Did you know?
of employees would not work for an employer that doesn't offer a 401k plan.
A 401k is the 2nd most sought-after benefit next to healthcare.
of employees would stay if their current company offered them a 401K plan.
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Set up in just 5 minutes.
Offer Your Employees a Hassle-Free & Cost-Effective Retirement Plan with PNI•401k
Powered by our friends at Prosper Retirement, who leverage technology to make the plan easy to install and maintain, you and your employees will benefit from flexible plan designs, pre-tax and post-tax options, and fast plan establishment and smooth rollover processes.
You can rest easy knowing your company’s retirement plan is being managed by professional fiduciaries.
- 5-Minute Plan Establishment: Our intuitive online Plan Establishment process enables employers to set up their plan in a matter of minutes - compared to weeks with traditional providers.
- Efficient 360 Payroll-Integration: Our 401k technology platform seamlessly integrates with isolved to ensure your retirement and payroll records are routinely synchronized.
- Institutional Investment Access: Our open-architecture investment platform allows access to mutual funds, CITs, and ETFs, as well as institutional share classes that save participants money.
- Complete Fiduciary Protection: Our solutions are designed to provide outsourced fiduciary services that can mitigate or relieve business owners of the traditional fiduciary burdens under ERISA.
How a PNI•401k Empowers Businesses & Employees to Save More
By setting up a regular 401k plan, you and your employees can really boost the contributions to your retirement accounts. With an Auto-IRA, the yearly contribution limits are lower, and employers can't make discretionary contributions to employee accounts. These limitations really put a cap on how much your workforce can save up for retirement in the long run.
Below is an example of what it would look like if an individual maxes out their retirement savings in a State Auto-IRA versus a PNI•401k over a 20-year period - assuming the same 5% rate of return.
Hypothetical savings based on a $6,500 annual contribution for an Auto-IRA account versus a $22,500 annual contribution for PNI•401k over a 20-year period.*
*A hypothetical future account value is not inclusive of tax effects, which will vary by state and an individual’s MAGI tax rates. The information provided here is for general informational purposes only.
PNI•401k's Integration with isolved HCM
With the 360 integration (two-way), managing plan deduction and contribution information is a breeze for both administrators and employees.
The integration seamlessly handles all of the data stored in isolved, resulting in a smooth and effortless experience. The data flows directly to the 401k account, enabling automated fund movement in employees' 401k accounts every pay period.
Why should you adopt a company-sponsored PNI•401k plan?
Online Account Creation & Enrollment
A low-cost, secure, cloud-based plan establishment and employee enrollment process.
Automatically Integrated with isolved
An automatic 360 payroll integration (two-way) with isolved HCM.
Access to Institutional Investments
Our open-architecture investment platform allows access to mutual funds, CITs, and ETFs.
Matching Tax Credits
Up to $175,000 in matching tax credits are available for the first 5 years of employer contributions.
Dedicated Help Desk
With 3(38) Fiduciary Investment Advice and 3(16) Fiduciary Plan Administration.
Plan Design Flexibility
Opt to match or not match employee contributions and gain access to cost-effective investment options.
Discover how a PNI•401k can help you and your employees save for retirement.
to State-Mandated Auto-IRA
Setting Up Our 401k Plan is Easy!
Complete and sign the plan joiner agreement via a DocuSign document.
Web-based employee enrollment and education.
Set payroll to withhold amounts from employees’ paychecks.
PNI•401k Plan Pricing
All plans have a $6 per participant fee.
Standardized Plan Design:
Standardized Plan Design:
Requires All Documents
Flexible Plan Design:
Discover more about the PNI•401k plan by reaching out to us today.
Learn More About Our PNI•401k Program
Frequently Asked Questions
What is a Pooled Employer Plan (PEP)?
A Pooled Employer Plan is a retirement plan among independent businesses that are not commonly owned or affiliated, and who want to share the costs and reduce the administrative burdens of providing a workplace retirement savings plan for their employees.
These independent businesses are referred to as “adopting employers” when they elect to join a PEP.
Who is a Pooled Plan Provider (PPP)?
A Pooled Plan Provider is a group that sponsors and maintains a PEP for the benefit of Adopting Employers.
The PPP serves as the named fiduciary, as defined under ERISA Section 402(a). The PPP is the fiduciary responsible for processing participant claims and appeals, as well as being responsible to obtain the annual audit of the PEP on behalf of all Adopting Employers.
How does a Pooled Employer Plan work?
Offering a workplace retirement savings plan is most often done with the best of intentions, yet carries a heavy burden of accountability as a fiduciary. A PEP assembles a team of outsourced professional fiduciary service providers to manage your company’s retirement plan.
What are the 3(16) Fiduciary Administrator responsibilities?
As the named fiduciary under ERISA Section 3(16), the Fiduciary Administrator is responsible for the day-to-day operations of your 401(k) plan.
Furthermore, the 3(16) serves as the fiduciary responsible for processing participant loan & distribution requests as well as making beneficiary determinations. Additionally, the 3(16) is responsible for procuring the required ERISA Fidelity Bond and the timely filing of the annual Form 5500 information returns for the PEP.
So, overall, the named 3(16) Fiduciary Administrator is required to perform all the functions necessary to maintain your plan’s ongoing compliance – relieving all Adopting Employers of these burdens.
What are the 3(38) Investment Manager responsibilities?
The designated Investment Manager under ERISA 3(38), it is the fiduciary responsible for the selection and monitoring of the available investment options - in accordance with the PEP’s established Investment Policy Statement (IPS).
The 3(38) fiduciary is also responsible for ensuring that it is accessing the most cost-effective share classes of every investment vehicle, including the collection of any available revenue-sharing dollars for the benefit of the Plan.
Finally, the 3(38) fiduciary is responsible for managing the model allocation portfolios offered to all employee participants of Adopting Employers.
What's a Plan Concierge?
Your Plan Concierge plays a vital role in supporting Adopting Employers, providing strategic plan design consulting and tactical operational assistance. The Plan Concierge will also be able to help with satisfying your due diligence programs and fiduciary oversight functions.
Your Initial Responsibilities:
- Evaluate the Platform
- Determine whether Costs are Reasonable
- Monitor PEP Service Providers
Your Ongoing Responsibilities:
- Managing Employee Census
- Timely Submission of Payroll & Data
- Validate Year-end Data for Annual Compliance Testing
What does it mean to engage professional fiduciaries for your company’s retirement savings plan?
One of the core duties of every fiduciary of an employer-sponsored retirement savings plan is to act solely in the best interests of plan participants and their beneficiaries. ERISA allows plan sponsors to outsource some of their duties to professional service providers.
In fact, the U.S. Department of Labor recognizes that plan sponsors will almost certainly hire service providers to assist them with fulfilling their fiduciary responsibilities.
So, by choosing a PNI PEP 401k plan, you will have engaged outsourced professional fiduciary service providers - with the requisite knowledge and skill to expertly manage your 401k Plan.