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401(k) Retirement Plan Benefits 

Axcet HR is your 401(k) benefit plan specialist – guiding your employees to maximize their future.

401(k) Retirement Plans

Offering a 401(k) plan shows that your small business values more than just the work your employees do on behalf of your company. It demonstrates that you care about and are investing in their long-term well-being.

Small and mid-sized businesses sometimes shy away from offering 401(k) plans, however, because some providers make these plans expensive to set up. When you rely on Axcet HR Solutions for retirement plan services in Kansas City, you’ll discover that 401(k) benefits can be robust and accessible for your employees and affordable and worry-free for you.

Thinking about outsourcing your 401(k) Retirement plans? Reach out »

401(k)

Competitive employee benefits packages include 401(k) retirement plans – one of the most-coveted job perks. But when smaller companies manage 401(k) plans on their own, it can get expensive fast. They may be required to pay a third-party administrator setup charges and legal fees for drafting summary plan documents, among other costs.

Small businesses don’t have these plan expenses when they engage Axcet HR Solutions, a certified professional employer organization (CPEO), for retirement plan services in Kansas City.

Axcet handles every aspect of setup, oversight and administration without additional cost, and our flexible plan is customizable based on your company’s specific needs and objectives.

We offer a variety of options, including after-tax and pre-tax contributions, along with a strong investment lineup with plentiful choices for your employees.

Participants have 24/7 online access to their accounts and – unusual among 401(k) providers – the availability of free, one-on-one consultation and education by certified financial planners.

Axcet relieves the administrative and compliance burdens of managing a 401(k) plan, which includes handling plan auditing and U.S. Department of Labor (DOL) 5500 annual tax filings.

With Axcet’s retirement plan services, employers can offer high-value 401(k) benefits for employees without worry or extra costs.

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Plan Design and Consultation

Before designing a 401(k) plan, Axcet experts meet with employers to learn their retirement benefit goals. For example, some smaller companies may want to maximize contributions for the business owners, while others may prioritize encouraging all employees to participate by establishing matching goals.

Then, we tailor plans to each employer’s individual objectives and manage every complicated detail, such as making sure the plan complies with DOL regulations, including safe harbor rules.

When business owners want to lower their taxable income through contributions or otherwise participate in the company’s 401(k) plan, we make sure that, as required by law, the plan doesn’t disproportionately benefit them. If necessary to achieve this goal, Axcet develops a safe harbor plan to ensure that all employees – regardless of salary level – can equally benefit from the company’s 401(k) retirement plan. This nondiscrimination compliance can be difficult to achieve without the kind of specialized expertise Axcet professionals offer.

Axcet’s flexible plan gives employees the option to make contributions to a traditional 401(k) plan on a pre-tax basis or to a Roth 401(k) using post-tax dollars. Employers also may choose profit-sharing opportunities, the amount of their company match contributions and the length of waiting periods for employee participation and vesting in the plan.

With Axcet’s help, smaller companies enjoy not only lower expenses, but also customized 401(k) benefits for employees, higher participation levels and worry-free compliance.

Loans and Hardships

Under Axcet’s 401(k) plan, employees may borrow against the amount they have invested at any time for any reason and avoid taxes and penalties by paying back the loan within a set timeframe. The availability of these loans is an advantage for employees who experience unexpected, short-term financial needs.

Axcet seamlessly facilitates the process for clients, allowing employees to request loans online, setting up deductions from their paychecks, updating payroll accordingly and ensuring employees are not exceeding annual borrowing limits based on their account balances (loans cannot exceed half that amount). We also educate employees about how soon they have to repay the funds and send reminders to help them meet those deadlines.

Employees also may make hardship withdrawals from a 401(k) plan account balance for financial emergencies like a major medical expense, response to a natural disaster or impending home foreclosure. While employees do not have to pay back 401(k) hardship loans, they do have to pay taxes and penalties on the amount they withdraw.

Under either loan scenario, Axcet handles all administration and documentation.

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Compliance

Offering 401(k) benefits for employees requires adherence to complex rules and regulations. Axcet’s retirement plan services in Kansas City alleviate the strain of compliance and ensure your small business’s plan adheres to all regulatory requirements.

Axcet conducts the annual testing required by the federal government to confirm your plan’s compliance year over year – namely, that it does not favor highly compensated employees or discriminate against lower-income workers. Companies that handle this testing in-house and make mistakes or miss a deadline could face hefty IRS penalties or be disqualified from the plan.

Axcet clients can check those concerns off their lists. We take care of all activities required for ongoing 401(k) plan compliance, including:

  • Creating summary plan descriptions
  • Sending out fee disclosures
  • Distributing other required notices that provide:
    • transparency around the plan’s investments;
    • the costs to employees for being invested in a certain fund; and
    • specific fees are for various transactions.

Axcet client companies rest easier knowing that we handle all of these 401(k) plan compliance and related administrative tasks accurately and on time.

Administration

There are so many advantages to business owners who rely on Axcet’s expert retirement plan services. We take care of day-to-day administration, including record-keeping, payroll deductions and automated contributions and data submission.

Our client companies also enjoy high-value employee investment options at a low expense ratio, thanks to the significant assets in Axcet’s plan. That saves employers and employees money on plan administration, because 401(k)s often are priced by volume – the bigger the plan, the lower the expense ratio.

Axcet creates a turnkey approach for employers, so they can offer 401(k) retirement plan benefits without the overwhelming task of administering them. All employers have to do is enjoy the goodwill and increased engagement they create by offering employees an efficient and effective way to invest in their retirement.

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Professional Management

Small and mid-sized employers who offer 401(k) retirement plan benefits through Axcet gain the peace of mind that comes from knowing they can depend on our fiduciary expertise and responsibility for the plan.

We provide plan oversight – from investment selection and monitoring, to ensuring the plan is fiscally healthy and continuing to operate in the best interest of employees and their beneficiaries.

A fiduciary committee comprised of financial professionals regularly evaluates Axcet’s 401(k) plan to ensure it is meeting or exceeding desired performance standards. The committee tracks and manages funds, taking full responsibility for investments within the lineup and for removing any with below-market performance.

Without Axcet, small business owners must somehow monitor the productivity of plan funds themselves – a difficult and daunting task for those without investment prowess. But with Axcet’s trusted retirement plan services, employers and employees alike have access to a powerful retirement-savings tool in the form of a fully diversified, high-performing 401(k) plan – without ever reading a single Morningstar report. (And, if you just asked yourself out loud, “What is a Morningstar report?,” that is a strong indication you should not try managing your 401(k) plan yourself!)

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PEO Services Help Small Companies Thrive

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Client meeting at Axcet HR Solutions, Kansas City
Felisha-m

We are small, and as such, rarely in the eye of a payroll services company. Axcet works with our multiple entities. I want to focus on our business, and they focus on HR for me. Because we are small, I really don't want to have a 'personal' disagreement about PTO or vacation pay, so I set the guidelines, and Axcet manages them, which I love.

Felisha M.

Owner, Insurance Firm
professional-smile-and-portrait-of-asian-man-in-o-2023-11-27-05-23-58-utc

We really appreciate the work you are doing for our tradeshow and exhibit display company. The fun part is we get at least an email a day, phone calls every day, and we see the commercials on tv for something that you have taken care of for us last year. (And, of course, it is in the capable IRS hands now.)

Thanks for making this so easy for us.

Don J.

Owner, B2B Tradeshow & Exhibit Company
bob-g

Turning our admin, payroll, benefits, 401K, workers' compensation, etc., over to Axcet HR has been one of the best decisions that we've ever made: that was back in 2001! We've had 21 great years with Axcet and hope to have 21 more! Axcet has saved us time and LOTS of money but most of all, Axcet HR has allowed us to focus on running our business...because we know, day in, and day out that Axcet has our back!

Bob G.

Owner, B2B Services Company
Andrew-c

As a start-up, Axcet's HR solutions have been an integral partner in guiding us through several key business necessities and requirements. They have been very helpful in core functions including recruiting, 401k setup, employee onboarding, benefits enrollment, payroll and various compliance training for our employees. We've gained business momentum as a result of Axcet's team of dedicated professionals.

Andrew C.

Chief Growth Officer, Technology Company
Michelle-w

Axcet has helped us find affordable benefits for our 15 employees. Being a small firm, it was hard to find various health insurance options. It is nice knowing that we have someone with HR knowledge. It is good to get another persons opinion when we are having employee issues.

Michelle W.

Controller, Engineering Firm
headshot-portrait-of-stylish-african-american-busi-2021-09-03-03-06-46-utc

Axcet's professionalism and knowledge is a definite asset for our company. They have saved me so many hours in Payroll, HR, Benefits and Workers Comp. There is no way for me to keep up on Human Resources! I praise their staff highly! ...Axcet KNOWS Customer Service!

Anna H.

Owner, Car Dealership
head-and-shoulders-portrait-of-smiling-young-asian-2021-08-29-11-02-50-utc

Axcet has been so helpful and professional in answering questions that I have for payroll processing. My payroll administrator is so prompt in replying to emails. He is really easy to work with and is so knowledgeable. Our Human Resources Consultant is professional and personable. I have great confidence in Axcet and have never hesitated in contacting them for questions or clarification.

Mandy C.

Non-Profit Ministry
happy-indian-business-man-leader-manager-standing-2021-11-08-16-18-44-utc

Axcet HR has help lesson our burden in all aspects of payroll, HR, safety and our 401K. When an employee comes to one of us with a situation. All we do is point them to our Axcet administrator and or payroll administrator and the issue gets resolved. It has been a great relationship.

Rick B.

Electrical Services Company
Nita-c

I burned through a couple of "payroll companies" before I found Axcet. I have yet to encounter anyone at this company that hasn't been friendly, approachable and knowledgeable. Calls are returned amazingly fast and problems are solved without having to make any other calls. This is truly a great company and stellar business partner!

Nita C.

Owner, Medical Industry Company
Bruce-h

With all the changing rules and regulations we face as employers, I was always afraid of a "Gotcha!" moment. We've been with Axcet over 10 years now and I sleep well at night knowing all our HR is done right. They make it all so easy. Our payroll is accurate, we are legal and OSHA compliant in every area, and my employees love their benefits. Our team at Axcet is more than just a good vendor, they are a great partner!

Bruce H.

Founder & CEO, Services Company
woman-head-office-worker-in-a-stylish-office-with-2022-11-25-16-03-54-utc

My faith in Axcet's expertise has always been off the charts. It has been so nice to just be able to pick up the phone and ask questions. Simple to complex ... they can do all of it! Axcet has allowed us to offer an extensive benefits package to our Teammates which has been an added bonus. Axcet is not only part of our Team but we consider them part of our Family! We are one of Axcet's many fans. No regrets since day one and we wouldn't change a thing!

Moira V.

Small Business Owner
portrait-of-female-owner-of-gift-store-standing-in-2021-08-27-16-33-28-utc

Axcet handles all of payroll, HR and benefits needs. As a non-profit, it's great to have Axcet as a partner to provide all of the employee benefits and HR support that I need so our staff can focus on the core mission of our organization! They have helped me with hiring, navigating benefits enrollment to get our employees the best rates possible, as well as navigating possible employee related tax credits. I love our Axcet team!

Emily D.

CEO, a Kansas City Non-profit
woman-head-office-worker-in-a-stylish-office-with-2022-11-25-16-03-54-utc

We had tried two other PEOs. Both of which we left after the first year. The level of service that we were accustomed to with Axcet was not there, so we came back to Axcet truly because of the excellent service we always received. Everyone at Axcet would make us feel like we were their only client, like they were sitting there waiting for our call, always friendly and ready to help. 

Lisa C.

VP of Finance, Kansas City Financial Institution
portrait-of-female-owner-of-gift-store-standing-in-2021-08-27-16-33-28-utc

We started working with Axcet in 2018 and they have dramatically increased our internal productivity. We used to spend hours on payroll, HR, benefits, taxes, etc. each week and that is no longer the case. Prior to Axcet, we worked with two other payroll companies and is was a complete mess. Working with Axcet is like having a robust and efficient internal HR department. They have solutions to every problem and we no longer feel lost trying to navigate the payroll landscape. If you want to streamline your business and get out of the HR and payroll weeds, then go with Axcet.

Peyton W.

Owner, Recruitment Firm
businessman-2021-08-30-20-05-04-utc

Thank you Axcet HR for your assistance with the employee issue. You justified every penny we pay to Axcet through this exercise. I am really glad we have you and Axcet as a resource. It gave me peace of mind, knowing that you would know how to handle these situations the correct way. I really appreciate all the effort put into this to help me stay on course and protect our company.

Mark S.

President, B2B Company
Sherri Senior Human Resources Consultant at Axcet HR, Kansas City

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As a full service professional employer organization (PEO), we provide comprehensive HR support and administration to help your business succeed.

The cost of a bad hire can be significant, often reaching as much as 30% of their salary. By relying on our HR experts, you can save your business thousands of dollars and avoid the costly mistakes that can come with an uninformed hiring process.

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