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Employee Info Center
- How does a new hire employee begin paperless onboarding ?
- Training Tutorials and Demonstrations - Employee
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- What Does AdvanStaff HR Do For You?
- Employee Support
- Payroll & Benefits Onboarding
- Employee Portal (ESS)
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- Understanding Your Employee Benefits
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- How does a new hire employee begin paperless onboarding ?
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- Employee Handbooks
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- How does a new hire employee begin paperless onboarding ?
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- Employee Portal (ESS)
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- Employee Social Security Number (SSN) Edits
- How does a new hire employee begin paperless onboarding ?
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- All Benefits & Perks
- Understanding Your Employee Benefits
- How To Save On Medical costs
- Open Enrollment
- Qualifying Life Event (QLE)
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- Who can I add as a dependent for my benefit coverage?
- Benefit Basics Video
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- Group Dental Insurance (UHC)
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- Voluntary Health: Physician, Urgent Care, Hospital, Dental, Vision, and Wellness Benefits, Inpatient, $0 Telemed (Hooray Health)
- WellCall360 - Voluntary Wellness + 0$ Tele-med, Rx, Dental, Vision (Hooray Health)
- Instant Decision, Affordable Life Insurance
- Whole Life Insurance with Long-Term Care
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- Voluntary Health: Physician, Urgent Care, Hospital, Dental, Vision, and Wellness Benefits, Inpatient, $0 Telemed (Hooray Health)
- WellCall360 - Voluntary Wellness + 0$ Tele-med, Rx, Dental, Vision (Hooray Health)
- MetLaw Legal Plans
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- Accident Insurance (MetLife)
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- Critical Illness Insurance (MetLife)
- Short-term and Long-term Disability Insurance (MetLife)
- Group & Voluntary Life Insurance Coverage for Dependents (MetLife)
- Instant Decision, Affordable Life Insurance
- Voluntary Benefit Programs
- Whole Life Insurance with Long-Term Care
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- Annual Plan Contribution Limits
- Flex Spending Accounts
- Medical Expense FSA
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- Commuter, transit, and parking FSA
- Health Savings Accounts (HSA)
- Limited Purpose Flex Spending Account (LPFSA)
- FSA - Member Portal (year 2020 and previous)
- How To Save On Medical costs
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Manager Info Center
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- Employee Onboarding
- 401k Retirement Plan Services
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- Full-Service Payroll & Employment Tax Administration
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- Full-Service Payroll & Employment Tax Administration
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- Employee Benefit Plan Administration
- All Benefits & Perks
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- 401k Retirement Plan Services
- Employee Assistance, Wellness, and Lifestyle Programs (EAP)
- Affordable Care Act (ACA) Compliance
- Group & Voluntary Life Insurance Coverage for Dependents (MetLife)
- Voluntary Benefit Programs
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- Workers Compensation Program and Policy Administration
- Claims Management and Administration Assistance
- Workplace Safety Program Assistance
- Report a workplace injury
- Report a workplace concern
- WC CLAIMS FORMS BY STATE
- Employment Practice Liability Insurance (EPLI)
- Secure Upload Documents
- Business Insurance
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- Employee Record Maintenance in the Manager Portal
- Manager Training Video Library
- Document Management System (DMS)
- Employee Portal Messaging-Alerts
- Employee Portal Event Management
- Manager Portal Training - The Basics
- I-9 Part 2 Approval Guide
- Training Support in the Manager Portal
- Employee Social Security Number (SSN) Edits
- Training Tutorials and Demonstrations - Worksite Managers and Administrators
401k Retirement Plan &
Fiduciary Services for Employers
no admin fees, no audit fees, no testing fees, no-load funds
Hassle-free, end-to-end turn-key 401k solutions integrated into your service plan
Get a Quote -or- Compare Your Plan
AdvanStaff 401k General Information
Attracting and retaining employees is easier when you reward them with valuable benefits. Sponsoring a 401k program is an excellent way to compete for top talent.
Let us help. By adopting AdvanStaff HR’s multiple employer plan (MEP), you pass most (if not all) of the cost and compliance responsibilities over to us. We manage retirement plans for hundreds of employers and use our scale to save you time and money. It’s never been easier.
Not only will you save thousands each year in plan administration and audit fees, we will assume the fiduciary responsibility and allow you to get back to the business of your business.
Features
- Eliminate the hassles of 401(k) plan administration
- Full flexibility in plan design (matching, profit sharing, eligibility, vesting and more)
- Zero cost to you and low participant costs
- Eliminate your role as Trustee of your own plan
- Outsource Fiduciary liability to AdvanStaff HR
- No more IRS form 5500 to file
- No more plan audits
- Outsourced loan and distribution processing
- Low cost no-load mutual funds from Vanguard, BlackRock, T. Rowe Price, American Funds, MFS and more.
- Administrative Services provided by AdvanStaff HR
- Clearing Services provided by Fidelity
- Investment Committee Services provided by AdvanStaff HR
- Investment Advisory Service provided by Slavic401k
- Administrative Services and Record keeping provided by Slavic401k
Sample Cost Comparison
Just how much cost advantage does the AdvanStaff HR 401(k) offer?
Reasonableness of Fees: Actual AdvanStaff Employer Plan vs National Average
Plan Comparison Parameters: $2,244,719.51 plan assets with 109 Participants
| AdvanStaff HR Client Plan | National Average | |
|---|---|---|
| Asset Fee | 0.28% | 0.40% |
| Participant Admin Fee | 0.10% | N/A* |
| Weighted Fund Expense Ratio | 0.08% | 1.26% |
| Audit Expense for plans over 100 EEs | 0.00% | 0.36% |
| Plan Sponsor Fee (PERA) | 0.11% | N/A* |
| 3(38) Portfolio Services | 0.08% | N/A* |
| Total | 0.65% | 2.02% |
| Total in $$ | $14,570 | 45,303 |
| Total Annual Savings | $30,733 |
Services
401k Plan Services
- Turnkey 401k Solution
- Very low cost, multiple employer plan
- One Day Contribution Processing
- 5500 Filed
- Compliance Testing
- Data Bridge with payroll system
- Online Portal – 24/7 reports
- 800 call support – Participants, Sponsor
- Loan and Distribution outsourced processing
- Electronic Signatures, Trustee authorization
- Document Fulfillment
- Newly Eligible
- SPD, SAR, SMM
- Online enrollment, New Plans prior to plan set-up, Entry Dates, Newly Eligible
- Enrollment Meetings: on-site, webinars, conference calls.
- Material Provided, – Enrollment Guides, Adoption Guides
- Video Applications
- Sponsor
- Participant
- Email Express co-branded participant education
Compliance Services
- Volume Submitter Multiple Employment Plan Document – updated and restated 2020
- Worksite Amendments
- Compliance Questions answered timely – same day
- DOL Audit representation if applicable
- Audit package provided timely
- Sponsor Express co-branded Monthly Notification to worksite employers with statistics and testing results
Employer Matching Options
- Zero match
- Custom match
- Safe Harbor
- Basic (3%)
- 100% of the first 3%, plus 50% of the next 2%.
- Enhanced
- 100% of the first 4%.
- Basic (3%)
- QACA – Qualified Automatic Contribution Arrangement
Automatic Enrollment Option (Qualified Automatic Contribution Arrangement – QACA)
The employer automatically enrolls the employees in the 401(k) plan for a pre-tax contribution between 3% to 6%.
If the initial auto-enroll contribution rate is less than 6%, the employee’s contribution would automatically increase 1% each calendar year until they reach 6%.
Employees have 90 days to opt-out of the automatic enrollment and receive a full refund of their contributions.
A Safe Harbor QACA arrangement allows the company to implement a vesting schedule of up to 2 years on the matching or non-elective contributions.
- QACA Match
- 100% of the first 1%, plus 50% of the next 5%. $1.00 for $1.00 matching contribution on the first 1% of
- QACA Non-Elective
- A minimum of a 3% employer non-elective contribution for each employee whether or not they actively contribute a portion of their own compensation
Safe Harbor Matching Options & QACA Explained
Fiduciary Services
- Investment Policy Statement
- Investment Monitoring
- Fiduciary Portal
- 3(21) Advisory Services – recommendations
- Sponsor
- Participant Education
- 3(38) Advisory Services – Optional Portfolio Allocation Service
Visit the “Employee 401k” page for 401k plan features
Sample Proposal
https://vimeo.com/97350108/c6b54992c1
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