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Combo Plans

ERISA Investment Fiduciary Fees

Plan fees will be determined based on the type of retirement plan offered to your employees. Below is a fee breakdown for a combo plan that includes both a Defined Contribution and a Defined Benefit Plan.

FPLCM – Annual & One-Time Setup Fees

Our fee structure depends on the type of ERISA Investment Fiduciary Services we will be providing for your retirement plan. 

DEFINED CONTRIBUTION PLANS – ERISA 3(38) SERVICES
Plan SizeAnnual FeesOne-Time Setup Fees
Fewer than 100 Participants$2,500 + $200/PPT$2,500 + $100/PPT
100 to 199 Participants$7,500 + $200/PPT$7,500 + $100/PPT
200 to 299 Participants$12,500 + $200/PPT$12,500 + $100/PPT
300 to 500 Participants$17,500 + $200/PPT$17,500 + $100/PPT
Greater than 500 ParticipantsContact for PricingContact for Pricing
Start-Up Plans Qualify for a Discounted Rate of 0.70% Plan Asset till Plan Reaches $357,000

Click here for ERISA 3(21) Fee Schedule

 

DEFINED BENEFIT/CASH BALANCE PLANS – ERISA 3(38) SERVICES
Plan AssetsFee RateMin Annual FeeMax Annual Fee
Between $0 – $5M0.70%$2,500$5,000
Between $5M – $10M0.70%N/A$10,000
Between $10M – $15M0.70%N/A$15,000
Greater than $15M0.70%N/A$20,000
One-Time Setup Fee is $2,500

Recordkeeping, Third-Party Administrator, and Custodian Fees

Recordkeeping, Third-Party Administrator, and Custodian fees are in addition to our annual ERISA Fiduciary fee. We utilize Vanguard Retirement Plan Access platform for Recordkeeping and Custodian services. You may use a TPA of your choice. However, our main TPA relationship is with Farmer & Betts.

Click here for Vanguard Recordkeeping Fees

Click here for Farmer & Betts Third-Party Administrator Fees

Up to $16,500 in Tax Credits for Small Business Retirement Plans

The SECURE Act, passed in 2020, has been one of the most comprehensive updates to retirement plans in more than a decade. One of the major benefits of the bill is the Small Business Tax Credits.

Companies with up to 100 employees can claim a tax credit to offset startup costs associated with establishing a new 401(k) plan. Companies can get a tax credit of up to $5,000 per year for the first three years, with a maximum total credit of up to $15,000. Startup costs include:

  • Annual and setup fees for Third-Party Administrator services
  • Annual and setup fees for ERISA Fiduciary services
  • Annual and setup fees for Recordkeeping services

Furthermore, there is also a $500 tax credit available for plans that add an automatic enrollment feature to a new or existing retirement plan for participants. This credit is also available for the first three years the feature is effective, with a maximum total credit of up to $1,500. This means that the total maximum eligible tax credit for establishing a 401(k) plan is $16,500 for the three years.

To learn more details about the IRS tax credits, click here.