401K MEP Retirement Plans & Cost Savings for Businesses

401K MEP Retirement Plans & Cost Savings for Businesses

Discover how we can help you reduce administrative burdens, strengthen compliance, and maximize savings for your business. 

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401K MEP Retirement Plans & Cost Savings for Businesses

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Built By Retailers, Designed For Your Success

Running a small retail business means juggling countless responsibilities, from managing inventory to ensuring exceptional customer service—it's a lot to handle. That's why the Alliance of State Retail Associations 401k Plan & Trust, a closed Multiple Employer Plan (MEP) designed by retailers for retailers, is here to help. We understand the unique challenges retailers face, and our MEP retirement plan for small business is tailored to reduce administrative burden 401k providers typically create. With our comprehensive solution, you can confidently provide small business retirement plans to your employees through 401k plan outsourcing that delivers real 401k plan cost savings, freeing up your time to focus on what truly matters: growing your business.

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How Our MEP Simplifies Retirement Plan Management

Administrative relief and reduced fiduciary responsibility are two primary benefits for adopting employers in our MEP retirement plan for small business. Here's how our structure streamlines your retirement plan management: 

Compliance Testing

The plan's service providers handle all aspects of compliance testing, including preparing census data and providing documentation to the recordkeeper—a key advantage of 401k plan outsourcing.

Increased Negotiating Power

By aggregating assets under a single plan, MEP adopters may achieve economies of scale typically enjoyed by much larger plans. This delivers 401k plan cost savings that lower investment and administrative fees and improve service levels for participants.

Form 5500

You no longer need to complete a Form 5500. A service provider on the plan files one form covering all adopting employers, helping to reduce administrative burden 401k plans typically require.

Audit

Your organization can offload the required audit, which will be handled at the plan sponsor level.

Personalized Employer 401k Microsite

Maximize Your Savings With Federal Tax Credits

Start Up Tax Credit

Start Up Tax Credit

Eligible employers may receive a tax credit of up to $5,000 per year for the first three years of the plan, effectively covering a substantial portion of the administrative expenses associated with setting up and maintaining small business retirement plans. 

Employer Contribution Tax Credit

Employer Contribution Tax Credit

For eligible employers that make contributions to employee retirement accounts, such as a 401(k) or SIMPLE IRA, the SECURE 2.0 Act offers a credit equal to 100% of qualifying contributions made for employees who are eligible for the plan. This credit can be up to $1,000 per employee per year for the first five years the plan is in place, delivering significant 401k plan cost savings. 

Auto-enrollment Tax Credit

Auto-enrollment Tax Credit

The SECURE 2.0 Act includes provisions aimed at enhancing retirement savings through the establishment of automatic enrollment in employer-sponsored retirement plans. One significant feature of this legislation is the introduction of a tax credit for small businesses that implement automatic enrollment in their MEP retirement plan for small business. 

See How Your Plan Stacks Up Against The Competition

To facilitate informed decision-making, a complementary benchmark analysis can be provided for interested employers. This analysis will compare their current small business retirement plans features and costs against industry standards, highlighting areas for improvement and potential 401k plan cost savings. By understanding how their offerings stack up against competitors, employers can make strategic adjustments to enhance their benefits package and identify opportunities to reduce administrative burden 401k plans typically create.

Plan Bench Marking

Comprehensive 401k Solution

Mep AdvantageAsra Included
Flexible Plan Design
Eliminate Annual Audit
Eliminate Form 5500
Eliminate Fidelity Bond
Ellminate Fiduciary Liability Policy
3(38) Discretionary Investment Oversight
Institutional Investment Menu
3(16) Plan Administration
Payroll Integration Available
BYOA (Bring Your Own Advisor)

Technology That Makes Retirement Planning Effortless

Our MEP retirement plan for small business provides participants with a modern, user-friendly plan portal that makes managing retirement savings simple and accessible, with real-time access to account balances, investment options, and personalized retirement planning tools. For employers, the portal streamlines plan administration and reduces administrative burden 401k management typically requires, with automated reporting, compliance tracking, and easy access to plan documents. This comprehensive digital experience ensures both employers and employees have the information and tools they need at their fingertips, making 401k plan outsourcing seamless and efficient.

Robust Technology

Robust Technology

Interactive Participant Experience

Interactive Participant Experience