Do you ever wish your life, or to-do list, at least, was simpler? I do. In fact, here are just a few things I wish were simpler:
- Assembling furniture (looking at YOU, IKEA)
- Traveling/getting through TSA security (wait, I need to take my snacks out of my bag?)
- Taking care of my dog (why is it impossible to cut her nails?)
- Making healthy choices (I love any form of potato and all sweets)
- Saving money (wait, my grocery bill last month was HOW much?)
I could go on and on and on, honestly. But, that might be a little…much (and definitely not simple!). SO, moving on. Did you know July 12th is National Simplicity Day? To celebrate, we’ve compiled a short list of retirement plan strategies for simplifying employers’ lives and their retirement plans. Check it out:
Consider a safe harbor plan or QACA.
Polly want a QACA? Let us explain… A safe harbor plan is one of the retirement strategies we recommend. It allows employers to skip non-discrimination testing by satisfying certain requirements. This also applies if an employer establishes a QACA (qualified automatic contribution arrangement), which is a form of automatic enrollment. If employers meet the requirements of adding a QACA to their plan, they can also avoid non-discrimination testing. These tests can be a source of stress and sometimes require costly or time-consuming corrections, so choosing one of these options can definitely simplify an employer’s retirement plan.
Enlist EGPS 3(16) fiduciary services.
Experience 3(16) and simplify your life 365…. EGPS 3(16) services significantly reduces the tasks associated with retirement plans for employers. We’re talking census data compilation, participant eligibility management and enrollment, compiling and distributing the Summary Plan Description (SPD) and Summary Annual Report (SAR), distributing annual notices, and much MUCH more. In addition, EGPS 3(16) services also help ensure retirement plans stay in compliance, so employers don’t need to worry. Talk about a simplifier!
Utilize our resource library!
No library card required… With complex rules and regulations that govern retirement plans, it can feel anything but simple. But if employers want to understand new legislation and what it means for them, the pros and cons of various plan types, and more, we’ve got ‘em covered. Simplify the search for information by visiting our resource library! Our video section includes several videos that break down important topics in 3 minutes or less. Prefer to read? We most likely have a PDF or blog that covers what you’re looking for! We specialize in making the complex simple, so check it out! It’s completely free.
Interested in more information on setting up a safe harbor plan or QACA? Want to learn more about our 3(16) services? Simply looking for a resource on a specific topic? Fill out the form below and we’ll reach out to answer any questions you may have!
