Save on yearly administration costs, and reduce your liability! Cardinal offers a multi-employer 401(k) retirement savings plan through Lincoln Financial Group.

This plan is operated by Cardinal and is designed to allow clients  and their employees to invest a portion of their gross income into a tax sheltered mutual fund. Cardinal takes on the administrative responsibilities for the plan and manages employee/employer contributions to Lincoln. This plan is flexible in that it allows clients three (3) plans to choose from and it allows employees a full range of investment options with Lincoln. In some cases, we can develop a specific 401(k) plan for our clients, which can include profit sharing and other options. Cardinal does not contribute to the plan.

IF YOU ARE AN EMPLOYER WHO SPONSORS YOUR OWN 401(K) PLAN,
YOU ARE PUTTING YOURSELF AT FINANCIAL RISK THAT CAN BE AVOIDED.

If you’re a fiduciary for your company’s 401(k) plan, you need to know that you have significant liability that extends to your personal assets, and is typically not protected by liability insurance coverage. Your 401(k) vendor has limited fiduciary liability for your plan. It is a common mistake that employers assume since they use a recognized 401(k) vendor, that their vendor is handling all compliance issues on their behalf. In today’s economy, many 401(k) plan fiduciaries are a target for litigation from employees, looking to sue due to the poor performance of their 401(k) plan. In the last decade alone, there have been over 10,000 lawsuits initiated against plan sponsors who’ve failed to adhere to
ERISA Guidelines.
 

CARDINAL 401(k) IS THE SAFEST ALTERNATIVE IN RETIREMENT.

Cardinal consolidates all of your needs into one easy solution, and frees you from the burden of 401(k) liability. Cardinal becomes Fiduciary, Administrator, Sponsor, and Trustee. We design and maintain the 401k plan document and keep up with all applicable laws and provisions. We become administrator and process contributions, loans and distributions, and 401k plan provisions. We provide information and education to plan participants in compliance with ERISA, and conduct annual audit of 401k plan and reconcile any participant account balances and file all necessary forms. Our clients maintain plan design flexibility for employee match, vesting, and profit sharing, without having to deal with never ending paperwork and regulations they would incur dealing with their own vendors.

Cardinal 401K Pricing

Plan Document Setup: $600*
* This fee may be waived for volume submitters and HRSuite clients making an employer contribution
Annual Administration and Reporting Services: $750