Please complete all required fields.
You are here: Home  News & Reports

SmartRETIRE 401k: Chamber Small Business Retirement Plan

SmartRETIRE 401kBusiness and Supplier Council Members of The American Small Business Chamber of Commerce are eligible to join SmartRETIRE 401k to save on the costs and administration of a flexible, quality 401(k) while accessing institutional level investments provided by Morningstar Managed Plan Solutions.

SmartRETIRE 401k is a Multiple Employer Plan 401(k) that gives small businesses the opportunity to secure high quality features at low cost and administration.  

SmartRETIRE 401k plan participants:
  • Significantly reduce the costs and administrative burden of maintaining a standalone plan
  • Eliminate Form 5500 filings and expensive plan audits*
  • Reduce their fiduciary exposure by outsourcing it to the SmartRETIRE 401k
  • Gain access to high quality investments
  • Obtain volume pricing through aggregation Investments independently managed by Morningstar Investment Services
Whether you are seeking to add a 401(k) to your business or would like to convert an existing plan to SmartRETIRE 401k, we're here to help.

*Did you know?  If your firm is growing to 100 employees you will be required to go through an annual audit of your stand alone 401(k) plan.  You can convert to the SmartRETIRE 401k Multiple Emplolyer Plan to avoid this cost and administrative burden.

We're Leveling the Playing Field

The U.S. Small Business Administration reports that small businesses face significantly higher costs when implementing and administering 401k plans. Consequently, a lower percentage of small business employers have 401(k) plans for their businesses than their big-business counterparts. This disparity can have very serious consequences for small business owners.

A 401(k) plan is a vital tool that helps businesses recruit and retain quality employees, grow competitively, lower taxable income, and invest tax-deferred savings to build retirement income assets for both the business owners and employees.

Seizing the opportunity to help our small business members become more competivive and gain access to the powerful tax savings achieved through a quality 401(k) plan, The American Small Business Chamber of Commerce leveraged our scale and market position to empower our Business and Supplier Council Members to join the SmartRETIRE 401k.

SmartRETIRE 401k is a “Multiple Employer Plan” 401(k) -- a strong and smart solution that empowers multiple small businesses to individually adopt into a single 401(k) plan thereby achieving great financial and administrative savings and risk transfer.


We Start With Top-Tier, Independent Investment Management

At the heart of any 401(k) plan should be a strong, independent retirement savings investment management.  We work hard for our money, and when we make the smart decision to establish a 401(k) retirement savings plan for our business and our employees -- our goal is to ensure our tax-deferred, investment portfolio is sound, growing and compounding over time in a way that keeps our asset management fees low and maximizes our returns.

Morningstar (MIS): One of the Most Trusted, Independent Investment Management Services

To assure our plan participants have access to quality, transparent, conflict of interest free investments, we selected Morningstar (MIS) to serve as the investment service provider for our plan. Morningstar’s (MIS) independence and trusted position in the marketplace matches our own strong independence and trusted position with our members.

Independent. Morningstar (MIS) is fully independent from the funds they select for our plan.

Proven, quality investments with investing style options. Morningstar (MIS) investment selections are rigorously monitored. Both passive ETFs and active mutual fund investments are available in our plan.

Strong investment assistance for all participants. Morningstar provides valuable and ongoing assistance for plan participants through online tools that assist participants in appropriate portfolio selection. Our support team provides one-on-one assistance for participants whenever requested to assure you always have the support you need.

Transparent, Respected Reporting. Morningstar (MIS) provides ongoing investment review, portfolio analysis and reporting.

SmartRETIRE 401k is Affordable Without Sacrificing Quality

Because SmartRETIRE 401k is administered at the master plan level, individual adopting employers benefit from administrative efficiencies that bring real cost savings without sacrificing the quality of the plan, support, education or investments..

We’re very proud to provide the SmartRETIRE 401k at such affordable pricing for our Business and Supplier Council members. The low Adoption and monthly Administrative Fees deliver real affordability for business owners. And, the very low Participant Fees assure that your retirement savings investments have the maximum potential for growth.

*What does Basis Point - bps mean? The financial industry commonly uses “basis points” to denote a rate change in a financial instrument. A basis point is a unit equal to 1/100th of a percentage point. For example, 60 bps = .60%.

Setup and annual administration fees may be eligible for a tax credit. Consult your accountant or tax advisor for additional details. Additional fees apply when electing certain contribution calculations, ad hoc compliance services, and transactions such as participant loans and distributions. **Weighted expense ratio fees for the ETF investment option average 16 bps. Weighted expense ratio fees for the Mutual Fund investment option after fund revenue offsets average 79 bps.
Tags: 401k, SmartRETIRE, retirement
Share |
No comments posted. Be the first one to comment.