Our Clients Can Tell Our Story Better Than We Can!

“The Platinum 401k is a first class organization consisting of a great team of subject experts willing to go the extra mile. We are extremely satisfied with their service.”  Smokey Bones Restaurants

“We have been with The Platinum 401k since 2011, and it has been a great experience!”  Dytran Instruments, Inc.

“When it comes to administering retirement plans these days, you want The Platinum 401k on your side to help you be fully compliant with all the new 401k plan regulations.” Lanier Upshaw, Inc.

“The Platinum 401k gives us the ability to focus on running our business rather than our retirement plan solutions.” Freestyle Pools & Spas, Inc.

The Next Steps? We’re going to Need Some Information about Your Current Plan:

We will need to gather information about your current retirement plan to help insure that the plan has been operated in accordance with IRS and ERISA regulations. This review takes just a few days once we have received your information. Once the plan has been approved for transfer into The Platinum 401k program, we will jointly establish a plan design review and pre-enrollment meeting scheduling with your internal human resources or employee benefits team members.

To join The Platinum 401k program as an adopting employer, contact your investment advisor or call us at 800.585.7540. You can also email us at Info@ThePlatinum401k.com.

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A Plan for Retirement

What is a qualified retirement plan?

A qualified retirement plan is a popular savings tool that millions of Americans use to help prepare for retirement.

An example of this is a 401(k) plan. Employees in this type of plan make pre-tax contributions to their retirement plan accounts through automatic deductions from their paychecks. Over time, savings may grow, helping you prepare for retirement. Your qualified retirement plan can provide you with a number of savings advantages, such as the potential for reduced taxes, the ability to take advantage of compound earnings and more.

And why is it important?

This plan has been set up by your employer. By participating in your company’s retirement plan, you’ll be able to take greater control of your financial future. You’ll also be able to take advantage of some attractive benefits the plan offers.

The potential to pay less in taxes

The more you contribute to your plan, the larger your retirement savings (and tax savings) may be.

Each 401(k) dollar you contribute to your retirement plan is taken from your paycheck before taxes are applied. This may lower your taxable income. It might even put you in a lower tax bracket.

The earnings on contributions to your plan grow tax-deferred until withdrawn. And since you may be in a lower tax bracket in retirement, you might pay less tax when the money is withdrawn than if you were taxed today.

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What Makes Us So Unique? There Are a Lot of Reasons

The decision to outsource your retirement plan to experienced industry professionals should be pretty straightforward. Either you want to retain total flexibility and responsibility (and liability) for plan oversight, or you’ve decided you would rather hand off almost all of the fiduciary duties and liability to a third party. Once that decision has been made, the next decision – who best to take over these duties – is equally important. We think this is where we have a huge advantage over the rest of the industry.

The Platinum 401K is unique in its ability to have brought the first multi-provider solution to the 401k Outsourcing marketplace. Our annual recurring plan revenue – which is fully disclosed in the personalized proposal we generate for your plan – is identical regardless of which provider is selected. We also rebate back all recurring “revenue sharing” as a credit against our annual asset based compensation fees. This strategy lowers your costs and increases your plan returns. Where it’s contractually possible, we will simply carve out” all revenue sharing fees completely. Your custom plan proposals will provide complete details and additional information that you should read carefully.

We were also the first program of our type in the country to utilize a CEFEX-Certified 3(38) Investment Manager on a multiple employer plan of this type. The Centre for Fiduciary Excellence (CEFEX) is an independent global assessment and certification organization. They work closely with investment fiduciaries and industry experts to provide comprehensive assessment programs to improve risk management for institutional and retail investors. CEFEX certification helps determine the trustworthiness of investment fiduciaries. This is an important point of differentiation that you and your employees need to fully appreciate. The annual CEFEX audit of fiduciary practices of the Investment Manager provides a high level of confidence and protection for the plan and the participants.

Finally, we are industry leaders in terms of both experience and expertise in these types of programs. When the U.S. Department of Labor’s ERISA Advisory Council sought input on Outsourcing Employee Benefit Plan Services in 2014, The Platinum 401k CEO Terrance Power was asked to provide expert testimony before the group in Washington, D.C.

The findings of the Council have already led to several bipartisan legislative proposals in Congress that are expected to greatly expand the availability and benefits of these types of programs across the country.

We look forward to continuing to work with our supporters and friends in Washington to help broaden retirement plan coverage for working Americans. Read More…

 

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The Platinum 401k Open Multiple Employer Plan

The Platinum 401k - America's Multiple Employer Plan and 401k Outsourcing experts! With over 35 years of industry experience, we help employers focus on running their businesses instead of their 401k plan!

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What Should Be Done When Selecting a 401k Investment Manager?

The process of choosing a 401K investment manager depends on the plan so as the services to be given. Choosing the best retirement plan may result to either retiring happy or working longer than you should be. Selecting the best 401K administrator is a very important aspect in this process. Typically, a 401K plan is being governed by the employer.

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401(K) Outsourcing: The next Big Thing

Outsourcing is the hiring of a consultant from outside the company to complete a task or provide a service that they are better suited to do then your own employees. Many small to midsized plans are beginning to outsource 401(k) fiduciaries. Companies outsource many services, including payroll, auditing, marketing, legal defense, building maintenance, HR services and advertising, to name but a few. The reasons for outsourcing generally include:

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Exclusive Interview with Terrance Power: 401k MEPs Reduce Downside Risk for Company Execs

For some time now, readers have seen Terry Power quoted frequently in many a FiduciaryNews.com article. Ever since we first met him at the 2012 fi360 Annual Conference, we’ve considered Terry one of our pre-eminent “go-to” guys when it comes to all things MEP. He is the Founder and President of The Platinum 401k, Inc., the independent marketing organization of American Pension Services, LLC located in Clearwater, Florida. Terry has been in the retirement plan industry since 1981 serving as an adviser, a retirement plan wholesaler, and a fee-for-service third party administrator. He is a frequent speaker at industry functions and has provided testimony before the United States Department of Labor ERISA Advisory Council on the subject of Outsourcing Employee Benefit Plan Services.

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