The Pinnacle Employee Services Retirement Savings Plan allows your employees the opportunity to save for the future. Our instant HR infrastructure helps you streamline your 401(k) administration, reducing costs and ensuring compliance. Our partnership with Transamerica provides your employees access to a high-quality plan with diversified investment options selected and monitored by a professional investment manager.
Benefits of Our 401(k)
Administration
Most administrative tasks are handled by an independent third party who also acts as fiduciary. They handle tracking, reporting, compliance, testing, and many other day-to-day plan activities.
Tax Advantages
Certain qualified defined contribution plans allow employer contributions to be deducted as a business expense.
Potential Cost Savings
Benefit from the economies of scale enjoyed by large businesses. Pooling client assets can create cost savings, which are passed on to you and your employees.
The Benefit Your Employees Want
If you want top talent, then you need to understand what benefits employees want. A quality retirement plan, like the Pinnacle Employee Services Retirement Savings Plan, is near the top of the list.
PES and Transamerica will work together to evaluate your existing plan or create a plan that can help attract and retain employees.
Why Choose a PEO?
A PEO offers business owners a complete HR solution by providing expert support in payroll, benefits, compliance, and risk management. We take on certain employment liabilities, simplifying your operations while giving you secure online access to employee data.
With access to better benefits often at lower rates, you can attract and retain top talent. By handling the complexities of HR, a PEO frees up your time to focus on growing your business faster and boosting your bottom line, making it an ideal partner for sustainable success.
Is your Business Prepared for New York’s Mandatory Retirement Plan?
In October 2021, Gov. Kathy Hochul signed into law an amendment requiring private employers to automatically enroll employees in the New York State Secure Choice Savings Program, with an aim of assisting employees who do not already have access to an employer-sponsored retirement savings plan.
Who does this apply to?
The program applies to both nonprofit and for-profit employers in New York state that meet the following requirements:
- Employers that have been in business for at least 2 years
- Employers that have at least 10 employees within the state over the previous calendar year at all times
- The employer has not already offered their employees a qualified retirement plan including, but not limited to, a 401(a), 401(k), 403(a), 403(b), 408(k), 408(p) or (457(b) plan, in the last two years.
What must employers do?
- Offer the state-run plan – New York State Secure Choice Savings Plan or
- Partner with PES and we’ll take care of administering your 401(k) benefits for you!
Learn more about The Potential Impact of State-Mandated Retirement Plans.
Getting started is easy! Contact us for your HR Review and Needs Analysis today!
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