Retirement benefits built for
Until now, employee benefits have been out of reach for many smaller, local businesses. The recently passed SECURE Act created a new type of 401(k), a Pooled Employer Plan, that allows employers to join a larger plan rather than starting their own. The Central PA 401(k), by Conrad Siegel, now enables businesses under 70 employees to offer a 401(k) that’s simple, flexible and affordable.
The Central PA 401(k), by Conrad Siegel, is designed to be hands-off for business owners. We take care of everything including selecting the investment menu, filing government forms, plan design, and the ongoing management of your plan saving you and your staff valuable time.
The plan is designed for small business budgets. There’s no initial funding requirement with low, elastic monthly fees based on your number of employees. Employers may also be eligible for tax incentives for starting a 401(k) plan.
Saving under the plan is optional for employees and you choose how generous your employer contribution will be. Contribution options include Safe Harbor, Matching, and Profit Sharing. Employees can choose to make either traditional pre-tax or Roth contributions.
The plan is fully managed by Conrad Siegel, resulting in you having one dedicated plan contact. Your employees also have access to a dedicated investment education contact that they can talk to, at no additional cost.
Finally – a 401(k) Plan built for you and managed by retirement experts
A plan designed for small business that is hands-off, affordable, flexible, and includes support. For one price, everything is covered: custodial, plan administration, recordkeeping, investment advisement, investment education, ERISA bond coverage, and fiduciary oversight.
Low cost, simple fee structure
Transparency is what Conrad Siegel was built on over the past 50 years here in Central PA, and it’s what’s made us great ever since. The Central PA 401(k) was designed to be straight-forward explaining who pays what, when and what’s in it for you and your employees.
|Service Fee||Owner/spouse only – $90 per month|
Up to 10 Employees – $190 per month
11 to 20 Employees – $270 per month
21 to 30 Employees – $350 per month
31 to 40 Employees – $400 per month
41 to 50 Employees – $450 per month
51 to 60 Employees – $500 per month
61 to 70 Employees – $550 per month
|Matching||Employer’s choice to match|
employee contributions or not
|Asset Based Fee||0.4% |
(0.1% of account balance paid quarterly)
|Contribution to 401(k)||0%-85% of each pay period decided by employee|
Former employees may continue to participate in the plan, even after leaving employment, at their own expense. Their account will be charged a $15 quarterly fee plus the above Asset Based Fee (both paid quarterly).
Conrad Siegel is also able to assist with the following services at an additional cost: contribution calculation, cross testing allocation, amendments, testing refunds, and de-conversions. You can find out more about Conrad Siegel’s additional services by setting up a short introductory call below.
We take care of everything so you can focus on running your business
The Central PA 401(k) was designed specifically around the needs of small business owners who often find themselves stretched in many different directions and wearing a lot of hats. Conrad Siegel administers your company’s plan, acting as recordkeeper, third-party-administrator, and advisor. We are also serving as a fiduciary, meaning that we are obligated to act in the best interest of the plan participants.
Your plan includes
Central PA 401(k): learn more and get your plan started
Schedule a 15-minute introductory call with plan specialist Jim Kehr
You can start your 401(k) or find out more about how your business fits with the plan. Whether you are looking to merge an existing plan or start a new plan, it begins with a short call so we can understand you and your business better, answer your questions, and collect any initial information needed get your transition underway.
Jim Kehr, CRSP