Some of Mrs401k's features:
- Set up and run a 401k plan for your company
- Set up and run 401k plans for other companies
- Customize plan terms
- Implement auto enrollment, auto re-enrollment after opt out and auto escalating employee deferral amounts
- Offer discretionary or mandatory matching or elect not to match all
- Calculate contribution limits
- Allocate profit sharing contributions
- Keep track of 20 different types of contributions into a 401k plan
- Comply with reporting and testing tasks
- Mrs401k is a secure and encrypted website with your own personal online file cabinet
- File Forms 5500 and 5500-SF and schedules directly from Mrs401k to the U.S. Department of Labor
- Mrs401k determines employee dates of eligibility and dates of entry into the plan
- Mrs401k determines key and highly compensated employees
- Distribute employee forms and notices at the touch of a button
- Keep track of all 401k correspondence, forms and notices sent to employees
- Process plan distributions, Mrs401k will instantly generate and file Form 1099-R
- Offer both pretax and ROTH after tax accounts
- Offer loans and track current loan balances. Loans are available from any brokerage house or investment account
- Operate a Safe Harbor 401k Plan
- Reconcile matching contributions
- Upload payroll data
- Search, re-order, print, and export all data
- View administrative fees paid and owed
- View all of your accounts consolidated under your adviser login
- View account breakdown by contribution source
- View historical account balances
- View vested and unvested account balances, generate and send quarterly pension benefit statements to employees
- View Employee salary deferral contributions
- View Matching contributions
- View Profit sharing contributions
- View Rollover contributions
- View In-service distributions
- View Qualified rollovers
- View Early withdrawals
- View Loans, Hardship withdrawals, etc.
- View Plan documents, employee enrollment notices, forms and instructions
- View Loan applications and promissory notes
- View Online employee census
- View Real time discrimination testing, ADP, ACP , minimum coverage and top heavy testing
- Investment agnostic, open architecture
- Unbundled stand alone third party administration charged to the employer from outside plan assets
- Fiduciary's dream: separate out the record keeping and administration charges and let them be borne wholly by the Employer/Plan Sponsor
- Fiduciary protection: Employees can never make a claim for excessive administration fees.
- Fiduciary best practices: Plan Fiduciaries never invade employee accounts for administrative fees, thereby placing participant interests ahead of its own.
- No revenue sharing, no conflicts of interest. Mrs401k does not get paid to steer or suggest investments, or advisers
- Use your own adviser, brokerage, custodian or clearing firm
- Employers may register directly with Mrs401k or use any financial advisor
- Employers may use any human resource staff, service, software or solution
- Employers may use any Accountant, Bookkeeper or Payroll service or software
- Employers and financial advisers may use any investment provider, brokerage, custodian or clearing firm or combination of such investment providers to provide investments to the plan
- Participants may have managed, advised or self-directed accounts
- Participants may invest in thousands of stocks, bonds, mutual funds
- Participants may invest in ETF's and options
- Participants may have both pretax and ROTH after tax 401k trust accounts
- Compliance made easy
- View current and prior year testing results
- Plan fiduciaries can receive statutory 404c protection. (404(c) provides fiduciaries of compliant plans with relief from liability for the investment decisions made by participants)
- Mrs401k integrates with your current payroll service. No rekeying information
- Mrs401k is approved by the U.S. Department of Labor to electronically file Forms 5500 and 5500-SF and all accompanying schedules