Menke has recently partnered with Empower Retirement, the 2020 Retirement Leader of the Year by the Mutual Fund Industry Awards and the 2nd largest retirement plan administrator in the U.S., serving over 41,000 organizations and 9.7 million plan participants, to present our newest strategic offering: combined 401k and ESOP Administration.
If your company sponsors an ESOP and a 401(k) plan, you know the frustration of having to deal with three sets of testing and compliance: one for your ESOP, one for your 401(k), and one to see how the two plans work together.
Working with two separate, unconnected administrative firms to handle all of this testing and reporting is inefficient, time-consuming, and leaves you vulnerable to reporting errors and compliance violations.
Some firms claim to bundle all your ESOP and 401(k) services under one roof, then steer you toward higher fees that they pass along to your plan participants and call it savings. When issues arise, they often lack the expertise in ESOPs' complex ERISA requirements to solve them effectively.
We believe that to achieve the best results, you need the best experts in each plan working together.
With Menke's Combined ESOP & 401(k) Administration Services, you get the benefit of the nation's premier ESOP advisors working in partnership with Empower to provide you with more streamlined, efficient, and cost-effective administration for both of your plans.
With our new partners, we are pleased to provide the following:
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| ● | Seamless communication and collaboration between your ESOP and 401(k) administrators. Integrated sponsor web platform makes it quick and easy to monitor both plans. |
| ● | Online portal with powerful, easy-to-use retirement planning tools for your employee participants. |
| ● | Open 401(k) architecture for plans of greater than $1 million--not restricted to proprietary funds. |
| ● | All fees disclosed up front, never any hidden charges. |
