Not all 401(k)
plans marketed on the Internet are created equal. Impact401k®
offers comprehensive services and gives you and your employees tremendous
cost savings over the life of the plan. There's no outsourcing or
third party administrator. See for yourself the impact401k®
difference.
Compare Plan Designs
Features
401(k)
Safe Harbor Plan
Traditional
401(k) Plan
Maximum
Salary Deferral
Lesser
of $15,500 or 415 Limits (indexed annually)
Lesser
of $15,500 or 415 Limits (indexed annually)
Required
Employer Contribution
Match
100% of first 3% of pay deferred,
plus 50% of the next 2% of pay deferred
100%
of 4% of pay
100%
of 5% of pay
100%
of 6% of pay
25%
up to 4%
25%
up to 6%
50%
up to 4%
50%
up to 6%
100%
up to 4%
100%
up to 6%
Actual
Deferral Percentage (ADP) and Actual
Contribution Percentage (ACP) Tests
Not
Required
Required
Vesting
Required
employer contributions are 100% vested
at all times. Discretionary Profit Sharing
Contributions may be subject to a 6
year graded vesting schedule
All
employer contributions may be subject
to a 6 year graded vesting schedule
For a
more comprehensive comparison between a 401(k) Safe Harbor
and Traditional 401(k) plan offered on our site, click
here.
Compare impact401k Plans
Service
Is
Service Included in Annual Fee?
impact401k®
Principal
ImpactPlus
Offers
traditional 401(k) and 401(k) Safe Harbor
plan design
Internet
access for participants
Toll-free
interactive voice-response phone access for
participants
Transfer
data straight from your payroll system
Toll-free
one-on-one assistance for participants
Help
for participants when they leave your plan
Quarterly
participant magazine mailed to the participant's
home
Employee
assistance with other financial decisions
Help
selecting plan investments
Amendments
to plan documents
Loans
from the plan
5500
Preparation based on information you provide
Required
compliance testing via Internet applications
Online
materials for Enrollment Meetings
Participant
Enrollment Booklets mailed directly to you
Ability
to work with a broker for general questions
and assistance with enrollment meetings
Contact(s)
for ongoing administrative assistance
Assistance
with the transition of your plan document
and retirement funds to us
Compare Prices
Provider
Set-up
fees
Annual
fees
Per
participant fees
Other
Fees
impact401k®
$500
$700
$20
$40.00
per loan plus $8.00/quarter paid by participant
0.95%
average expense ratio
Principal
ImpactPlus
$500
$1,700
$30
$40.00
per loan plus $8.00/quarter paid by participant
