copilot 401(k)
As a small business owner, you’ve achieved a level of success that enables you to offer a retirement plan to your employees. But that doesn't necessarily mean you have the time or resources to manage the plan yourself. Sometimes it helps to have a CoPilot by your side.
A CoPilot made for you
CoPilot is a simple, cost-effective solution with all the plan features that make it easy for you and your employees to save for retirement. Count on us to help keep your plan compliant and to deliver high levels of service and support, including proactive notifications to support plan administration. Plan features of the CoPilot 401(k) include:
- Low cost, value-focused plan design
- Full-service administration
- 3(38) investment manager and fiduciary
- Automatic increase required
- Automatic enrollment required
- Financial Wellness program
- Online plan setup
- Participant education support
- Plan health reporting
- Compliance testing
- MyForecast for participants
- Roth 401(k) contributions available
To learn more about the plan design features and options available with the CoPilot 401(k) plan, download the CoPilot for Plan Sponsors Overview.
Ascensus CoPilot 401(k) investments
CoPilot includes professionally managed investment portfolios that protect you, the plan sponsor. There are thousands of investments to choose from—and as a small business owner, you can't be an expert on all of them. With CoPilot, you don't have to be.
CoPilot 401(k) plans include investment fiduciary coverage and services through Newport Group Consulting*, a national investment manager. There are four different lineups to choose from based on if you have a financial advisor or not.
*3(38) Investment fiduciary services are offered through Newport Group Consulting, LLC, an SEC registered investment adviser.
Are you currently working with a financial advisor?
CoPilot 401(k) Investments with an advisor
If you are working with a financial advisor, both the CoPilot Passive and Hybrid fee-based lineups are available, in addition to two commission-based lineups. Talk with your advisor about which lineup best algins with your plan's goals.
CoPilot 401(k) Investments without an advisor
As a small business owner that is considering a CoPilot 401(k) plan, you have a few different investment lineup options to choose from. As the plan sponsor, understanding the differences between the lineups can help you align the goal of the plan with the correct investment lineup.
|
Investment Goal |
CoPilot Passive Lineup |
CoPilot Hybrid Lineup |
|
Overall expense ratio |
Lowest cost option |
Low cost option* |
|
How funds are managed |
Passively |
Active (managed by professional portfolio manager) and Passively |
|
Fund benchmark performance |
Track with specific benchmarks and performance should exhibit small variances relative to respective benchmarks |
Passive strategies to track their benchmark and Active management for the potential to outperform their benchmark |
*Compared to commission-based investment lineups
Ascensus CoPilot 401(k) Plan Pricing
CoPilot retirement plans are designed for small businesses that want a cost-effective and simple 401(k) solution backed by reliable support.
| Employer Base Fee | $125/month |
| One time costs | |
| Implementation Fee | $500 |
| Employee fees | |
| Monthly Recordkeeping | $4/participant |
| Annual Custodial and Trading* | 0.07% |
| Annual Investment Fiduciary* | 0.25% |
|
*Fees are shown in annual terms but are deducted monthly. As of 07/01/2023 |
|
CoPilot 401k participant pricing example
The participant pricing examples below are for illustrative purposes only to demonstrate how the asset-based employee fees listed above would translate into deductions from a participant's account.
| $10K Account Balance |
$25K Account Balance |
$50K Account Balance |
|||||
| Recordkeeping | $4.00/mo | Recordkeeping | $4.00/mo | Recordkeeping | $4.00/mo | ||
| Custodial & Trading | $0.58/mo | Custodial & Trading | $1.46/mo | Custodial & Trading | $2.92/mo | ||
| Investment Fiduciary | $2.08/mo | Investment Fiduciary | $5.21/mo | Investment Fiduciary | $10.42/mo | ||
| Total Cost** $6.67/mo |
Total Cost** $10.67/mo |
Total Cost** $17.33/mo |
|||||
** Total cost doesn’t include the investment expenses or any applicable financial advisor service fees. The total cost amount doesn’t represent any specific participant. The actual calculations are determined by an individual's account balance.
Small business 401(k) tax credits
Offering a 401(k) plan with an employer match can help a small or mid-size company stand out from the competition and incentivize exceptional candidates to accept a job offer. In addition, business owners can benefit from a variety of tax advantages when they choose to sponsor a 401(k) plan:
- Tax savings: Employer matching contributions (up to applicable limits) are tax-deductible for the business.
- Start-up tax credit: Small businesses can claim a tax credit to help cover costs associated with starting a new retirement plan for up to three years. The SECURE 2.0 Act also added the employer contribution credit for small employers that adopt a new retirement plan and make contributions for their employees.
- Auto enrollment tax credit: Small employers that implement automatic enrollment may be eligible for an additional tax credit for the first three years the plan is in operation. This feature will be required in most newly established 401(k) plans beginning in 2025 due to SECURE 2.0 provisions.
- Owner participation: Business owners who also work for the company are able to participate in the plan as well, giving them the opportunity to benefit from the same tax advantages as their employees.
Let's make a plan.
New plan sales
833-893-3233
Existing plan service
833-892-8878
