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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Platinum 401k Adds Hartford Lifetime Income Option to MEP

The Platinum 401k multiple employer plan program will now include a retirement income option from The Hartford.

The Platinum 401k multiple employer plan (MEP) allows plan sponsors to eliminate their annual plan audit, Form 5500 filings, trustee-level liability, and investment fund selection responsibility. It features investment products from Great-West Retirement Services, John Hancock, and The Hartford. 

"We've seen a growing interest from employers who are seeking income protection for their employees in retirement", said Terrance Power, President of American Pension Services. "The Hartford's new Lifetime Income program addresses that demand in the marketplace."

For details on the program, visit www.ThePlatinum401k.com.

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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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Worcester Regional Chamber of Commerce Endorses the Platinum 401k for Their Members

The 6,000 member Worcester Regional Chamber of Commerce has endorsed The Platinum 401k as the retirement plan solution for their members across Central Massachusetts.

“We’re delighted to have secured the endorsement of one of the largest regional chambers in the country”, stated American Pension Services President Terrance Power. “The Chamber was looking for a retirement program to bring to their members that would provide them with the benefits associated with a multiple employer plan program without their incurring any plan sponsor or fiduciary liability. The Platinum 401k program fits their requirements perfectly.”

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