How We’re Different
Small employers have often shied away from 401(k) retirement plans because of prohibitive setup costs and burdensome administrative duties. Yet most employers want to provide a way for their employees and themselves to save for a more secure financial future. Using a multiple employer model, the Association of Washington Business has designed the MyFuture 401(k) Plan to provide options and flexibility that would not be affordably available to smaller companies, as well as for larger companies looking for more options for their employees.
Read on to learn how we're different.
No Setup or Conversion Fees
Many small business owners have avoided 401(k) retirement plans because of the high cost of setting up a traditional plan. The MyFuture 401(k) Plan is anything but traditional. For starts, you pay no setup or conversion fees as long as you are timely in completing our setup process. How’s that for low cost!
Administrative Hassle: Gone
You’ve got a business to run. The last thing you need is more paperwork from a traditional 401(k) plan. With MyFuture 401(k), virtually all plan level administration is done for you. We review, sign and file your 5500, approve loans and distributions, and can even provide payroll and HSA integration depending on your payroll and HSA providers.
MyFuture 401(k) reduces the fiduciary burden on business owners. We keep your plan in compliance and appoint professional fiduciaries to sign and act in the administrative and investment related fiduciary roles. This greatly minimizes the risk of administrative mistakes, government audits and employee lawsuits.
Trusted Financial Advisors
Key to a successful 401(k) plan is the active participation of trusted financial advisors, for business owners, and their employees. Integrity Financial Corporation helps you design a plan that meets the unique needs of owners and that incentivizes employee retention and participation. Their personalized employee education program includes on-site group enrollment meetings and one-on-one financial planning, ensuring each participant understands the benefit being offered and receives tailored investment advice.
Self-Directed Investments, Local Support
MyFuture 401(k) Plan offers employees the ability to build their own asset allocation models. Additionally, on-site assistance is available from a trusted local investment advisor. Participants can select their own portfolio strategy from the monitored lineup of investments or choose one of the risk-based managed portfolios. This allows them to customize their investment choices to coincide with their individual risk tolerance and investment goals.
Powerful Online Tools to Help Invest Easier, and Smarter
Whether employees are on the move, or relaxing at home, access to a rich set of online tools complete their investment experience. From historical performance, to personalized rate-of-return reporting, participants can stay current within an ever changing landscape of financial investments available with MyFuture 401(k). Regardless of the size of your business, we have tools and products that fit your unique needs.
At AWB, We Understand Your Business
The Association of Washington Business (AWB) has served small and large businesses since 1904. Whether you're a small startup or a large company with thousands of employees, we understand the challenges you face every day on the frontline of our economy. We also know you care about your employees and want to help them secure their financial future. MyFuture 401(k) has been designed with you in mind. Call us today at 800-794-4015 to schedule a free consultation with one of our financial advisors. We'll tailor a retirement plan just for you.