2. Agenda
• Traditional 401k Plans: Comparison
with other Employee Benefit plans
• What is Tomorrows K?
• Program Structure
• Questions?
3. If a company decides to provide an employee benefit
(example: health insurance), what does the company do?
Select
an
insurance
company
and
benefit
level
(deduc6bles,
co-‐pays,
plan
type,
etc.)
Decide
how
much
the
company
will
contribute
and
how
much
employees
will
contribute
to
total
health
insurance
cost
(premium)
amount
Pay
total
premium
bill
to
insurance
company
,
a?er
deduc6ng
employee
contribu6ons
from
their
paycheck
The 3 steps above are essential for an employer “sponsoring” (providing a
benefit for) an employee health insurance plan.
How about “Sponsoring” a 401k Employee Benefit?
4. Tradi&onal
401k
Plan
as
an
Employee
Benefit
–
What
does
“Sponsoring”
a
401k
plan
really
involve?
5.
6.
7. What is Tomorrows K?
• A 401k plan, administered and overseen by
a professional fiduciary, run jointly for
multiple companies in order to allow the
companies to run their 401k plan like
any other employee benefit
• A way of running 401k plans most
commonly used by Trade Associations or
Chambers of Commerce to provide a low
cost solution for their members –
representing 5% of all 401k plans nationally
8.
9.
10. EMPLOYEE SERVICES
Centerpoint Stewardship provides
NAMED FIDUCIARY
The Employer’s Fiduciary Solution (EFS) provides Fiduciary consulting services to large and small
employers. EFS serves as Named Fiduciary and Trustee, and is responsible for both investment
and operational oversight of Tomorrows K. EFS was founded by Matthew Fields, Registered
Investment Advisor, CPA, Attorney, and MBA.
PLAN CUSTODIAN INVESTMENT FIDUCIARY
Tomorrows K Retirement Plan investments are Investment Fiduciary services are provided by
held at Mid-Atlantic Capital Group, a specialty Revolution Financial, a fee-based Registered
custody, brokerage and trade processing firm Investment Advisory firm founded by Cliff Hetzel,
with over $40 Billion in combined assets. MBA and Accredited Investment Fiduciary (AIF).
RECORDKEEPER/THIRD PARTY PLAN ADMINISTRATOR
ADMINISTRATOR Allen Plan Administrators (APA) is the Plan
401(k) Plan Administration is provided by Administrator for Tomorrows K. Founded by a
Summit Benefit Solutions, a firm founded in former broker-dealer chief compliance officer and
1999 . They provide 5500 preparation, human resource consultant, APA focuses solely
on Retirement Plan Administrative and
comprehensive compliance services, and
Compliance services.
participant services .
11.
12. Why is Tomorrows K Better?
1) We
run
the
Plan
and
assume
complete
Fiduciary
responsibility
for
plan
opera&on,
plan
investments,
and
plan
legal
oversight
2) We
are
the
Named
Fiduciary,
the
highest
level
of
possible
responsibility
outsourcing
3) We
allow
you
to
run
your
re&rement
plan
like
your
other
employee
benefits
