CorpStrat Program, you are protected to the highest degree in the industry.

Your Responsibilities
Without CorpStrat

Plan Administration

Named Fiduciary

Risk Management

Record Keeping

Investment Management

Auditing

Your Responsibilities
With CorpStrat

Monitor CorpStrat Plan

COST CONTAINMENT

Lower Plan Cost

CorpStrat’s Plans are built on an “aggregated” model. This model combines multiple employer’s 401(k)s together under a single “End to End” retirement program. Every employer in the plan benefits from this aggregation in the form of enhanced services and lowered costs. Employers receive services that most providers don’t offer – and because the services are being offered to many at once, CorpStrat’s plan costs are the same or lower than those providers.

No Fines or Penalties

Because we keep your plan consistently compliant, you will not be subject to fines and penalties resulting from IRS and DOL audits.

Liability Protection

Due to our industry-leading 3(16) fiduciary liability protection, your risk of loss of personal wealth resulting from fiduciary liability action is greatly reduced.

Lower Staff Costs

Because CorpStrat fulfills 99% of plan administration duties, you don’t need to have the cost of an employee or department focused on retirement plan administration. Your employees can stay focused on moving your business forward.

The CropStrat retirement plan – powered by:

Want to know more?

US based Phone Number in the format of: 123-456-7890

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So there you have it.

The Best 401(k)
Ever Built.