The Payroll Company to Offer Multiple-Employer 401k
MIDDLETON, WI, August 17, 2010 -- The Payroll Company and ENT Resources, Inc. (ENTRI), today announced a partnership to offer multiple-employer 401k plans under the Academy Benefit Partners (ABP) and TPC Qualified Plans brands. ENTRI is a for-profit subsidiary of the American Academy of Otolaryngology -- Head and Neck Surgery (AAO-HNS), the nearly 12,000 member international medical society. Of its members, more than 8,300 are U.S. board-certified. Together, ENTRI and The Payroll Company are offering two different multiple-employer plans (MEPs) for medical professionals.
The Safe Harbor Choice is ideal for those who want to maximize their retirement contributions while being exempt from plan testing. The Flex Choice is best for those who need flexibility in features like employee eligibility, employer contribution, and other plan design options.
With either plan, participating MEP employers can save thousands in out-of-pocket costs like legal and accounting fees, as well as staff time needed for plan support. TPC Qualified Plans, LLC, takes on the fiduciary responsibility and role of Plan Sponsor, monitoring investment options and ensuring, among other things, that plan compliance and reporting requirements are met. The Payroll Company then smoothes the way by providing seamless integration between the payroll records and the 401k, so there is no need to fill out additional paperwork for employees getting into the plan. The Payroll Company also handles all the file transmittals each pay period, contribution reporting, and all the day-to-day hassles.
"We are so pleased with this partnership with ENTRI," said Eric Schroeder, President and CEO of The Payroll Company. "It's satisfying to know we'll have the strength of this partnership to ensure thousands of healthcare workers have easy access to world-class retirement savings plans, even if they work for small employers."
About The Payroll Company
Payroll Company, Inc., is a leading provider of payroll and human resource solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services such as direct deposit, check signing, and paperless payroll. Human resource and benefit services include 401k plan recordkeeping, workers' compensation administration, section 125 plans, and other administrative services for business. The Payroll Company was founded in 1998. With headquarters in Middleton, Wisconsin, the company services businesses nationwide. For more information, visit www.payrollcompany.biz.
About ENT Resources
ENT Resources, Inc. (ENTRI), the for-profit subsidiary of the American Academy of Otolaryngology-Head and Neck Surgery (AAO-HNS), is the company that brings you Academy Benefit Partners products and services. ENTRI is a separate corporate entity with its own management and business objectives. http://www.academybenefitparners.com.
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