Software for 401K analysis

[Guest wealthmgmt]

Hello out there! I'm currently looking for some ideas on software that I can buy to analyze 401K's for integrated testing and cross testing to optimize 401K benefits for owners. We want to act as our own TPA eventually.

[Guest fender5150]

How much money do you want to spend? How big is your company?

I'm not aware of a comprehensive product that's priced for a single company.

www.401ktest.com provides ADP / ACP testing for $79 per year. It's a testing site for companies with less than 200 employees. It was primarily designed to perform mid-year testing quickly and accurately, but it's also a very good tool for year-end testing if it's in the right hands. There are some payroll companies who create reports that can be directly uploaded to the site.

They (we) also provide guidance regarding how to perform many other tests required for 401k plans (free with your paid subscription).

401ktest also provides free tools to help with:

-Creating loan schedules for 401k loans.

-Calculating an EBAR.

-Doing an ADP / ACP test when all the variables are known.

Regarding doing your own TPA work; this stuff is complicated!

There is so much to keep up with regarding 401k administration, it's the last thing any company should do alone. If you are interested in maxing out your benefits and staying in compliance, you should continue to work with a good professional.

Seriously; I would suggest bringing legal and accounting work in-house before 401k admin. work. Don't bring your legal and accounting in-house either!

I hope this helps!

[12AX7]

fender, I didn't think we were permitted to advertise or showcase our busineses here on the message boards. That is my understanding. Perhaps a moderator can clarify this better.

[Guest fender5150]

You have a good point.

I can understand if the moderator deletes the post, but it does provide an answer to his question:

I think he was asking about sofware for 401k analysis. I gave him one option and advised that no software takes the place of a good professional.

wealthmgnt:

There is an Admin. package that's supposed to hit the market this spring. It's late getting to market because they are still working the kinks out. This stuff is pretty complicated, as you probably know!

FTWilliam. They are a great company!

It's much more comprehensive than my ADP / ACP testing site; and the price will reflect that. Still; They will give you a great value for the money, in my opinion. I use their document software and I'm very happy with it!