Cutting Edge Business Practices: PEO Services

Cutting Edge Business Practices: PEO Services
The Professional Employer Organization

When we think of cutting-edge business practices and technologies, we think of improvements or advancements that are so influential they revolutionize entire industries. Consider, for example, the invention of machine tools. They made it possible to produce articles with interchangeable parts because for the first time, a worker could make a cut in a piece of metal that was accurate to the millionth of an inch. An identical cut could be made again and again and again. The result was the ability to mass-produce articles without seriously compromising quality. That was "cutting-edge" technology.

The growth of the Professional Employer Organization (PEO) industry represents a similar revolution. For the first time, you have access to assistance in complying with increased regulatory demands. You can get help dealing with business threats that did not exist in the past (such as sexual harassment suits). You can offer your employees benefits that make it possible for you to retain a competitive workforce. "Cutting-edge" indeed.

This is only the tip of the iceberg. Enrollment with a PEO allows businesses to increase efficiency and focus on core growth because many of the "annoying details" can be handled by the PEO.

• Have problems with FLSA compliance? Your PEO has it under control.

• Need advice about how to prevent accidents and lower workers' compensation premiums? Your PEO has a professional on-staff that is trained to see safety risks you might overlook.

• Are you interested in offering a 401k program and teaching your employees how to assess their retirement needs? We've got that covered too.

These and a host of other benefits are available to you, and chances are that our PEO company can offer them to you for less than you're already paying. Being on the cutting edge is what business is all about. Maybe it's time to sharpen your tools.

AmCheck offers nationwide professional employer organization (PEO) services. Get an online quote.

PEO Services

PEO Services
We take the headache out of ERISA 401(k) compliance

Among the hefty employment responsibilities we help you tackle is ERISA compliance. Managing a 401(k) plan, for example, requires a specific set of standards and diligence. We assume these responsibilities for you, so that you can concentrate your efforts on building your business. As part of ERISA compliance, we monitor available 401(k) plans to insure that they meet appropriate guidelines. This service includes:

• Establishing a prudent process for selecting a 401(k) administrator, or other service provider.
• Ensuring that fees are paid, and that the level of service and quality matches the fees incurred (The law requires that the fees charged to a 401(k) plan are “reasonable,” but it does not establish a level of permissible fees. We help insure that fees are indeed reasonable).
• Educating investors about available plan options.
• Seeing that investment alternatives are adequately diversified
• Monitoring investments to assure that the alternatives offered by a specific service provider are appropriate
  

401(k) administrators charge many different types of fees, depending on how the plan is managed, but most fees fall into one of three categories: Plan administration fees, Investment fees, and Individual service fees. When these fees are carefully managed, the return on the employee’s investment is maximized. Unmanaged, the fees have the potential of taking a significant bite out of overall earnings. (For a detailed discussion on 401(k) plan fees, see “The Hidden Cost of 401(k) Plans,” HR Wire).

If you have questions about your 401(k), or would like to make one available to your employees, contact one of our representatives at your earliest convenience.

AmCheck offers nationwide ERISA compliance & 401K Plans. Get online quote for cost effective ERISA 401K compliance plans.