Retirement Plan Management

Plan Sponsors/Employers are becoming more and more frustrated with the increasing amount of time it takes to deal with administrative issues, compliance issues, documentation, tax reporting and now new fee disclosure requirements—just to offer a simple way for their employees to save for retirement. All of these take time away from running their business!

An "Open" Multiple Employer plan can reduce risk, save time, eliminate headaches and most of all save money!

What is an "Open" MEP?

MEP stands for Multiple Employer Plan and is an IRS Code that was established with ERISA in 1974. Under this code, The Architect 401(k), LLC established a master plan document, approved by the IRS, where any business that currently has a retirement plan or wishes to establish one can join The Architect 401(k) MEP retirement plan—hence the term "Open" MEP. When your company does this, The Architect 401(k), LLC becomes the Plan Sponsor, Plan Fiduciary, Plan Trustee and Plan Administrator. It's just like outsourcing your 401(k) plan to a company that administers plans full time.

When you join The Architect 401(k) MEP, you will continue to have all the freedom you have today to design your retirement plan exactly as you do now, or we will help you build a plan design that will be better suited for you and your employees to maximize tax benefits and deductions that are allowed in the 401(k) retirement plan industry.

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Cost-Saving Opportunities

No more plan document costs

Frequently, retirement plan laws change. As the Plan Sponsor, you are required to amend your plans on a regular basis, known as interim amendments. Recently, the Department of Labor changed the law to require that every six years all 401(k) plan documents must be restated. Making these amendments and restatements can cost your company thousands of dollars. With The Architect 401(k) MEP, when you adopt our Master Plan Document, we become the Plan Sponsor and it automatically becomes our responsibility to maintain your plan document—keeping it current and saving you money.

No additional tax filing costs

If you sponsor your own 401(k) plan, you are responsible for making sure your IRS Form 5500 is filed every year. As an adopting employer, under The Architect 401(k) MEP, we are responsible for capturing all the data necessary to file your tax return and we are responsible for making sure your return gets filed.

No more plan document costs

As retirement plan laws change, Plan Sponsors are required to amend their plans on a regular basis, with the newest law requiring the restating of plans every six years—which could cost thousands of dollars. When working with The Architect 401(k), LLC, other than a small initial set-up fee, your adoption agreement and all interim legislative amendments will be kept current and maintained by The Architect 401(k) MEP plan, including the six-year requirement for restatement.

No additional tax filing costs

As a Plan Sponsor, you are required to file an IRS Form 5500 each year. As an adopter of The Architect 401(k) MEP, we are responsible for capturing all the data from each adopter and filing your IRS Form 5500 on your behalf for all adopters.

No more compliance testing costs

Most non-Safe Harbor plans must comply with annual non-discrimination testing to ensure these plans do not favor the owners and/or highly compensated employees. The cost for testing can reach thousands of dollars each year. The annual expense for compliance testing and administration is included in the pricing of The Architect services

Reduced administration and fund fees

Because many adopters have come together to form this MEP, through economy of scale we are able reduce the cost for recordkeeping and administration. We are also able to reduce fund fees by selecting the lowest-cost share class of mutual funds and ETFs on our investment platform, while still maintaining an industry-leading fund line-up selected by our independent third-party 3(38) Registered Investment Advisor (RIA).

Saves time in daily oversight

Many employers assign a key person in their firm to monitor, administer, track and oversee the daily operations of their retirement plan. The Architect 401(k) MEP will free up valuable time for this key person, allowing them to focus on other important issues that may help the company be more efficient and profitable.

Benefits

As an adopting Employer, you will receive all the extensive and comprehensive benefits offered by a state-of-the-art, low-cost retirement plan for your employees. You will avoid all the headaches and hassles of administration and oversight, as well as reduce the risk of sponsoring your own plan.

The Architect 401(k) MEP takes over the day-to-day operations of your plan as it relates to enrollments, notifications, administration and documentation—leaving more time for you and key employees to focus on business at hand.

As the Plan Administrator of The Architect 401(k) MEP, we will be completing and filing the IRS Form 5500, with your authorization. We monitor all the administrative functions, as well as provide service for plan provisions, such as loans, distributions, vesting, terminations and hardship withdrawals. We also make sure all employee notices are sent out, including Safe Harbor Notices, Required Minimum Distributions (RMDs), Summary Plan Descriptions, Summary Annual Reports, and the new Annual Fee Disclosure with Benchmarking Notices. Another key feature of our plan is our Co-fiduciary, 401(k) Advisors, an industry-leading ERISA 3(38) RIA fiduciary. By working with a fiduciary, we have transferred responsibility and liability to them, with respect to investment selection, monitoring and replacement of funds.

The Architect 401(k)

The Architect 401(k) LLC was established for the sole purpose to help employers today walk through the many land mines of the 401(k) retirement plan industry. We know all you want is an easy way for you and your employees to save for retirement without all the headaches and hassles of managing your own retirement plan that the government and DOL have put upon you. The Architect 401(k) MEP takes the risk and responsibility of offering a 401(k) retirement plan off your plate. We have created an easy way for you to offer a low-cost, high-efficient retirement plan to your employees and get rid of what we call the “Hassle Factor”! The Architect becomes a single point of contact for you and your employees, eliminating confusion and enhancing the retirement plan experience. We take over all the day-to-day operations of running and administering a 401(k) plan. We believe this will be the last retirement plan you will ever switch to, because you will never want to go back and do it the “Old Fashion” way again!