compliance made easy
You don’t have to worry about the legal side of your retirement plan—our full-service compliance team handles it all. From writing plan amendments and restatements to ensure your plan stays current with evolving laws, to performing all required nondiscrimination and compliance testing, we take the complexity off your plate. When regulatory changes occur, we guide you through exactly what it means for your plan and handle the updates for you. With Journey, you can focus on running your business while we ensure your plan remains fully compliant, year after year.
Document design & maintenance
Retirement law is complex, and keeping your plan up to date with all required changes and restatements can be a headache for anyone. In addition, plan options and amendments can be confusing to navigate to make your plan work for you. At Journey, we handle everything from start to finish. Upon setting up a virtual or in-person client contact meeting with us, our qualified 401(k) specialists will work with you directly, providing any choices and options that might benefit you in simple, understandable terms so you can dictate your plan, your way. We'll talk through your goals specifically as an employer and determine the best plan design for your needs, then write the full, IRS compliant plan document. We also track all retirement law changes and prepare an updated plan document each time the IRS requires a restatement to catch up with new regulations. If you ever wish to change your document design to add, remove, or change various plan features, we also prepare plan amendments to keep your plan in line with your vision. Gone are the days of worrying about how best to design a plan; let Journey handle the work for you and rest easy knowing you're getting the best plan you can.
5500 forms
Every year the IRS requires every retirement plan to fill out a form 5500 or similar document. This document tells the government details about the operation, size, and status of the plan. 5500s are known for their administrative complexity and being a burden on plan sponsors, who often spend hours of time coordinating data with their recordkeepers, TPA, CPA, and other related plan contacts. Journey aims to lift this burden off your shoulders as an employer; with our full-service TPA/Recordkeeping services, we have all the information and skills at our fingertips to fully prepare your 5500 Form. We send you the completed copy once a year with ample time before the due date, and all you need to do is e-sign and submit it to the government filing website.
Required notices
Secure 2.0 was the latest in a long line of legislation that introduced an extensive number of required notices that need to be sent to all retirement plan participants. Every plan is different, requiring separate legally compliant notices for plan features such as safe harbor, Qualified Automatic Contribution Arrangements, Qualified Default Investments, and dozens more. Journey takes this and makes it as easy as possible for you as an employer. Each year we review all aspects of your plan, write full IRS-approved participant notices, and send them to you in a single, convenient disclosure packet for you to provide to your employees. We also include a cover page which cuts out the legal jargon and explains in simple, readable terms what each notice is and how it affects your plan. Stop worrying about whether you've provided all the notices you need to and switch your plan to a Journey plan today.
Participant statements
Journey provides highly detailed quarterly e-statements to all 401(k) participants completely free of charge. These statements fulfill all the requirements under IRS and DOL regulations for statement preparation and are sent right to the registered email addresses of your participants, eliminating any work needed from the employer. In addition, participants can view their balance updated daily through the portal and generate custom statements on demand, allowing full transparency at all times.
