August 6, 2012 (PLANSPONSOR.com) - Targeted at small businesses, 401KAdministrationServices.com is a new specialized full-service 401(k) plan recordkeeping service.
IRA Financial Group, a provider of self-directed IRA and 401(k) plans, said the service will give small businesses an IRS preapproved retirement plan that is fully customizable and that is not tied to a specific financial institution or financial investment program.
The small-business client will be able to control the investments offered and retain control over all plan options while the service’s Employee Retirement Income Security Act (ERISA) providers handle recordkeeping responsibilities and requirements.
Clients of the service work directly with ERISA attorneys to establish and maintain their company’s 401(k) retirement or profit-sharing plan, according to Adam Bergman, a tax attorney with the IRA Financial Group. The firm’s ERISA attorneys and 401(k) experts take care of small-business retirement plans, recordkeeping and administration services to ensure that the retirement plan remains ERISA compliant, Bergman said.
The service works directly with a number of investment providers for an unbundled investment approach. Diversified investment programs, no-fee and load fund options, adviser support, and communication and education tools are available through its investment providers, according to IRA Financial Group.
More information is available here.