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COST & VALUE – Spend Less & Get More
Don’t underestimate the power of value - “Price is what you pay. Value is what you get.”
This group 401(k) program gathers many tasks involved in operating a retirement plan and hands them over to third parties, like administrative and investment fiduciaries, so you get the benefit of offering a 401(k) plan to employees without having to own all the work, responsibility or liability.
Perception vs. Reality
We know a lot of considerations come with retirement plans: You may be comfortable with the plan you have—maybe you don’t think your employees would value such a benefit, or that your benefits can’t compete with larger companies; maybe cost is on your mind. The reality is: Your plan may be working — but in the group program, you may be able to make it even better and save money. Retirement plans are some of employees’ most valued benefits; in the group program, your plan is still your plan and it helps you keep your competitive edge; the group rate may be less than you’re already paying.
Strength — and Value — in Numbers
By joining the HBA 401(k) program with Lincoln Financial Group, you get individual attention; access to potential pricing and service efficiencies — economies of scale — that you may not have by sponsoring a plan on your own; the power of a group plan with the flexibility retain a design that’s working for you or changing to one that will. No need to forfeit your business’s distinct needs. Meaning, you get to offer a plan that makes sense for you and your employees, vetted by the HBA and other businesses like yours, all at a competitive group cost for each business that joins.
SERVICE - Save Time & Maximize Resources
The HBA of Metropolitan Harrisburg program: Working with you and for you
Even though the HBA 401(k) program is a group program, joining doesn’t mean you give up the kind of service you need. You’ll experience the benefits of a group structure with personalized service that puts you first.
Helping you meet your goals, on your terms
A flexible service model means you get to decide the level of support and guidance you need. Maybe you want to maintain a certain level of control and oversight. Or maybe you want to hand off most of the details. Either way, you can expect a strategy and tailored plan design that represents your goals and your people—delivered by a support network that: Ensures the plan follows all the rules and regulations associated with sponsoring a retirement plan; Manages the day-to-day details and overall strategy; Explores opportunities for improvement in performance and cost savings
No Retirement Plan Expertise Required
The HBA program can become your 401(k) department, so you can focus on what’s profitable: running your business. A leading recordkeeper, third party administrator and financial professional maximize strength in numbers and put their combined expertise to work for the plan on behalf of the members who join. And there’s nothing like knowing your retirement plan is in capable hands.
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