Passport401k
Passport401k is a modern retirement plan solution for small businesses (up to 250 eligible employees) seeking a low-cost 401k benefit that is easy to set up and operate. Passport401k is a Pooled Employer Plan (PEP) that allows unrelated small businesses to band together under one plan, creating economies of scale for a robust yet cost effective retirement plan solution.
Passport401k Brochure
Simple
We manage most of the day-to-day plan processes without distracting you or your team. This reduces your time by leveraging our 25+ years of industry experience to pro-actively do the work for you.
Low Cost
Passport401k is more affordable than most 401k products. It leverages lower-cost investment structures, reduces administrative complexity, and utilizes technology to automate processes.
We Do It for You
We become the legal plan administrator of your plan, so you don’t have to. Passport401k includes built-in, accountable plan fiduciaries that accept legal responsibility for managing the plan, reducing your risk and liability.
Employee Friendly
Employees are automatically enrolled in the plan and provided easy-to-understand investment options. Our intuitive technology makes enrollment and account management easy.
The passing of the SECURE Act means good news for many Plan Sponsors starting a retirement plan or adopting automatic enrollment.
SECURE Act Tax Credits
Why Offer a 401k?
Your employees’ financial futures are at risk if they are not saving for retirement, and 401k plans are one of the most effective ways to help them save.
ATTRACT TOP TALENT
Statistics show that 401k plans have become the primary source of retirement savings for U.S. workers and help companies compete for top talent.REDUCE TURNOVER
A 401k plan is a critical part of an employer’s overall benefits program and minimizes the chance that employees seek jobs with better benefits.HELP OWNERS AND EMPLOYEES SAVE
401k plans allow owners and employees to elect pre-tax or Roth salary deferrals, and create a disciplined, tax-favored approach to savings—both are available options.REDUCE INCOME TAXES
401k plans reduce income taxes for employees and the company. Employer contributions are tax deductible and employees elect pre-tax or Roth tax treatment – each providing special tax benefits.We Do It For You
Unlike most providers, we take the lead and do most of the work for you. Our 3(16) fiduciary services include comprehensive plan management to reduce your workload and minimize complexity.
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Sign Form 5500
Sign Plan Amendments1
Approve Distributions / Loans
Manage Eligibility / Enrollment
Manage Payroll Data2
Prepare Year-End Census
A Winning Combination
Support from your local investment advisor and JULY’s dedicated, certified 401k specialists.
Simple, Intuitive, Easy.
Managing your 401k has never been easier
Payroll Integration
Passport401k includes ePayroll – integration between JULY and common payroll providers.
Plan Investments
Selecting the investments offered is an important fiduciary role that requires employers to act as experts. To help you with this responsibility, Passport401k includes professional services from eFiduciary Advisors.
Investment Menu Maintained by Experts
Low-Cost Investments
Blend of Passive and Active Funds
Reduce Fiduciary Risk Using Best Practices
Professionally Managed Options
An investment lineup created and maintained by experts reduces fiduciary risk and helps improve outcomes.
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Getting Started
It’s easy to get started with Passport401k. Below are the steps to set up your plan.
| STEP | DETAILS | DAY |
| Setup Form | JULY will assist with completing online setup forms and electronically signing agreements. |
1 |
| Kick-Off Call | After completing the online setup form, a call will be held with JULY to coordinate remaining steps. |
3 |
| Enrollment | JULY prepares materials and coordinates online enrollment with your advisor. |
14 |
| Training | JULY trains the employer on the plan website. |
21 |
| Configure Payroll | After participants make elections, JULY helps configure payroll to begin funding contributions. |
30 |
| Deposit Contributions | JULY will coordinate the first payroll and ensure contributions are funded to the plan. |
45 |
| Go-Live | JULY will provide participant instructions for web access. |
50 |