Working Together for You
The Oasis 401(k) Retirement Savings Plan is offered in partnership with Slavic401k. Together, we have created a retirement plan that levels the playing field between enterprise and small business.
Plan Administration
In most retirement plans, the employer typically holds the plan sponsor role, which carries all administrative, fiduciary and investment duties. This can be challenging, as many employers are simply not set up with the infrastructure to handle the responsibility. Often, it is also cost-prohibitive.
The Oasis 401(k) Retirement Savings Plan was designed with the small employer in mind. The plan sponsor role is outsourced to us. This is a huge benefit to employers as our partnership with Slavic401k takes most administrative duties off of your plate. Further, by pooling together with other employers, costs are lowered by negotiating services and fees on the collective behalf. This is a win-win for employers AND employees.
Slavic401k | Paychex | Adopting Employer | |
---|---|---|---|
Select and monitor service providers | |||
Select and monitor plan investment options | |||
Select MEP plan provisions applicable to all adopting employers | |||
Select Individual plan provisions applicable to adoptiong employer | |||
Review and approve plan provisions applicable to adopting employer | |||
Prepare, review and approve plan amendments | |||
Sign plan adoption agreements | |||
Provide complete employee census data | |||
Submit accurate and timely plan contributions | |||
Provide all data to plan administrator in case of ownership change | |||
Monitor participant eligibility, entry dates and vesting | |||
Monitor plan IRS contribution limits | |||
Monitor timely submission of contributions | |||
Prepare and deliver participant regulatory disclosures | |||
Approve and process participant regulatory disclosures | |||
Prepare, sign and submit IRS/DOL Form 5500 | |||
Perform, review and approve plan testing | |||
Make necessary plan corrections to keep plan compliant | |||
Acquire fiduciary liability insurance | |||
Independent annual plan audit |