What businesses need to know about our PEO 401(k) solution

Explore how PER’s retirement savings plan can bring value to your business and employees


Choosing a quality 401(k) plan that gives you and your employees the most value is important for your business and helps to keep your employees happy. 


The PER Retirement Savings Plan is a special type of 401(k) plan called a Multiple Employer Plan (MEP). Rather than sponsoring your own plan, you can become an adopting employer of ours. And as part of our super-sized plan, you’ll get all of the benefits typically enjoyed by only the largest companies, with a lot less work.


Continue reading to learn about our 401(k) retirement plan solution and how your business can benefit. 


How does PER’s 401(k) solution benefit my business and employees? 

Our 401(k) plan is specially designed to make things easier for your business and to get your employees ready for retirement. Your employees will benefit from easy onboarding, intuitive portals, and stellar customer service, and more such as:


  • Easy enrollment: You employees can easily enroll online or by phone in a three-step guided process that helps your employees pick their savings rate and select their investments.


“PER clients don’t have to worry about shopping for a 401(k) or do the work of making sure that the carrier is properly licensed. All our clients need to do is tell us whether they want to offer a 401(k) plan to their employees and we facilitate the plan set-up and enrollment process” explains Veronica Ramos, Senior HR Generalist at PER.


  • Retirement readiness: Our 401(k) solution provides access to account balances, online transactions, and investment history. Each participant will know from day one whether they are on track.
  • Expert guidance: Our 401(k) solution’s GuideME technology provides each employee with a personalized path to financial security. Your employees can plan for their future and watch their savings grow with specific recommendations on savings rates, investment strategies, and retirement plans.
  • Custom campaigns: If your business wants to encourage more employees to participate in the plan or provide them with financial education, we can design a custom campaign using our Participant Message Center.
  • Optimal security: Your employees’ personal information is important and retirement assets are our top concern. Our systems and procedures meet the industry’s highest standards and are explicitly designed for protection.


Related resource:

How a PEO can help your business with benefits administration 


What 401(k) design options does PER offer?

Our solution allows you to take advantage of the benefits of being part of a multiple employer plan without losing any flexibility. When a 401(k) plan is well-designed, it plays an integral part of a strategic compensation package for your employees. PER  individualizes your plan design to meet your company’s objectives and help your employees prepare for retirement.


Our PEO 401(k) solution offers the following:


  • Eligibility timing: Your business chooses how quickly you want employees to participate in your plan. You can choose to coordinate with your other benefit offerings or adjust to meet your competition.
  • Enrollment experience: Your business has the option to choose a traditional enrollment experience or fast-track your employee’s savings journey by choosing automatic enrollment and/or progressive savings. 
  • Safe harbor designs: A safe harbor design helps your business avoid failing 401(k) nondiscrimination tests. We’ll review all of your options and help you pick the option that is right for you. 
  • Employer contributions: Every business selects whether to contribute a portion of their own money to the plan, and if so, how much. Every business is different, and we can help you design the contribution that best fits your objectives. 
  • Vesting schedule: Your vesting schedule determines how quickly your employees own the money you put into the plan. You can choose from an immediate vesting schedule or delay the vesting over as much as a six year period.

How to join PER’s 401(k) plan

There are just three easy steps you have to follow to join PER’s 401(k) retirement plan. Throughout this process, you always have access to the expertise and support provided by our expert team. 


#1: The process begins with a consultation between you and our plan design professionals regarding your plan design. We review your business’s structure and provide specialist advice on both plan design and regulatory issues. We then prepare your adoption agreement.


: Once your adoption agreement is complete, we begin to implement your plan. Our retirement service provider, BlueStar, will be in contact to plan a communication strategy that works best for your business. This may include on-site visits, webinars, and customized educational materials.


Finally, if your business has an existing retirement plan, we begin the process of transferring it into our savings plan. BlueStar and BKS Retirement work to collect all the necessary data from you and your prior provider. They will also need to obtain transfer approval, notify your participants, and re-invest your transfer. You will also benefit from direct support from the carrier.


Is your business looking for a 401(k) solution?

In addition to our 401(k) solution, PER has provided outsourced HR services to small and medium-sized businesses across Central Florida for over 25 years. We offer the extensive capabilities of a full-service PEO, while maintaining the personal connection of a small business.


Our team of qualified benefits specialists can assist you and your business in optimizing your employee benefits package. Through our benefits administration services, we  provide access to high-quality health, vision, and dental insurance for employees and their families that include HMO, POS, and PPO plan options.


PER can help your business by handling new hire eligibility and enrollment, qualified employee changes, and processing employee deductions and employer contributions. As part of our comprehensive services, we also offer payroll management, workers’ compensation, 401(k) retirement plan, and more. 


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