How Employers Can Effectively Leverage a 401(k) Plan by Karen Sturdivant, on December 14, 2021 Saving and planning for the future is an important financial strategy. We want to make it easy for you and your employees to accomplish retirement savings goals. LandrumHR sponsors a multiple-employer 401(k) plan through Slavic 401k, making us the plan trustee and fiduciary that handles administrative responsibilities. Clients may adopt the cost-effective retirement plan and customize the eligibility requirement, vesting schedule, matching contributions and profit-sharing options. Outsourcing also means there’s no more loan and distribution processing, no IRS form 5500 for you to file, and no more plan audits! Additionally, the multi-plan design provides low-cost, no-load mutual funds from Vanguard, BlackRock, T. Rowe Price, American Funds, MFS and more. There is no cost to the client, other than the employer contribution, if elected. The worksite employer 401(k) has a value of at least $5,000 per year, and is at no additional cost because of the multi-plan design and the economy of scale of the overall larger plan. Highlighted features and cost-saving elements: Plan document costs and ongoing maintenance costs are included. Investment platform is not a commission-based product and comprises no load and low-cost mutual funds. These features make the plan a fraction of the cost of individually sold plans. Investment advice is included as part of the overall 401(k) plan and is provided by Slavic 401k. Managed portfolios are available to every participant. 401(k) plan compliance, administration, annual testing, recording keeping and IRS filings are all included as part of the overall plan and provided by Slavic 401(k). Clearing services are provided by Fidelity. Employee contributions, matching, profit-sharing contributions, loans and distributions are processed through LandrumHR’s payroll at no extra expense. The multiple-employer plan pricelessly allows the adopting company to bear no fiduciary liability through LandrumHR’s plan sponsorship. A Safe Harbor plan design is also available. Another way to save through partnering with LandrumHR is by taking advantage of our U.S. Savings Bonds purchase offerings. Ultimately, we manage your payroll and 401(k) to ease your administration load and give your employees the opportunity to save for their futures. If you would like more information about Slavic 401k you can call at 1-800-356-3009 x.7 or visit www.Slavic401k.com. Learn more about LandrumHR’s comprehensive employee benefits offerings. Karen Sturdivant Karen joined LandrumHR at the beginning of 2021 as a Benefits Director overseeing the day to day Benefits Operations, COBRA, Benefits Reconciliation and 401(k). She brings over 20 years of experience focusing in the Professional Employer Organization industry with a passion on educating and empowering teams for an overall personal and client service success. When Karen is not at work, she may be experimenting with crafts, colors or music. View more blogs by Karen Sturdivant 0 Expand Your Skillset and Get Extra Spending Money with These Entry-Level Jobs Eight Tips for Navigating Interviews During the Pandemic