You can love your 401k.
Contact UsWe challenge you
to find a 401k on the market that is easier, more compliant, or safer.
Full stop.
Many employers have concerns about having a retirement plan.
Why?
- They're time-consuming to administer: too much work has to be done by the person or people who have the retirement plan responsibility.
- They're difficult to keep in compliance: hey are difficult to keep in compliance – The EBSA reported in 2018 that 65% of retirement plans audited by the Department of Labor failed the audit resulting in large fines and penalties.
- They can carry UNWANTED liability exposure. Most people don’t even understand the risk they are accepting when offering a retirement plan – but anyone who understands the risk doesn’t want it!
- They can be expensive for the companies offering them.
- There are a lot of providers – how do you know you are getting the best?
These are all valid concerns—but the fact is this:
A 401k may be the biggest hiring and retention feature a company can employ.
So how do you overcome all these concerns and take advantage of all the hiring and retention benefits?
Pick the Idoc Retirement Solution, powered by TAG Resources!
Ease of Administration
401ks take a lot of up-keep.
As a result, they take a lot of employee hours, which more often than not costs you as an employer more money. With Idoc and TAG Resources at the helm of your retirement plan, you can stay on top of your business, knowing that the day-to-day responsibilities of your plan are being looked after.
Without TAG
- 3(38) Investment Manager Appointment
- 402(g) Limit Reporting
- 404(a)(5) Notice Distribution
- 404(c) Notice Distribution
- 408(b)(2) Notice Distribution
- Annual Discrimination & Coverage Testing
- Audit Completion Support
- Audit Firm Hiring & Monitoring
- Auto Enrollment Notice Distribution
- Beneficiary Designation Form Maintenance
- Beneficiary Determinations
- Blackout Notice Distribution
- Census Review
- Corrective Distributions
- Death Benefit Approval
- Distribution Reporting
- DOL and IRS Issue Resolution Assistance
- Eligibility Calculations
- Eligibility Notifications
- Employer Contribution Monitoring
- ERISA Bond Review
- Error Correction Monitoring
- Fiduciary Insurance Coverage Review
- Force Out Processing
- Form 5330 Preparation, Signing, & Filing
- Form 5500 Preparation, Signing, & Filing
- Form 8955 Preparation, Signing, & Filing
- Fund Change Notice Distribution
- Hardship Withdrawal Approval
- Loan Approval & Reporting
- Loan Default Monitoring
- Loan Policy Administration
- Lost Earnings Calculations
- Participant Enrollment Assistance
- Payroll Aggregation
- Payroll File Aggregation
- Plan Design Review
- Plan Document Interpretation
- Plan Document Preparation & Archiving
- Plan Irregularity Notification
- QDIA Notice Distribution
- QDRO Determinations & Reporting
- Quarterly Investment Review Meetings
- Rate Changes Monitoring & Reporting
- Required Minimum Distributions
- Safe Harbor Notice Distribution
- SAR Production & Distribution
- SMM Notice Distribution
- SPD Production & Distribution
- Spousal Consent Approvals
- Termination Date Verification & Maintenance
- Termination Withdrawal Approval
- Top Hat Preparation, Signing, & Filing
- Trustee Duties
- Vesting Verification & Tracking
- Year End Data Collection & Review
With TAG
- With TAG
- Upload payroll files to TAG
- Monitor Service Providers
- Provide Year End Data for Testing
TAG Takes on over 90% of the administrative tasks
Consistent Compliance
Every Retirement Plan has to take governmental compliance seriously.
TAG administered plans are consistently compliant, so IRS and DOL audits are a breeze.
Fiduciary Liability Protection
The responsibility of a 401k should never be undersold.
This is not a scare tactic, it's a fact! 67.2% of company's 401ks that are audited by the Department of Labor fail the audit. Since the DOL's concern for retirement plans, above all else, is that the plan is being run for the benefit of the employees, any failings in plan administration can end up being an extremely costly problem.
Most 401ks place the Fiduciary Responsibility, and by extension, risk, solely on the Plan Sponsor — meaning YOU!
Many providers in the retirement plan market say they offer "Fiduciary Liability Protection" in their marketing material, but in a court of law they flatly refuse any liability. TAG, in the course of plan administration, is listed as the Named Fiduciary on your plan - meaning that with the TAG Program, you are protected to the highest degree in the industry.
Your Responsibilities
Without TAG
- Plan Administration
- Named Fiduciary
- Risk Management
- Record Keeping
- Investment Management
- Auditing
Your Responsibilities
With TAG
- Monitor TAG
Cost Containment
Lower Plan Cost
TAG’s Plans are built on an “aggregated” model. This model combines multiple employer's 401ks together under a single "End to End" retirement program. Every employer in the plan benefits from this aggregation in the form of enhanced services and lowered costs. Employers receive services that most providers don't offer - and because the services are being offered to many at once, TAG's plan costs are the same or lower than those providers.
Liability Protection
Due to our industry-leading 3(16) fiduciary liability protection, your risk of loss of personal wealth resulting from fiduciary liability action is greatly reduced.
Lower Staff Costs
Because TAG fulfills 99% of plan administration duties, you don't need to have the cost of an employee or department focused on retirement plan administration. Your employees can stay focused on moving your business forward.
No Fines or Penalties
Because we keep your plan consistently compliant, you will not be subject to fines and penalties resulting from IRS and DOL audits.
Substantial Resources
IDOC is an alliance committed to the growth and prosperity of independent optometrists. Since 1999, we've been giving eye care professionals a competitive advantage through strong vendor programs, best practices education and networking opportunities. Today, we're over 2,000 members strong, and fully dedicated to ensuring the long-term success of independent optometry.
Financial Advisor
Matthew Hayford
Morgan Stanley
(212) 883-8153
Matthew.Hayford@morganstanley.com
William Cheung
Morgan Stanley
Phone: (212) 883-8595
William.Cheung@morganstanley.com
TAG Resources ensures your plan reaps long-term rewards with easier day-to-day operations. As the largest end-to-end retirement plan provider in the US, TAG is recognized nationally for pioneering unique Retirement Programs. The Multiple Employer Program™ is our newest innovation, bundling retirement plans together in a service model previously only available for very large companies.
The bottom line is that for every plan, TAG acts as your Retirement Plan Department so you don't have to be an expert. We're the buffer between you and the Department of Labor/IRS to keep you compliant, we provide fiduciary liability protection, and our program is priced competitively with plans that do not provide these valuable services.
The results are easy to see: every plan gets A-List Oversight. There is no company more capable of crafting retirement plans that meet the needs of today's businesses than TAG.
Mesirow Financial is an independent, employee owned firm founded in 1937 with 600 employees working from 18 locations around the globe. We focus exclusively on clients. As a privately held company with $326 million in capital*, our clients receive independent, objective advice that’s tailored to their specific needs. As a pioneer in outsourced, third party fiduciary services, Mesirow Financial has been supporting plan sponsors since 2006. The firm has over 32.7 billion in assets under management* and $30.8 billion in assets under advisement*.
*as of 6/30/2018
Transamerica is an industry-leading Record Keeper with over $226 billion in assets as of December 2018, possessing more than 80 years of experience. Transamerica provides innovative retirement plan services and solutions.
Want to know more?
So there you have it.
The Best 401k
Ever Built.
