Promoting the industry ~ Focused on Members Success
The Printing Industry of the Carolinas, (PICA) continues its focus on programs and services that will simplify your processes while saving you time and money. As a result, we are pleased to announce the availability of a truly unique and exclusive member program ó The Printers 401K.
This program was established in 1985 designed to serve the needs of printing companies across the nation. It provides true fiduciary protection, reduced administration time, outstanding investment options, and an average cost savings of 21%, giving you additional ROI for your membership dues.
What makes the Printers 401K unique are the 3 Pís ó Protection, Performance, and Price.
The Printers 401K program transfers fiduciary responsibilities from you to the Printersí 401K Trustees. You are the plan sponsor without the fiduciary liability.
The Protection is realized by taking your name off the plan documents and replacing it with Printers 401K as the named Plan Administrator and named Discretionary Trustee for your plan. The Printers 401K is responsible for the day-to-day management of your 401k plan, eliminating your responsibility of internally managing the day-to-day issues for your employees.
The Printers 401K Investment Committee consists of owners and officers of participating printing companies and regional printing industry association directors. The committee meets quarterly with the planís Registered Investment Advisor, Plan Administrator, and ERISA Attorney.
The Investment Committee has full access to the complete universe of mutual funds; there are no proprietary product restrictions or requirements. This allows for a prudent and objective fund selection process.
The Investment Committee further utilizes a proven due diligence process which identifies superior investment options. The Investment Committee reviews each investment option utilizing the Foundation for Fiduciary Studyís scoring process each quarter. Investments that fail to meet the fiduciary standards established will be replaced with a more appropriate option, ensuring the plan will always have quality investment options.
The program eliminates conflicts of interest in the management of the plan assets by operating on a revenue neutral basis. Any and all revenue received from the investments offered within the program is credited back to each plan participantís account. All fees are fully disclosed in a simple and easy to understand format.
The program identifies and discloses all plan costs. It eliminates any unnecessary and redundant fees typically found in programs offered in the market place today. Companies that have switched to the Printers 401K program have realized an average savings of 21% in total annual plan costs.
The unique design of the Printers 401K program substantially reduces your administrative tasks and responsibilities, while allowing you to maintain your own unique plan features and plan design.
PICA is confident you will find the Printers 401K program a true added value!
To learn more about this program contact John Moynihan or Joe Trybula at 800-307-0376 or visit www.diversifiedfa.com/ga.