"We have been in our FICPA Retirement Plan for over 4 years. PENSERVCO set the plan up and had our first deductions deposited quickly and efficiently.  The Staff at PENSERVCO is always available and very knowledgeable, and a great resource for technical issues for our clients. PENSERVCO is very supportive of the FICPA Educational Foundation, they helped our chapter raise a lot of funds for the ED Foundation through the Suncoast Scramble Golf Event."

Cost difference compounded at 7% for 10 years* = $114,737

 7% for 20 years* = $340,441

(*assuming no further contributions)

* PENSERVCO will sign all documents and file 5500 on behalf of adopting employers.

Part of our services to FICPA Member Firms is a free Benchmarking of your current plan. This will include the following: 1) Comparison of Administration Fees to companies that are similar to yours in size and Industry. 2) Comparison of Management Fees, and Mutual fund Expense ratios compared to other funds available and similar to their asset peers. 3) A report summarizing if your current funds are suitable to offer to employees.

Mary Clawson CPA,
Past President FICPA Suncoast Chapter

$490,000 Assets    
9 Participants    
  FICPA 401k Insurance Co.
Advisory Fees 70bps $3,436 $0
Recordkeeping 2,143 8,579
Administration 1,635 1,635
Expense Ratio 1,080 5,841
Total COST $8,294 $16,055
Total Expense % 1.69% 3.27%

Any No-Load Mutual Fund or ETF is available to be in the Plan. There is an effort always to keep the Expense Ratio in the Offering below 50bps. There are no limits to the number of Funds to be offered to member firms, and no price difference for 5 funds or 35 funds. Managed accounts are available, and Individual Stock Brokerage Accounts are allowed. Rental Property and Commercial Real Estate are also allowed in individual accounts along with Privately held Stock. Legislation may change investment options in the future.

Cost difference compounded at 7% for 10 years* = $703,551

 7% for 20 years* = $2,087,544

(*assuming no further contributions)

LEVEL I - Vanguard & Fidelity Funds & ETF

LEVEL II - Any No Load Fund or ETF

LEVEL III - Real Estate, Private Stock, Gold, Silver, other eligible assets of value

"FICPA 401K" Plan

FIDUCIARY ASSISTANCE

A multiple employer program for 1-99 employees

NEW PLAN - Request quote here.

Shan Shikarpuri, CPA, CGMA
Past President of Suncoast Chapter AICPA

Shan Shikarpuri & Associates, PA

$1,450,000 Assets    
85 Participants    
  FICPA 401k Insurance Co.
Advisory Fees 70bps $10,150 $0
Recordkeeping 6,050 26,785
Administration 2,475 3,200
Expense Ratio 7,395 16,530
Total COST $26,070 $46,515
Total Expense % 1.80% 3.21%

Costs will vary based on number of employees and assets in the plan

COMPARISONS

INVESTMENT OFFERING

INVESTMENT FLEXIBILITY

Michael Halfast, CPA
FICPA Region III Representative

BENCHMARKING YOUR CURRENT PROGRAM

$6,500,000 Assets    
147 Participants    
  FICPA 401k Large Bank
Advisory Fees 70bps $9,750 $25,350
Recordkeeping 17,000 6,940
Administration 11,056 8,256
Expense Ratio 18,200 63,050
Total COST $56,006 $103,596
Total Expense % .86% 1.59%
  • Investments
  • Administration

We have been a member of the FICPA Retirement Plan for over 10 years now.  The Staff at PENSERVCO has always been accessible, helpful and makes sure our Plan remains in compliance with current ERISA regulations.  We have found their base mutual fund options, which include, but is not limited to, Vanguard and Fidelity investments, to be excellent options for our employees and ourselves.  In addition, their Plan has allowed our firm’s employees the flexibility to purchase real estate/property as investments in our 401(k) Plan.  We are very pleased with the services provided by PENSERVCO and can recommend them to any organization seeking a quality Plan Administrator.

COSTS

3-16 FIDUCIARY

EXISTING PLAN - Request quote.

“I have known Bill Moore and his staff at PENSERVCO for many years. Further, I have dealt with PENSERVCO professionally for retirement plan designs and administration. Their quality of services are superb. They also have made their resources available to the CPA community for utilizations if needed. In addition, Bill Moore and his staff have taken the initiative to lead and establish the annual Suncoast Scramble Golf Tournament since 2004 to help us raise funds for our chapter and for FICPA educational foundation for scholarships for the accounting students. Bill Moore and his staff are dedicated to our chapter and have continuously provided our chapter with CPE. PENSERVCO as an exhibitor at the FICPA conference has won numerous awards. I strongly recommend their services.”

The FICPA Program is designed specifically for Members of FICPA. The Program provides significant discounts for Setup Fees, administration fees and ongoing management fees. The FICPA Program encompasses many types of plans. 401k, 403b, Safe Harbor 401k, Profit Sharing, Defined Benefit, and Cash Balance Plans. All of these plans are free standing or in combination with others to maximize deductions when needed.

* Employers with over 100 employees will receive a customized quote.

TESTIMONIALS

Cost difference compounded at 7% for 10 years* = $302,251

 7% for 20 years* = $896,824

(*assuming no further contributions)

PLAN DESIGN & CONSULTING

PENSERVCO may be contracted to act as a Fiduciary for the Administration of the Plan.  PENSERVCO will sign all documents, send out all DOL and IRS correspondence to your employees annually, take care of Loans and Hardships, and Sign the 5500 forms for your company by contract.