Easy access to your 401(k) fees.
The Payroll Company 401(k) delivers full fee disclosure for both "hard dollars" and money coming out of plan assets. We make that information easy to access for the employer and employees.
Plan Sponsor
TPC Qualified Plans, LLC (TPC) is the Plan Sponsor of the TPC Qualified Plans LLC Retirement Savings Plan, a multiple employer plan (MEP). TPC is responsible for the Administration of the Plan, which includes a duty to prudently select the fiduciary investment consultant and monitor its performance. TPC is further responsible for executing service agreements between the parties who provides services to the Plan; including, the establishment of the custodial account for Plan assets. TPC files Form 5500 and other required schedules annually. Annual fee: 15 basis points (.0015)
Investment Fiduciary Service
Alliance Benefit Group (ABG) is an ERISA-approved independent fiduciary which provides the TPC Qualified Plans LLC Retirement Savings Plan investment fiduciary services. ABG’s fiduciary discretion includes selecting the investment options used to construct the fund menu. The service includes selecting asset classes appropriate for risk based portfolios, monitoring the investment options periodically, and replacing them whenever ABG deems it is prudent. The fund menu provides a broad range of investment options which include age-appropriate funds when used as qualified default investment alternatives (QDIAs) in compliance with 404(c)(5) of ERISA. Annual fee: 25 basis points (.0025)
Investment Education Service Provider
Investment Education Service Providers meet with Adopting Employers annually, and as requested, to provide the Adopting Employer with an overview of the portion of the total Plan assets in the TPC Qualified Plans LLC Retirement Savings Plan, which represents the total account balances for the employees of the Adopting Employer. They may meet with the employees of each Adopting Employer in order to provide the employees with educational support for the Participant website designed by Alliance Benefit Group including how to log into the web, use the retirement tools, navigate the allocation and rebalance features. In addition, they may answer questions regarding the investment options offered in the Plan. Annual fee: 40 basis points (.0040)
Custodian
All MEP Plan assets are held by an independent custodian, TD Ameritrade. Annual fee: 5 basis points (.0005)
Record Keeping, Administration, Internet Sites
Alliance Benefit Group is the daily valuation record keeper and third party administrator selected to work with the Plan Sponsor in operating the MEP. Administration services provided by ABG include processing in-service, termination, and hardship distributions; preparing the annual IRS Form 5500 and Summary Annual Report.
In addition, ABG provides participant record keeping and transaction processing services to the Plan. The participant website enables each Participant to manage his or her retirement investments by providing online instructions and educational tools. Participants may also view financial and investment information which complies with DOL guidelines, set a rebalance strategy, or change elections online. In addition, participants may opt to call a live operator via the ABG Call Center. Annual fees: 25 basis points (.0025) (A $500 base fee and $12 per participant charge may apply to plans with less than $1.5M or less than $40,000 average balance per participant).
Payroll Services
To maintain efficiency in processing payroll files for TPC Qualified Plans LLC Retirement Savings Plan, payroll services are provided by The Payroll Company, Inc.
Fee: The Payroll Company will provide an individual fee quote for payroll services.
