Retirement plans


Planning for and investing in the future

A competitive employment market means it has become increasingly challenging to attract and retain the best employees. Incorporating a 401(k) retirement plan into your employee benefits package provides a great recruiting tool, improves employee retention and gives employees, management and business owners a valuable savings vehicle that they’ll appreciate.

Elevanta has partnered with Benefit Plan Administrators to manage The Retirement Trust program. With more than one plan option to choose from, it provides employers with a retirement plan that features low administrative fees for owners, while providing plan participants with quality investment options at lower expense ratios than virtually any other plan available.

In addition, the plan has no front end or deferred sales charges. You simply select eligible employees who can contribute up to 75 percent of pay, and then determine how much of a matching contribution you wish to make.


Retirement Trust offers:

Standard 401(k)

Ideal for all employees

This comprehensive and popular design allows employee contributions, an employer match that can be adjusted annually and a vesting schedule that works for your business. Flexibility is maximized with this design.

Safe harbor 401(k) with 3 percent match

Ideal for employers who want to limit contributions

The Safe Harbor 401(k) with 3 percent match is ideal for employees and managers. This design allows employee contributions, but limits employer contributions to 3 percent of payroll. With this plan design, everyone gets something of value.

Safe harbor 401(k) with 4 percent match

Ideal for owners and other highly compensated employees

The Safe Harbor 401(k) with 4 percent match is ideal for managers and owners. Owners include anyone who owns over 5 percent of the business and/or earns over $100,000 in annual salary. This design allows employee contributions, but limits employer contributions to 4 percent of only those who make contributions. With this plan design, only those who show interest by contributing some of their own pay get the benefits from the employer.

Managers Only plan

Custom designed plan to reduce eligible participants

The Managers Only plan is custom designed for Elevanta clients and is ideal for managers and long-term employees. If owners are not interested in the plan for themselves, this design allows eligible participants to be limited to specified groups. The Managers Only design significantly reduces the number of eligible participants, removes compliance testing concerns and eliminates the need to include those who are not eligible in monthly census submissions.

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