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Products July 11, 2001
1Point Launches Safe Harbor DC Plan for Small Employers
November 7, 2001(PLANSPONSOR.com) - 1Point
Administrative Services has created the SafeSolo 401k Plan, a
Safe Harbor plan for small employers concerned about the cost
and complexity of administering a defined contribution
plan.
Reported by Camilla Klein
The matching provisions for employees is $1 for $1 for the first 3% of participants’ income, and then $.50 on each dollar for the next 2% of income. Vesting is immediate. The plan is priced at $300 per year plus $30 per participant
The plan provides an array of mutual fund options such as Fidelity, American Funds, Oppenheimer, Neuberger Berman, Hancock, Van Kampen and Lord Abbett, as well as faith-based funds such as the Aquinas Funds and the Amidex35 fund.
The plan’s Web site provides everything a business owner needs to install the plan, according to the company. All forms can be printed off of the site, completed by the owner and forwarded to 1Point. Most of the administration is handled via Internet